95% OF YOU Will Fail Trading: Learn how to overcome this stat

[CryptoMobster]

The grim thing to hear, I know but it's how the markets work. You cannot all win. But the ones that do, guess how? They take all the money from the people who constantly lose money within the markets.

So how do you overcome the fear of failure and go against the statistics? It's like anything when you consider success only so many people walk through it all and get to the other side and are actually considered to be a success; movie stars, sportsmen and women and so on. It is no different from trading.

A quick cheat list to help you

- Trading is EMOTION DRIVEN
- YOU must understand the importance of RISK MANAGEMENT
- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.
- LEARN as much as you can and practice without any capital.
- Understand the concept and process of compounding and why it is so important.
- Only trade yourself and DO NOT use auto trading bots led by a company
- Use 3% of your entire balance
- Make sure you have a trading plan and follow it each time
- Look for the formula and not the feelings.
[/list]

I've helped a lot of people in the past get over the trading hurdle. The problem is, everyone wants to be as good as the rich guy. Sometimes you got to get years and years of experience under your belt to get very good and get very profitable.

[richcorner100]

Discipline to follow trading plan, avoid greedy and unpatient is others more important thing in trading. 95% trader failed because they have bad psychology in trading so we should be learn how to manage it. And for knowledge about technical analysis is only second thing in trading.

[JatiAnom]

follow Smart Money ... 

hint: Smart Money Index and Commitment Of Trader Report

[joniboini]

Another alternative if you want to avoid constant stress is too look for good projects and then buy some tokens/coins, wait for years or months to see the progress.

That's definitely better than looking at trading chart daily.

Btw there's a conflict of cheat list, one thing said trading is emotion driven while the other ask us to look for pattern and not the emotion. I think we should look for both.

[CryptopreneurBrainboss]

Not everyone can benefits from a particular source of income, if you notice trading isn't working for you switch to something more appealing liking investing (buying and hodling of your cryptocurrency) the cryptocurrency market is too volatile and only the smart traders make profits irrespective of the market direction. If you aren't good at that then change to something that suits you.

[Iceblast]

The grim thing to hear, I know but it's how the markets work. You cannot all win. But the ones that do, guess how? They take all the money from the people who constantly lose money within the markets.

So how do you overcome the fear of failure and go against the statistics? It's like anything when you consider success only so many people walk through it all and get to the other side and are actually considered to be a success; movie stars, sportsmen and women and so on. It is no different from trading.

A quick cheat list to help you

- Trading is EMOTION DRIVEN
- YOU must understand the importance of RISK MANAGEMENT
- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.
- LEARN as much as you can and practice without any capital.
- Understand the concept and process of compounding and why it is so important.
- Only trade yourself and DO NOT use auto trading bots led by a company
- Use 3% of your entire balance
- Make sure you have a trading plan and follow it each time
- Look for the formula and not the feelings.
[/list]

I've helped a lot of people in the past get over the trading hurdle. The problem is, everyone wants to be as good as the rich guy. Sometimes you got to get years and years of experience under your belt to get very good and get very profitable.

This step must be applied to traders, but for now there are many traders who do not pay attention to the risks and also the amount of balance that must be used for traders. maybe your statement must be published to be useful for other traders.

[Beerwizzard]

If everything was so simple then that 95 % of traders were not losing money. Those advices will just help you to minimize your loses. It doesn't mean that following this tips will make you a profitable trader.
There always will be about 90% of traders that are losing money. Without them the price chart would look like a horizontal line.

[deisik]

If everything was so simple then that 95 % of traders were not losing money. Those advices will just help you to minimize your loses. It doesn't mean that following this tips will make you a profitable trader.
There always will be about 90% of traders that are losing money. Without them the price chart would look like a horizontal line

I can tell why people are losing money

As I've been there, seen that with my own eyes and felt it with my own skin (in the game). In the end, it all essentially comes down to people not knowing what they are doing, while it just happens that whatever they are doing turns against them (read, they start losing money). The only correct decision in this case is to do nothing but it means staying away from trading altogether (what 90% of traders should do anyway if they don't want to be left with nothing). And no, there is no paradox here even if anyone sees one

[hugeblack]

Words are beautiful but reality needs a lot of effort and not follow the theories like what happens in chemical equations.
Let me follow some of your points:

Trading is EMOTION DRIVEN
.
-Look for the formula and not the feelings.

Are you serious about this advice? You should put your feelings aside when you want to trade.
Your words are contradictory with the last point.

- Use 3% off your entire balance

3% is a very simple percentage, including the rule that playing in the safe direction will not bring you many gains, you should risk but calculated risk. 30% of your surplus money is reasonable.

- Make sure you have a trading plan and follow it each time

It is better to set clear points for buying and selling as the market is highly volatile and can happen a lot of change in a short period.

[Herbert2020]

true but all your list is a bunch of "abstract" ideas! basically you are telling others to succeed if you want to succeed! and that doesn't make any sense.

besides things you are listing here are not easy and are not something you just learn by "chatting". they are learned as experience. in other words you have to actually start trading and analyze the market with a small amount to gain that experience otherwise talking about something like "risk management" and "emotions" is not going to do anybody any good.

[leea-1334]

I think for once,,, this is good advice. If only most newbies would even follow half of that list, they would not all be crying when the bears come.

In fact,,, even experienced traders keep making these same mistakes. The problem was everyone gambled in 2016 and 2017 and they got lucky. Anything almost that you bought made money, it was a matter only of x10 or x100.

Now it is the complete opposite. Whether you lost 50% or 90%.

[palle11]

- YOU must understand the importance of RISK MANAGEMENT

This point is very pivotal to trade. Therefore, show me a good trader and I will tell you he/she understands money management. You don't become good with trade if you don't know how to manage your account. Thus, it necessary to place trades that won't collapse your account if it goes against you.

[carter34]

 "Create a journal and record all of your trades".

Will this really make too much of contribution  I think it could rather be tiring because how many trades would you execute in a day, two days and a week etc. I will like to keep track or record of my withdrawals anyway.

[Pursuer]

- Trading is EMOTION DRIVEN

no it is not.
just because some people who have no experience in trading turn to their emotions for solace doesn't mean trading is emotion driven! it just means those people have no idea what they are doing.

- YOU must understand the importance of RISK MANAGEMENT

understanding the importance of something is not the same as knowing how to do it right!

- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.

these are good suggestions.

- Only trade yourself and DO NOT use auto trading bots led by a company

I don't know what you mean by the last part about company but I disagree with not using automation. it is not necessary and a beginner should NOT use it as his first step but using bots and generally automation is great.

- Use 3% of your entire balance

I strongly disagree with this one.
you should use 100% of your balance but you should not deposit 100% of your money on exchanges in first place!
you deposit what you can afford to lose and then you work wit all of it, not deposit a lot and then work with a small portion!
additionally percentages depend on how much you have invested. for example if you are starting with 0.001BTC then 3% of it is too small to be worth anything, it may not even cover the fees.

- Look for the formula and not the feelings

there is no "formula" in trading!

[Indrawan77]

I agree that the success of trading is based on emotion, most of the people lose in trading because act recklessly or become greedy, but some of the point is not necessary in my opinion like keeping journal about your trade, in the exchanges we can see the history, using 3% of your balance is too little, when you see the good chance you need to put more, so we need to be flexible about trading, but still need to know the limit and learn about risk management

[milewilda]

true but all your list is a bunch of "abstract" ideas! basically you are telling others to succeed if you want to succeed! and that doesn't make any sense.

besides things you are listing here are not easy and are not something you just learn by "chatting". they are learned as experience. in other words you have to actually start trading and analyze the market with a small amount to gain that experience otherwise talking about something like "risk management" and "emotions" is not going to do anybody any good.

Most of things wont really able to attain yet this do really requires experience and chatting or just simply telling other people about this thing wont really be effective at all
unless if you do tend to experience such things.We are seeing these kind of advises all over again and again but following these even the basic ones arent really that simple
specially when you are already on the actual trading situation but eventually you can learn up things and discover on your own when you are already there.

[BitBustah]

I don't believe the failure rate is that high but very few people will be able to earn a substantial amount from trading.  If you lack patience then trading is essentially just gambling at its core.  The only consistent winners are the exchanges because they always make money off fees whether in a bull or bear market.

[Caladonian]

I agree that the success of trading is based on emotion, most of the people lose in trading because act recklessly or become greedy, but some of the point is not necessary in my opinion like keeping journal about your trade, in the exchanges we can see the history, using 3% of your balance is too little, when you see the good chance you need to put more, so we need to be flexible about trading, but still need to know the limit and learn about risk management

Being flexible and know how to adjust when it's needed is a clear tools in order to succeed inside this industry, you have to be more precise and goal oriented, taking risk but with always using extra precautions, you have to adjust when its needed and you need to workout with this very quick changes,
people who can easily adopt will survive to this venue while those who can't take the pressures will lose it all.

[Kevin77]

I think almost all of the listed information is true. I mean don't get me wrong these are not new information, many people know this and STILL fail at trading most of the time. What you may consider failing at trading is sometimes not as horrible as you might think.

For example, someone who bought bitcoin at 20 thousand dollars and sold it at 3200 dollars has failed a big time in bitcoin, he really screwed up, but someone who bought at 20 thousand and sold at 19 thousand also sort of failed (now looking at the price he kinda get away at the right time but when he made the trade he considered it a bad loss).

Hence, all in all yeah, you can follow all of this and during a bull run you will make a lot of great money but during bear market it doesn't matter if you lose or not, anyone can lose during bear market and that will not mean a failure, just make sure you lose as little as possible.

[shield132]

OP how long have you been trading bitcoin/altcoins? Such threads are created very often and still can't understand why? What's the point? To enlighten new or current traders? OP that's basic that everyone knows. It would be better if you talk how you consider those suggestion, how you try to manage your anxiety, how you analyze charts and etc. If anyone wants to create thread about trading, do these what I said instead of saying same and same shit for years.