drumamat
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October 31, 2019, 08:56:53 AM |
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Here are 6 of my reasons, what about your thoughts 1.80% of day traders give up within the first two years; 2.Among day traders, only nearly 40% of the day's trading was within a month only; 3.Within three years, only 13% continued trading. After 5 years, only 7% were left; 4.The average individual investor is 1.5% less than the market index; 5.Active traders' performance drops by 6.5% annually; 6.Traders with up to 10 years of experience continue to trade. If you are interested in electronic payment systems, please click on this link: https://vakaxa.net/he-thong-thanh-toan-tien-dien-tu/ otherwise you should ignore it. I wonder where you got these statistics?How can I calculate the annual index of increase in the number of traders?In fact, a trader can be considered anyone who at least 1 time bought or sold cryptocurrency.I have no figures,but judging by how many exchanges have appeared recently, I can say with confidence that there are only more traders.
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ChrisPop
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October 31, 2019, 09:01:28 AM |
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Most people that get into trading view it as a get rich quick scheme so they have poor risk management and go in with minimal technical analysis. Some of them go through the boom & bust cycles until they realise it was a big waste of time and money and they give up. It requires a certain mental framework to be successful in trading which not many people can attain. It is possible to achieve consistency in trading no doubt about that, but a lot of resources must be invested ( time & money).
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Shasha80
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October 31, 2019, 09:23:04 AM |
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Very simple answer from me why did 95% of traders fail and lose money because of greed. We have to admit that almost everyone feels it always motivated trading must make a profit as often as possible. Yet in my opinion this paradigm of thinking is wrong. Only it will lead to losses, especially for day traders sometimes they know that the market is bad do not force trading. But because greed wants to make a profit every day, the end is forced to enter the market and lead to losses. This is what I call greedy, but for daily trading does not have to enter the market every day, it can be 3 times a week or 4 times a week depending on conditions market. And it could also when we have gained enough profit, we always feel less and at that time also forced trading again to increase profit. But as you might have guessed that there was even loss, my advice if gained profit it's just stop trading.
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Kunnu
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October 31, 2019, 09:29:28 AM |
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First of all without proper knowledge and understanding about trading probably these things will happen and some kind of temptations like hype and false news plays a big role to stop trader's momentum to trade with patience and the second thing which could be a major reason is wrong choices of traders who always find shortcuts and take decisions with the help of analysis of those people who call themselves crypto expert or crypto analyst. Finally I would say that taking advises and believing in analysis is not a bad idea but we always give importance to our own mind and thinking first.
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bering
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October 31, 2019, 09:31:45 AM |
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Your lists seems describe only experience traders and who can survive can able to get profit from trading but the rest of them are give up and quit trading but besides all of it sometimes market conditions will makes people failed to get profit especially if in the whole of year dominated by downtrend then to seeking an opportunities to get profit will became so difficult because market conditions not getting better
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Wysi
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October 31, 2019, 09:34:21 AM |
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I know that many traders lose because they do traders every day, but in my opinion, for crypto trading it can't be done every day it must be known in advance, up trend and down trend. when the uptrend market is where the trader enters the market to stay in profit.
Those who do daily trading and lose their money are the one who don't do proper market research and assumes that the market will remain same as they use same tactics everyday. Even I made similar mistake when I started trading because as a trader we need to understand buy and sell period as everyday cannot be both and there are days wherein we need to wait without any trade.
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Doell
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October 31, 2019, 09:48:58 AM |
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95% is a lot I disagree with you almost all my friends and relatives are still trading including me and the average experience is only 3-5 years ,whether if the situation is outside other traders but I don't think they will stop in the middle of the road ,actually one year's experience is also enough to trade and must accept the consequences if one of altcoin he keep lose
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senne
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October 31, 2019, 09:55:36 AM |
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Here are 6 of my reasons, what about your thoughts 1.80% of day traders give up within the first two years; 2.Among day traders, only nearly 40% of the day's trading was within a month only; 3.Within three years, only 13% continued trading. After 5 years, only 7% were left; 4.The average individual investor is 1.5% less than the market index; 5.Active traders' performance drops by 6.5% annually; 6.Traders with up to 10 years of experience continue to trade. If you are interested in electronic payment systems, please click on this link: https://vakaxa.net/he-thong-thanh-toan-tien-dien-tu/ otherwise you should ignore it. According to these stats, drop out rate is pretty high when it comes to traders. This is indeed true. But another angle to the story is that the majority of these 95% are retail traders which are usually small fishes in the tank. The sharks have enough capital and experience to influence the market and sometimes play against the trend which leaves retail traders rekt. This intensifies the negative sentiment in regards to trading among the traders. So, the people who have control over their emotions can only keep patience.
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Pamadar
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October 31, 2019, 10:09:18 AM |
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I know that many traders lose because they do traders every day, but in my opinion, for crypto trading it can't be done every day it must be known in advance, up trend and down trend. when the uptrend market is where the trader enters the market to stay in profit.
Those who do daily trading and lose their money are the one who don't do proper market research and assumes that the market will remain same as they use same tactics everyday. Even I made similar mistake when I started trading because as a trader we need to understand buy and sell period as everyday cannot be both and there are days wherein we need to wait without any trade. Correct. Doing proper research will guide you to anticipate what trading strategy to use with such type of market conditions is around the market. Volatile market is very unpredictable the chance to fail is always possible as risk for your money is always in your hands. Keep being prepared before you start dealing with this type of market, failure to work with your knowledge can ruined your stay inside crypto trading business.
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Mike Mayor
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October 31, 2019, 10:14:44 AM |
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I don't know how anyone can really rely on trading as income. I see it as additional income and a reward for taking your time in choosing where to invest. I don't see constant trading as a good idea or a way to get income. It is rather when you finally sell some of the crypto you invested in because you chose a strong project that you believe in. I use a few avenues of revenue and see trading as a bonus and extra savings money or further investment money.
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Yaunfitda
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October 31, 2019, 10:42:12 AM |
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That's why the notion that crypto trading is easy and the way to get rich is very wrong idea, specially for those who wanted to try it the first time. We are no longer in 2017, wherein those statistics as posted by the OP is not that evident because of the bull run that we have.
And since the bearish trend, people started to realised that making money here is difficult, many quit, while majority are still learning the tricks and tips but still losing money as well. I do hope though that those who did lose money has somewhat learn from their mistakes so that they could increase their chance of succeeding if they chose to continue their trading journey.
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Genemind
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October 31, 2019, 10:42:48 AM |
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To sum it up, most traders are impatient and we can't blame them for that. Some traders who are using their funds for trading are expecting a daily good gain for their necessities but the fact is, we can't rely everything in crypto trading. They give up because they couldn't deal with the changes and they are afraid that they might lose their funds. That's why it's important that we'll do research about the coin that we are investing so it wouldn't be hard for us to make the right decisions in the future.
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adeandro
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October 31, 2019, 10:49:45 AM |
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Because they do not understand the basic principles of trading and do not understand how cryptocurrencies work.
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Whittiesense
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October 31, 2019, 11:06:29 AM |
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Patience is very important in anything you venture into especially if it's a long term thing/goal/investment. Relating with colleagues who have shared similar facts, your statistics are correct. Most times, some rush into it for the profits and get heart broken. That's why we always preach "DYOR" before you start. As for me, i'm not ready to stay up all night to read charts or walk by the roadside pressing my phablet 😄. Doesn't mean I don't have things that keep me up at night though 😄
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Edraket31
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October 31, 2019, 11:23:19 AM |
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Patience is very important in anything you venture into especially if it's a long term thing/goal/investment. Relating with colleagues who have shared similar facts, your statistics are correct. Most times, some rush into it for the profits and get heart broken. That's why we always preach "DYOR" before you start. As for me, i'm not ready to stay up all night to read charts or walk by the roadside pressing my phablet 😄. Doesn't mean I don't have things that keep me up at night though 😄
Patience is always needed but most of the time this is the hardest to do in trading, although it is good to do day trading or long term (whichever you prefer). So we need to control your emotion and learn to accept losses sometimes as not everyday is profit day for trading. Just don't let those losses give you up, make it an inspiration to learn more.
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daarul50
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October 31, 2019, 11:38:05 AM |
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It is no need to wait for the first two years for traders who will give up with trading, but they will stop trading in the first month if they cannot make any profit. Trading will be difficult for people who don't want to learn some basics of trading, but they will have a chance to get the profit for the first time they trade. Day trading will be more difficult because you need to search the potential coin to buy and sell, and the coin should have a good movement at the market. So why did 95 of traders fails is because they cannot learn more about trading, they follow other people suggestion without analyzing by themselves, they cannot manage how much money they should use for trading.
one month quit is a coward move. those who really want to get in the trading business will keep moving on no matter they hit by a consecutive losses, meanwhile you learn from that losses you need to read books more, that is the key besides the patience which everyone have but can not do it. the failure root come from the impatience i must agree with this, in the real trading business psychology takes a key role to affects any decision you'll go for, those who think & analyze with a cold head will get the profit as a rewards. and then the next step after you successfully go through the psychological matters , you need to maintain the trading profit steadily, you need to be disciplined , this is the biggest challenge that every trader faced and mostly failure to make it. that is why any survey giving that percentage, as human nature is to being impatience & undisciplined all the time, a perfect match.
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Youghoor
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October 31, 2019, 11:43:40 AM |
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Here are 6 of my reasons, what about your thoughts 1.80% of day traders give up within the first two years; 2.Among day traders, only nearly 40% of the day's trading was within a month only; 3.Within three years, only 13% continued trading. After 5 years, only 7% were left; 4.The average individual investor is 1.5% less than the market index; 5.Active traders' performance drops by 6.5% annually; 6.Traders with up to 10 years of experience continue to trade. If you are interested in electronic payment systems, please click on this link: https://vakaxa.net/he-thong-thanh-toan-tien-dien-tu/ otherwise you should ignore it. First and foremost, how did you come out with these statistics of yours? Day traders that lose money or fail are the ones who don't spend time to first study the entire crypto market before engaging in the day trading activities. And most of these people are newbies in the trading ecosystem. Day trading is not as simple as people may think. If you don't have enough knowledge and understanding of the crypto market, you will just end up running a lose. But you need to provide us with the source of your analysis to help some of us here to further understand your assumptions and reasons.
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Aying
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https://raiser.network
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October 31, 2019, 11:59:02 AM |
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Patience is very important in anything you venture into especially if it's a long term thing/goal/investment. Relating with colleagues who have shared similar facts, your statistics are correct. Most times, some rush into it for the profits and get heart broken. That's why we always preach "DYOR" before you start. As for me, i'm not ready to stay up all night to read charts or walk by the roadside pressing my phablet 😄. Doesn't mean I don't have things that keep me up at night though 😄
I required patience if we are going to long term trading. but the average we saw at OP most of them are impatient. with past years traders is losing its interest for gaining in crypto. because they see no change and progress is slow. maybe, because they're not researching. but in my view all this is going to change because everyone is already seeing the importance of crypto and how it can be addressed. many will return and are more likely to trade in crypto because their returns will be larger and less likely to be lost as they learn more.
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gabbie2010
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October 31, 2019, 12:45:39 PM |
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Here are 6 of my reasons, what about your thoughts
1.80% of day traders give up within the first two years;
2.Among day traders, only nearly 40% of the day's trading was within a month only;
3.Within three years, only 13% continued trading. After 5 years, only 7% were left;
~
Many of those 80% of day traders were truly newbies in trading and that was part of my mistake. I jumped immediately to day trading. I should've sticked to long-term trading so that I can grab the fundamentals of the market while I am earning at the same time. Those 6% inside 13% of those who continued trading could've already panicked. I could see that back from 2017 to present. PS. You can move this thread to Trading Discussion though since it isn't specifically for Bitcoin anyway. Those 80% newbies have the mindset of becoming rich within the shortest period of time not minding the learning process of becoming a good trader also they trade without a good money management even with fairly profitable strategy a good money management will be profitable in a long run while I agreed with OP on his statistical analysis of why 95% traders fails.
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Zionatin
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October 31, 2019, 01:10:19 PM |
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I think too many people think you can just start trading without any prior knowledge or experience. Since there is no real way to study it only with experience will you learn. So they think that if they just buy and sell it is easy. All you have to do is "buy low and sell high" very easy to say and very difficult to do. Most people do not make money immediately and because of this they give up and think it is too hard or not worth it. That is a common problem with people, they give up with too much ease. People think things will come easy and trading is one of the most difficult and stressful ways to make income.
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