Why most traders fail even when they have a profitable strategy

[Peanutswar]

For me this was a vague discussion there are a lot of factors here could be failing with their strategy, once the strategy becomes profitable for sure you will stick with it but of course there is an unexpected occurrence here such as large institutions or even whales hodlers selling their bitcoin so this is another key factor also the economic stand right now is its affect now the use of the bitcoin as a way of investment so those affected people or businesses will pull out their assets. Now you can take back those losses again once you see an opportunity because again you are skilled already thats how people ride with the volatility of the cryptocurrency.

[Mpamaegbu]

Most profitable traders today are not simply trading a strategy they learned from a mentor, a course, or a book. They are trading a strategy that they have gradually adapted to fit their own personality and strengths.. Over time, they build their own edge around it. The core idea may be the same as what they originally learned, but through experience they refine it into something that works for them.

Gbam! That's very spot on. Anyone who understands this early enough won't be frustrated using another trader's methods. What it simply means is that they should find a way to engineer what strategy or trading method that best suits them rather than completely rely on others. I know this won't be an easy fix for those who don't like trying new things on their own. You see, trading isn't for lazy minds and that's why I find it ludicrous when people think they should become profitable after three – six months of practice. They may get lucky a few times (most of us did) but I can assure anyone here that it's just a flash in a pan. It will surely backfire. Trading should be treated as a professional engagement that takes time to nurture.

So, do you think traders fail mainly because of poor strategies, or because they never stay with one strategy long enough to truly master it?

They never stayed long enough on a particular strategy to have a mastery of how it works intoto. It's only when that's done that one can begin on the path to profitability. New traders shouldn't be in a hurry to "pack money", they should be more concerned about how their strategy works.

[Awaklara]

So, do you think traders fail mainly because of poor strategies, or because they never stay with one strategy long enough to truly master it?[/left]

Every trader definitely tests the trading strategies they use. Maybe two or three tries aren't enough to really see if they work and fit. In the process, what often makes traders fail is actually the desire to make money quickly from trading. Those who start with spot trading aren't patient enough with a slowly moving market. Those who trade futures end up being gamblers with their trades. 
Maybe the problem isn't with the strategy itself, but more with the trader's psychological ability to understand the trading process.

[CryptopreneurBrainboss]

So, do you think traders fail mainly because of poor strategies, or because they never stay with one strategy long enough to truly master it?

What's the benefit there If you stick to one trading strategy but it turn out to be a waste of time, jumping from one strategy to another isn't a bad one if those strategy that you jump into gives you the results that you want. The goal in trading is always to make profit so if you see a strategy that can give you the profit that you deserve then you can move on to that strategy and then master it for you too constantly make profit. The market follows trends and if you are the type that can take advantage of the trends to make profit then that isn't a bad strategy but if you have the privilege of mastering one strategy that gives you profit don't pass it by as doing that is going to give you a leverage over the market as you get to make a lot of profit with minimum effort.

[pawanjain]

Even a tried and tested strategy can fail if it is not executed correctly. Not everyone has the patience to wait for the right setups to get an entry.
Traders do not fail because a particular strategy went against them but they fail because they did not had the patience to learn from their mistakes.
Some traders keep repeating the past mistakes over and over again and then complaint that they lost their money in trading.
Trading requires patience, consistency and the ability to learn from their mistakes which not everyone has.

[Comeacross]

As far as I'm concerned, there is no perfect strategy. I don't expect perfect strategy to even exit because market change often. Some traders will have a profitable strategy that work for them but I can't say it is a perfect strategy because a profitable strategy for you can liquidate someone's account with bad risk management.

I think we need to make distinction here as well even thou forex and crypto use similar principle, they have different volatility. You specifically mentioned forex trading in your post.

[mirakal]

Most traders fail despite having a profitable strategy because they lack of risk management, inconsistent execution and eventually abandon the strategy plan, emotional decision-making that sometimes lead them to revenge trading. Success in trading does not only focused on having a profitable strategy, but its more than that, and when you have less patience to continuously execute the strategy, it adds more to the reasons why such trading ends up a failure.

Losses and failure may be normal for traders, particularly for beginner traders. But we could have ended up prevented them if we have known earlier the common factors that would lead us to succeed in trading.

[nara1892]

So, do you think traders fail mainly because of poor strategies, or because they never stay with one strategy long enough to truly master it?[/left]

Every trader definitely tests the trading strategies they use. Maybe two or three tries aren't enough to really see if they work and fit. In the process, what often makes traders fail is actually the desire to make money quickly from trading. Those who start with spot trading aren't patient enough with a slowly moving market. Those who trade futures end up being gamblers with their trades. 
Maybe the problem isn't with the strategy itself, but more with the trader's psychological ability to understand the trading process.

Exactly. I agree with your opinion above that the problem isn't the strategy itself, but rather the traders' approach. Personally, I've honestly tested my strategy more than ten times, and it certainly takes time because finding the right timing isn't easy. The goal is to determine whether it's truly effective for long-term use.
The problem, as you stated, lies in their approach, whether it's patience, emotional control, and mental and psychological preparedness.

[Hatchy]

So, do you think traders fail mainly because of poor strategies, or because they never stay with one strategy long enough to truly master it?

What's the benefit there If you stick to one trading strategy but it turn out to be a waste of time, jumping from one strategy to another isn't a bad one if those strategy that you jump into gives you the results that you want. The goal in trading is always to make profit so if you see a strategy that can give you the profit that you deserve then you can move on to that strategy and then master it for you too constantly make profit. The market follows trends and if you are the type that can take advantage of the trends to make profit then that isn't a bad strategy but if you have the privilege of mastering one strategy that gives you profit don't pass it by as doing that is going to give you a leverage over the market as you get to make a lot of profit with minimum effort.

The idea is finding what works for you and giving it time long enough to yield results. Like I stated earlier, no strategy that doesn't work. It depends on your level of understanding and that's why I normally prefer that as a new trader, you don't focus first on learning a strategy. You have to master the basics and trade with simple market structures. Over time, when you have understood clearly how the market works, you can then focus on more realistic strategies that can help you on a long term. Should one get monitorship? Yes it shortens the journey and make work easier for you. But is it necessary? No. It might take a bit longer to understand how the market works on your own and build a strategy, but if you have enough patience and capital at hand, then you just might be abel to..

[taufik123]

-snip-
It might take a bit longer to understand how the market works on your own and build a strategy, but if you have enough patience and capital at hand, then you just might be abel to..

Patience is necessary and understanding every step and strategy that will be built takes time, so there is no instant work that can be done.
Ordinary people only want to understand trading overnight, whereas to understand everything requires a process and experience.

If you already have capital you will not necessarily be able to do it correctly, because capital is only the initial part of how investments and trades will be done, this needs to be managed properly.

[Perfectbaby]

Even a tried and tested strategy can fail if it is not executed correctly. Not everyone has the patience to wait for the right setups to get an entry.
Traders do not fail because a particular strategy went against them but they fail because they did not had the patience to learn from their mistakes.
Some traders keep repeating the past mistakes over and over again and then complaint that they lost their money in trading.
Trading requires patience, consistency and the ability to learn from their mistakes which not everyone has.

You are right and I must say that anyone who are able to understand their mistakes and take correction are those who move forward in trading. When patients is missing then losses would show up because at then such trader could be trading out of desperation and eagerness wanting to restore everything they had lose while trading. I often says that it is imported to wait for the right setup before jumping into market to trade otherwise it would be that easier for them to lose so quickly.

[Makus]

Without risk management there is no strategy that can work in the long run, this is why it is important for traders to practice this because this is what reduces the losses you incur. Having strategies isn't a guarantee of avoiding losses because no matter how we try to hide from them they are inevitable but when we are able use stop loss and always be disciplined about applying risk management there would be better results. A lot of traders blow up their trading accounts multiple times because of these reasons.

[freedomgo]

The success in trading does not happen because a profitable strategy is being applied, but its on the person or the trader itself relies the complete success of trading.

So having a profitable strategy without a well knowledgeable and skillful trader ends up nonsense and useless. The success factor should start with the trader itself, and when he starts to act as an asset in trading, eventually whatever strategy he will apply to his trades will end up profitable and productive.

The profitable trading strategy is just a tool, the qualities of the trader itself will be the one to guarantee such profitable outcome from trading.