Because they don’t follow a proven system that makes money. And when they follow it they don’t stick to it. They diverge into trying new strategy after new strategy as soon as one strategy hits a losing trade. They keep on looking for the holy grail. Looking for a ‘No Loss’ system that will always win and never lose.
Well let me reveal a well known secret to you. There is NO such system that never loses! There can’t be, its impossible. Actually, it is possible if you’re willing to wait forever, but who’s going to live forever? Imagine someone that bought GBPUSD when it was at 2.100 a few years back. How long would they be waiting to be bailed out? Trust me, you don’t want to put yourself in that kind of a position.
A recent study that FXCM did of their traders concluded that over 50% of the trades taken on their platform were PROFITABLE! But only about 35% of traders were profitable!
They’re risking more than they’re winning! They might risk $100 every time and then making $50 when they do win. They may win 60% of the time, but the 40% of the time they do lose, they’re losing much more.
Successful traders – you know… the ones that makes a minimum of 6 figure incomes – they have these two understandings ingrained in them:
Now lets face it, some of the systems that have worked for centuries still do work! Like Pinbar systems!
Because they’re not sexy! Most traders know them and probably use them sporadically but as a means of entering and exiting a market, oh no no no. You see, the real reason less traders are using them is because there are a lot of things to monitor and they take time to…