Was just reading an article about why there are so many loosers in the world of trading.
The article says 90 %(unverified figure) of the traders lose money . There are many reasons which is in a way hard to believe to even a guy who continously looses in the market, some of the reasons i am discussing below :
1) traders are egoiastic people, they think they can see into the future , wheras the fact is that no body has that vision to see tomorrow.
2) ED seykota famously said that eveybody gets what they want, loosers want to loose money in the markets, hance they win by loosing money. For a looser this is difficult to accept, but the fact is deep inside he doesnt want to win in the first place.
3)People tend to loose all rationality when it comes to money, and since trading is directly connected to money, traders are never able to make objective decisions.
4)9 of 10 people in trading is looking to take short cuts to make money , remember the words no gain without pain .
5) Contrary to what people think, trading is not about finding a magic system which gives pricise entry and exits , such a system is not created yet and will never be created.