What Wall Street Cannot Teach
New traders often just want to know how to set up their charts so they can hurry up and make money.
Most people who are interested in learning how to become profitable traders need only spend a few minutes online before reading such phrases as "plan your trade; trade your plan" and "keep your losses to a minimum."
For new traders, these tidbits of information can seem more like a distraction than any actionable advice.
Why 97% of Traders Lose Their Money?
Scientist discovered why most traders lose money
"97% of all traders fail" is the most commonly used trading related statistic around the internet. But no research paper exists that proves this number right. Research even suggests that the actual figure is much, much higher.
In the following article we’ll show you 24 very surprising statistics economic scientists discovered by analyzing actual broker data and the performance of traders. Some explain very well why most traders lose money.
To begin with, one of the most basic things that a trader is in need of in order to reach success is the branch known as psychology.
As known to everyone, it is a crucial element which rules everyone's life individually so consequently, it can also be the most dangerous aspect.
The reason as to why is because in a trader's life, it is so easy to fail at any moment in the industry of forex because of four components which can easily bring someone's account to zero if he is not cautious.