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Transitioning from Successful Demo Trading to Live TradingHow to Avoid Choking Your Live Account The journey from demo trading to live trading is often more challenging than most traders anticipate. The image you’ve shared captures the key steps of this transition—from mastering a demo account to navigating the psychological hurdles of live trading. While demo trading is an essential part of a trader’s education, live trading introduces emotional and psychological challenges that many traders find difficult to manage. Let’s dive into the key stages and explore how to transition successfully without choking your live account. 1. Successful Demo Trading At the start, many traders achieve consistent results in demo trading. In a demo environment, there’s no real money at stake, which allows for calm, calculated decisions and plenty of room for mistakes. It’s here that you develop and fine-tune your strategy without the fear of financial loss. However, the ease of success in a demo account can create a false sense of security about your readiness for live trading. 2. Transition to Live Trading Moving from demo to live trading is a crucial moment. Many traders believe that because they are profitable in demo trading, they are automatically ready to replicate that success in a live account. However, the difference between the two is the introduction of real money and real emotions. The fear of loss and the pressure to protect your capital can interfere with the clear thinking that guided you in the demo environment. 3. Overthinking Begins In live trading, overthinking is a common problem that often creeps in early. Unlike demo trading, where decisions flow effortlessly, live trading introduces hesitation. Traders tend to question their strategies, second-guess their analysis, and get caught up in minute details that don’t necessarily matter. The fear of making a wrong decision becomes amplified when real money is on the line, often causing traders to overanalyze market movements. 4. Paralysis by Analysis As overthinking intensifies, traders can fall into what is known as paralysis by analysis. This happens when you analyze the market so extensively that you become too hesitant to make any trading decisions. Constantly doubting your entry points, second-guessing signals, or being afraid of missing out can lead to missed opportunities and a lack of trading action. At this stage, fear dominates logic, and traders may either overtrade or avoid trading altogether. 5. Trading Failure Inevitably, if you allow overthinking and paralysis to take control, it can lead to trading failure. This failure isn’t necessarily about blowing your account—it’s about failing to follow your trading plan, succumbing to emotional decisions, and deviating from the strategy that made you successful in demo trading. Fear of losing, coupled with poor decision-making, can lead to a downward spiral. 6. Need for Strategy When traders hit a rough patch, they realize the importance of sticking to a well-defined strategy. A consistent strategy should not only outline entry and exit points but also incorporate risk management, stop-loss placement, and clear goals. At this stage, traders must revisit their demo strategies and adapt them to the emotional reality of live trading. Importantly, the need for strategy isn’t just about the technical side—it’s about managing emotions and sticking to the plan under pressure. 7. Implementing Strategies Having a solid strategy is one thing, but implementing it consistently in live trading is a different challenge. This stage is where traders must learn to trust their strategy, let go of the fear of losses, and maintain emotional discipline. It’s crucial to trade small positions at the beginning to minimize the emotional impact of any losses. Gradually scaling up as confidence grows allows for emotional adjustment without the added pressure of large financial risk. 8. Successful Live Trading The final stage is successful live trading, where traders have mastered not just the technical aspects of their strategy but the emotional and psychological elements as well. Success in live trading is marked by consistent execution of a plan, disciplined risk management, and the ability to stay calm during market fluctuations. At this point, you’ve learned to manage your emotions, handle losses gracefully, and take profits when the time is right. Tips to Avoid Choking Your Live Account Start Small: When transitioning from demo to live trading, start with a small account. Even if you’re profitable in demo trading, your psychological state will change when real money is at stake. Trade with smaller positions until you feel comfortable managing your emotions in a live setting. Have a Trading Plan: Stick to the same strategies that worked in your demo account. A well-defined trading plan will give you clear guidelines to follow, even when emotions run high. Make sure your plan includes risk management and contingency plans for when trades don’t go your way. Control Emotions: Live trading introduces a range of emotions—fear, greed, anxiety, and excitement. The key to success is emotional discipline. Set your stop losses and take profits before entering a trade and avoid changing your plan mid-trade based on emotion. Risk Management: Risking too much on a single trade is one of the fastest ways to lose your live account. Never risk more than 1-2% of your total account balance on any trade. This will help you stay calm and reduce the emotional pressure to win every trade. Accept Losses: Losing trades are part of the game. Even professional traders have losing trades, but they manage those losses with proper risk management and emotional control. Accept that losses are a part of trading and avoid chasing the market or trying to win back losses impulsively. Regular Reflection: After each trading session, take time to reflect on your trades. What went well? What could have been improved? This reflection will help you adjust and improve your strategy over time. Conclusion Transitioning from demo trading to live trading is more about managing emotions than it is about mastering the technical aspects of trading. While the technical skills you develop in demo trading are essential, emotional discipline is what separates successful live traders from those who struggle. By starting small, sticking to your strategy, and managing your risk, you can avoid choking your live account and set yourself up for long-term success in the markets.
FX:XAUUSDEducation
by pow_removetheguesswork
Bitcoin - A failed head and shoulders pattern?Schwager (1996) suggests that profitability from failed patterns is often greater than from correct patterns. At the moment, #bitcoin is in the process of ratifying a failed head and shoulders pattern. With the daily candle already above this 45k range, it would imply a move further to the upside. Immediate upside is 48-49k while a larger move would put us close to the ATH's that Bitcoin was at previously. A couple other things we can notice is RSI has broken out of it's downward trend and is showing strength to the upside, MACD is also turning positive. the recent #BTC ETF will also give Bitcoin more inflow and exposure into the space giving more upside potential. That all being said - This could just be the formation of the right shoulder that has taken longer to form. If CRYPTOCAP:BTC falls back below 45k and into the 43k we would need to reassess the market and see what is going on. Cheers, TCD
Long
by ChartDudes
follow-up of a descending triangle formation on an index In NSE:BANKNIFTY there is failure of descending triangle pattern. When a descending triangle fails, it often leads to a sudden reversal or consolidation rather than a continuation of the prior downtrend. This reversal could result in a period of sideways movement or even a bullish breakout if buying pressure persists. A sustained rally above the upper trendline of the triangle could indicate a shift in momentum and potential bullish continuation. On the other hand, if the index fails to maintain upward momentum and returns to test the lower boundary of the triangle, it might indicate renewed selling pressure and a potential breakdown. Traders should always employ proper risk management techniques, such as setting stop-loss orders, to mitigate losses in case of pattern failures or unexpected market movements.
NSE:BANKNIFTYLong
by VanshikaUdeshi
How The Tr8dingN3rd Got SlappedIn my intraday-trading, I'm pretty good to make money on a regular basis. It's a long time since I got out of control. But yesterday, I messed up twice. I was going short in a level, where I knew it was the bottom. The S&P500 intraday Chart showed clear support. And if the S&P goes north, the NQ will too in most cases. Then I did not follow my (any) plan and did everything wrong. How could that happen? Well, I was distracted. I was DIS-Tracted - Off my track! This lead to Stress, which killed my Focus, and that was the perfect mix to mess up my trade completely. Not only that I made a loss, but I also missed out the HUGE move.... So, how to fix it? Go back to the roots. Pull out the "Flight Plan" and check every step in the process. It humbled me, and its GOOD. No super Trader...No Trading Hero...Just a Human with a talent that gets slapped from time to time. Happy Trading Y'all §8-)
CME_MINI:MNQ1!Education
by Tr8dingN3rd
2
The Story of a Failed Trader | OKXIDEASOnce upon a time there was a man who was a very poor and he belong to a middle class family but he had the ability to dream it. He was 20 years old and he also think that he spend all of had 20 years doing nothing, he was a dreamer. He wanted to become a rich man, he finding ways to become a rich man, he tried almost every thing but failed. One day he watched a video about trading on YouTube and he decided to become a trader, become a rich with trading and fulfill all of had dreams. He started to learn trading, he watched all of educational videos about trading on YouTube and spend had 15 hours every day just watching videos, now he knows about the basic trading he shifted to the analysis part of trading, he started to practice and learn the technical analysis. He find the method that he can trade with, he combined some technical indicator signals and created strategy for himself. Now he had very passionate about trading, wanted to open a real account and start trading with real account. He had some saving money around 500 dollar he deposited that money in the real account and start trading with that money. He started dreaming from the first day of trading and created some trading rules for himself like he had to take 10% risk per trade and don't take that trade which is below 1/1 risk to reward ratio. On the first day he had taken almost 3 trades and win all of them, now he was more excited for trading he had made $192 profit means something around 38% profit on 500 dollar account. He wanted to trade more but he was a little bit smarter one, he think that i am in profit and my wining ratio is 100% so why i just damage my wining ratio and why i just risk my today profit so he had decided to come back tomorrow. On the second day he had $692 total balance in the account, he had to play a little bit more smarter than a previous day and he decided to take 10% risk per trade of the current total balance $692 in the account rather than the starting balance which is $500. On the second day he take almost 4 trades and he won 2 trades out of 4 trades, now the account condition had almost break-even no loss & no profit, he decided to try again and trade more, he finding the reason to trade more and then he calculate today and yesterday total taken trades which is 7 trades, he think that i won 5 trades out of 7 trades so my wining ratio is almost around 70% which is good and i can trade more because my wining ratio is still above 50% so i am still in positive side. He trade almost 3 trades again and he lose all of them, now he had very sad and almost broken, he decided to step back and come back later. He sturdy himself and come back on the third day, now he had facing a little bit draw-down on the third day the total account balance is around 484 dollar, he started looking for the trades opportunity and at the end of the day he took almost 5 trades with the 10% risk per trade but the third day results had also again bad and he lose 4 trades out of 5 and just win 1 trade, he had very shameful from himself, he closed the laptop goes to outdoor and talk to himself. He analysis the current situation of the account, it that point the total account balance is around 276 dollar he almost around 45% in draw-down and the wining ratio had below 50% so now he entered to the negative side. On the fourth day morning he traded 2 trades and he lose both of them now he almost lose the hope and the account condition had around 72% in draw-down and he left only 138 dollar in the account. At the time he give up and he just decided to depend on just one trade, he just waiting for the best opportunity of the day and finally he got the trade but at the end he lose that trade again and he almost blow out had account. After that all he had stressful and sad from almost one week, he decided to leave the trading and move on to the next thing and he looking to find other things that suitable for him because he think that trading is not suitable for him. One month later he just scrolling on the internet and he see the FAQ that 90% of traders lose and only 10% had succeed, now he had a little bit shock and he think that its pretty normal every trader in the 90% had facing that stage which stage that i faced. He decided to come back to trading and start from the zero, he started to modify had strategy and created new rules for had strategy like he set this time risk to reward ratio for had trades is minimum 1/2 and he decided to risk only 2% of the total account also he decided to take only 2 trades per day, this time he opened the demo account rather than the real account and start trading with demo account, he decided to journal had journey and after one month of consistency he hadn't break any rules and when he see the results after month he had profitable, now he feel like stronger and he continue the journey with that same demo account after three months he had similar results and still profitable. In that time he think that i don't have much money and in trading it's required a lot of money to earn a lot of profits, he started to search for that how he had to prove himself to big investors and raise money for himself to trade. One day he searching and he knows about prop firms trading now he had interested in that and wanted to know more about prop firms, he think that this is the big opportunity for himself to become succeed quickly, now he decided to trade with prop firms and buy the challenge from the prop firms, he adjusted had strategy rules and trading plan according to the prop firms requirement, now but the only problem is that he don't have money to actually buy the prop firms challenge. By the way he was dropout from the school after completing had secondary education and so he just setting at the home, he don't have much money to buy the challenge, the pocket money of him had just depend on him father and he hadn't want to say to father to give me extra money because of him father was very poor and he work as a taxi driver, so then he had decided to get the any kind of job for himself and try to earn some money in the form of salary and buy the challenge with that money, he worked hard and after one month he got the salary and then he just swift to the prop firm website and buy the $50000 account challenge for himself, now he started trading with challenge account phase one, on the phase one he decided to risk only 1% per trade, take only 2 trades a day and the every trade risk to reward ratio had to minimum 1/2 after one month of consistency he gained +8% profit, he was in profit but he hadn't achieved the prop firm required profit target which is +10% in that case prop firm gives traders free retake so then he take the challenge again with the new account and new month from zero and he think that my wining ratio for the previous month is almost around 40% with minimum 1/2 risk to reward ratio and my daily limit is 2 trades so i need to increase my daily limit from 2 to 3 because if i traded with the same rule 2 trades a day then i hadn't pass with 40% wining ratio. He calculate some numbers like he think, if i take 3 trades per day so then at the end of the month my all trades had to be 60 trades per month and if i maintain my 40% wining ratio then i can easily pass the challenge with that mindset he started the challenge and strictly follow the rules after month he hadn't maintain the 40% wining ratio and he end up with some loss and failed the challenge, this time he almost faced big depression after some days left he realized had mistake and he think i made mistake that i increase my daily trades limit because of this my wining accuracy goes down, i just forced myself to take 3 trades per day and get trapped into the normal trades. At that time he hadn't left any pathway he almost try everything but at the end he faced failure, him father had now getting older and he decided to step back again he start going to the normal job and start saving 30% of had salary, he do that job for almost one year and after one year later he had some saved money in the bank account to buy multiple 10x challenges, he come back to the trading but this time he hadn't leave the job and he do trading like part time thing. He started had journey again he decided to hadn't give up and repeat the process so then he started buying challenges after one by one in some challenges he failed in phase one in some he failed in phase two in some he almost pass the challenge and got the live funded account but hadn't get payout and lose the account in the first month. The journey had started goes on and he just repeating the process and doing try again and again. Will be continued..... Some lessons from the story > Never open real account in the start, try to learn first on demo account. > Don't try to be smart in the front of the market. > Don't lose hope in draw-downs just repeat the process of your trading plan. > Take every trade with the hope of wining. > Never depend on a single trade. > Don't leave too fast stay in the market. > Give yourself enough time to create the solid proven strategy that works at least for you. > Respect your trading limits. > Don't depend on just trading and never leave your job, consider trading like part-time thing in the starting. > Learn from your mistakes and improve your performance. > Make mistakes but don't repeat that mistakes again. > Never depend on small capital always look for an opportunity. > Journal your journey, record your trading performance and improve next time. > Don't fear from failure. > Be patient, market is here not going anywhere. > Don't force yourself to take normal trades wait for good opportunity always. > Don't count the numbers, you need to count the percentage. > Don't try to be rich quickly. > Step back, if you damaged from market then simply step back and come back stronger don't try to fight. If you learned any other lessons from the story, let me know in the comments. What you feel about one day he will be succeed or just the failure always, also let me know in the comments. I hope you enjoyed the story, appreciate my work with like comments and share. I wish you good luck in trading.
Education
by TheLoserMan
1
Top 10 Reasons Why Traders Fail?There are many reasons why traders may fail. Some common reasons include: Lack of a trading plan: Having a clear and defined trading plan is essential for success. Without a plan, traders are more likely to make impulsive and emotional decisions, which can lead to poor results. Poor risk management: Risk management is a crucial aspect of trading. Traders who do not properly manage their risk are more likely to suffer significant losses. Lack of discipline: Discipline is important in trading because it helps traders stick to their trading plan and avoid making impulsive decisions. Inadequate knowledge and education: It is important for traders to have a thorough understanding of the markets and the instruments they are trading. Without proper knowledge and education, traders are more likely to make mistakes. Overconfidence: Overconfidence can lead traders to take on too much risk, leading to significant losses. Emotional trading: Emotional trading can cause traders to make impulsive and irrational decisions, leading to poor results. Not adapting to market conditions: Markets are constantly changing, and traders must be able to adapt to these changes in order to be successful. Not staying up-to-date: Staying up-to-date with market news and analysis is essential for traders. Those who fail to do so may miss important market developments and make poor trading decisions as a result. Not having a trading mentor or coach: Having a mentor or coach can provide valuable guidance and help traders avoid common mistakes. Lack of patience: Patience is a key trait for traders to possess. Those who lack patience may make hasty and impulsive decisions, which can lead to poor results.
NSE:BANKNIFTY1!Education
by algostudio
Reminescence of a Scam Operator (ANTI SCAMMER GUIDE)Reminiscent of the roaring 1920s, the 2020 epidemic and the inability to work for many people brought an influx of new retail investors to the public market. Furthermore, the FED's decision to prop up the market by dropping interest rates combined with stimulus checks handed out by the U.S. government lured in even more investors who were hungry for profits. Although the market sensation also brought a rise of omnipresent scams across all trading platforms. Lack of workforce, sophisticated methods, and automated bots often play into the hands of perpetrators who try to get ahead of the platform and its users. Therefore, we decided to write this concise article with the purpose of helping new investors to recognize good apples from bad ones. The most common means of communication for criminals is to use private chat, public chat, comments, ideas, and headline references. Several examples of red flags are shown below. RED FLAGS AND OTHER POINTS: Asking for personal information and TradingView account information One common tactic criminals use to exploit their victims is to ask for personal information or account information (login and password). This information should not be disclosed to anyone, including someone claiming to be a platform's employee/support (as these people tend to have access to this information). Asking for trading account information Another standard method bad actors use is asking for trading account information. On such occasions, a perpetrator asks for existing account information or requests a victim to create a new account; then, a perpetrator usually asks the victim to invest money into the account and let them use it in return for shared profits. False promises The third point probably accompanies every other point on our list. This point relates mainly to false promises about trading achievements, which often include statements about having a high win rate, high net worth, and an unbeatable trading system. Financial gurus and lavish lifestyles A high follower count and strong social media presence do not equal reliability. Perpetrators often portray lavish lifestyles across social media platforms to entice more people and trick them into buying a trading signal service or trading course (or any other service). The public image does not necessarily have to match a person's authentic lifestyle. Indeed, trading as a career is highly time-consuming and does not come with trading from a vicinity of a pool or ski resort; that is just public perception. Trading signals and trading courses Unfortunately, most of the time, trading signal services (for buy) lack performance and do not consider subscribers' risk tolerance and account sizes. In regard to trading courses, we hold a similarly low opinion of them as we think learning a skill to trade goes far beyond a few hours of any trading course. Unrealistic win-rate claims Most brokerages report that their retail clients lose about 50-90% of the initial capital, especially when trading CFDs. Therefore, we would like to put in perspective how realistic claims about a high win rate really are. Professional traders tend to peak at approximately a 50% win-rate over a consistent period. Thus, claims about a 90% or higher win rate are likely to be false. Guaranteed moves and risk-free investments Another tactic of scamming utilizes guaranteeing moves in the market. However, there is nothing like a guaranteed move since the market constantly changes and is influenced by complex factors. These are just few points we included, however, we ask a public to share their own points in the comment section. DISCLAIMER: This content serves solely educational purposes.
Editors' picks
SP:SPXEducation
by Tradersweekly
70
Bitcoin - Time for a Higher LowBitcoin has given us a a 40% rally from the lows in this most recent correction. Market structure has shifted bullish by giving us a higher high. We have not yet been given confirmation with a higher low. It has formed a daily SFP (Swing Failure Pattern) by wicking above previous structure and closing below as a bearish hammer. This is a perfect opportunity to fill some structure below and give us a higher low. Targets I am looking for a bullish pullback to are as follows: Light pullback @ 40-42k Deeper pullback at 38-39k This idea is invalid if we begin to close the daily above $44,500 - we likely continue higher if so. In times like this it helps to zoom out - $BTC is in a macro correction that cannot be properly traded on a 15 min chart. Long term swings need long term charts. I am still macro bullish on this asset class - but a 40% rally needs to fill some inefficiencies before it can move higher. - Will, OptionsSwing Analyst
Short
by optionsswing
1
XAUUSD - SWING - 18/09/20Short Example Manipulation in liquidity zones. Continuation failure www. investire.pro The simple way to access truly profitable investment. Plans: Standard - Expected monthly return of 7% (Minimum investment $50) - (No fees) Super - Expected monthly return of 12% (Minimum investment $2k) - (No fees) ------------------------------------------------------------------------------------------------- How much can I invest (minimum and maximum)? Our standard plan has a minimum investment of $50 and maximum of $1,999 while super plan has a minimum investment of $2,000 and a maximum investment of any amount. What is my expected returns on investment? Our standard plan offers a monthly ROI of 7% while our Super plan offers a monthly ROI of 12%. Can I make more than one investment at a time? Yes, you can. Every investment under you are treated individually hence you receive weekly earnings per investment. How do I make an investment? On our platform, you can make investment through crypto wallet, Skrill or Neteller
OANDA:XAUUSDShort
by Investirepro
What are your odds of making it? How many get rekt?We have all heard anecdotal evidence. Every one throws random numbers around "be in the 80%", "be in the 91%", 99%, 90%, 75%, all sorts of numbers, usually the failure rate is pretty high and success is low. Day trading, or longer term. Real estate same story. And for long term investing you will hear "90% don't beat the market". I am looking at speculating here rather, althought alot of numbers take into account long term investors so keep that in mind (I'll repeat it when accurate). What is very often said is that winners have high reward to risk, and aren't day trading. From what I have seen around it looks to me that the people that make money day trading pretty much all scalp support levels with level 2 market data, or that sell programs and signals. No personal and anectode from here on, or maybe a little as bonus, I will look at studies. 1- AMF (french regulator) study of a popular broker clients over 4 years. The name of the report is "Étude des résultats des investisseurs particuliers sur le trading de CFD et de Forex en France". Now, let's get into the fun stuff. Seems small compared to the markets (forex + stocks + indices + more). Do retail traders getting wiped out really change much? Big institutions make more profit than a couple hundred millions over 4 years... Large speculators that make money, must be from hedgers and whales mostly. I don't think retail holding bags & gambling adds much. A large part of the lost money came from idiots placing tons of orders. How much is lost in spreads? Checking by volumes, those that did 1 to 10 million lost on average 3700 euros.... Say the average volume they did was 4 MM, that's a 0.01% loss... Looks like they are coinflip warriors that day trade and just lose money with spreads? My opinion the very few orders ones (losses are quite high compared to very small number of operations) are those that either go "all in" an a hunch and lose and leave, or get lucky, get excited, go in big, get shrekt, get scared, leave. And also those that start and can't stop losing, bad luck streak, disgusts them so they quit. So ye, the ones taking "big" losses early one are the luckier ones, they give up quick and never come back and don't waste time & take massive losses. 2- UKNF (Polish regulator) reports "Komunikat w sprawie wyników osiąganych przez inwestorów na rynku forex" (Communication on results achieved by investors in the forex market) 2 reports. Can't find the older one unless this is it. "The New York Fed’s Foreign Exchange Committee volume survey released in 2016 shows that trading by volume “non-financial customers” in April 2016 was at roughly 7% of all FX trades." Nice, nice. No, 93% are not making money off the 7% of small fish (just making a little, a rounding error in their profit). 3- FXCM report (they're a broker) I am so thankful for all of the 16-24 yo Forex experts, I can't help it I always get hysterical when I see their little faces or even just talk about them 🤣 If I meet someone that looks all defeated and tells me he got scammed by such an individual I guess our friendship will quickly be over because I won't be able to help just laughing in their face. I roasted an "educator" on tradingview & twitter, he threated to sue me + others. After he had already scammed people. And he repeated it. TV staff correctly banned him permanently, haven't heard from him since. Lots of clients were defending him. All their money is now belong to him. 4- 1999 NASAA report "REPORT OF THE DAY TRADING PROJECT GROUP" by the "NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION". As we have seen the vast majority of retail are day traders, so this sort of will tell the same story. In 1999 the business was not as developped, a largest percentage of participant very likely were more seriously, most no effort get rich quick with my 22 yo educator indicators gamblers joined later. 5- Brazil 2019 study of day traders I'm just reading an article here. I think the study can be found on the SSRN website. Had another paper from this site but it was a study on a voluntary survey of traders lol, so not worth anything. "We observe all individuals who began to day trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms of volume in the world, and who persisted for at least 300 days". Ok so this paper is worth something then. They quote some old papers when day traders didn't compete with HFT firms, high success rates of course (I don't know if it counts locals, because I mean that's not speculating). 6- Article from Tradeciety (quoting their sources) 7- Do Smart Investors Outperform Dumb Investors? 2009 paper by Grinblatt Keloharju Linnainmaa. From... Some Chicago school of Business? Found it on Yale department of economics site. Robert J. Shiller personal page (Shiller PE ratio). Seems legit enough. 8- What about non day-trading market participation? Well, there is absolutely nothing! It's all about day trading. Like not being clinically retarded is extravagant. So to sum up: The ~76% money losing rate european brokers display on average, I think is over a quarter. China literally totally banned leverage with FX (wonderful country), and you wonder why Bitcoin and other ponzi schemes have so much success? And crypto baghodlers actually expect China to not entirely ban crypto eventually... They are slow and incompetent but they'll get there. And this is a classic commie tactic: Let them think you are pro crypto, they pop their head out, you can arrest them. When they'll have arrested all those involved with crypto they wanted to arrest, they are going to lay a blanket ban on all cryptos. There is no hope, there is no light at the end of the tunnel, more and more brainlets are treating the markets like a casino, and it might only be a matter of time until it gets completely banned for retail (thanks, always protecting the morons). Stats are not that bad. 90% lose over a 4 year period? Maybe 90-95% of all those that join end up eventually losing or quit after a short while? It's not that bad. And remember a whole lot are stupid day traders, and they destroy the average. In the first year 60% of restaurants don’t make it past their first year and 80 percent go out of business (get rekt) within five years. In the first year 80% of retail traders don't make it past their first year and 90% go out of business (get rekt) within five years. Not much surprise here. Lmao at all those celebrities restaurants that fail completely! 😄 Not talking about famous chefs, I mean action movie actors & the such. Restaurants failure rate isn't counting the recent "min wage raise" in the USA. Good luck with those. Success rate would honestly go to zero. Simple maths. Politicians are really really stupid. House flipping is a very intelligent activity and has about the same success rate as day trading. US bureau of labors stats show that small businesses in general have a 50/50 survival rate over 5 years and 25% over 15 years and that's quite high. Most "educators" are either young or old (uuu the experience right). Studies show middle-aged men start the most successful businesses. Middle aged men are too busy doing actual stuff? I am between young and middle aged myself if you were wondering. I could go look for more stats but it's all the same. Success rates are never 100%. And the harder something is (because of hygiene regulations, because of cognitive demand), the lower the success rate. Medical schools have an acceptance rate of 7% on average, but that's not saying that 7% of all people that apply get in. "MCAT and GPA Grid for Applicants and Acceptees to U.S. Medical Schools, 2017-2018 through 2019-2020 (aggregated)" ==> 42% Teens with low scores don't even bother applying thought. And once in school how many end up with a doctorate? Sooooo... Speculative trading is one of the hardest activities, it is one of the hardest psychologically and most cognitive demanding. I crack up when people try to cheer themselves up and go "smart people don't make good traders because emmm ego n perfectionists n stuff". It's really not surprising that the failure rate would be at that level. Medical schools have a barrier to entry, which is why the failure rate is not as high, but absolutely anyone can start trading or open a restaurant. Obviously failure rates will be higher, and much higher in the case of speculation. Just imagine the average person. He's not very smart. Most people are somewhat isolated from the rest of the population. Engineers are surrounded by people with master degrees and doctorates, not janitors that can't add 2 and 2 and think Bloomberg can give 1 million to every one (lol). The average person is not very bright, and 50% people are dumber than this! In the 90% failure rate you got all kinds of delusional clows, all the bottom feeders are here. AND! Remember! This includes a big majority of day traders! I don't know what the numbers are for non day trading, but over a 5 year period the failure rate might only be 70% or so! Cruel reality is cruel. If you are rather smart, or at least non-retarded. Let's say you are in the top 25% of people (> 110 IQ), you have a real chance of making money if you put the effort into it. Probably doesn't need to be a genius. Just to make some money now I'm not talking about making millions either. 90 to 110 IQ I don't know. Slow people under 90 IQ, it's my personal opinion they can't possible be successful. Just my personal opinion. Like my personal opinion is that people with (today's) IQ < 90 have never and are never going to solve any math problem, or find some new elemental particle, or build a rocket, etc. If they manage to remember how to lace their shoes and fill a welfare request document that's real good, and that's all society will ever require of them 😉. Marathons, Chess, stuff where you can't cheat. Masters in those disciplines reached the peak after training for decades. Musclemen... Activities where you can take steroids... "The Mountain" became one of the strongest men in the world 2 years after lifting his first weight. Now his face is deformed 🙃 Strongment events that rely on strong joints not just muscles, in other words steroids don't help, interestingly their records haven't been broken in a century+ The public thinks they can get something for free. They think they can have success in something instantly, like it's a web link, just clic and here y a go. The gall. You got people so stupid they don't even understand how stupid they are, they struggle with the most basic concepts, and they casually think they're the greatest mind of all time, and will become some super hero beating HFT firms and outperforming Jesse Livermore etc. That amount of delusion is absolutely staggering. What more can I say. Anything other than flipping burgers takes time and effort and brains or brawns and sees some people fail. The competitive activities have higher failure rates. The more competitive, the lower the success rate... Why am I even typing this... But sure, I'm going to keep seing thousands of newbs land every months, and chase the twitter expert, or look for the person that joined 2 months ago and said "price go up" just before the price goes up (not joking I saw someone like this recently and the update idea after the breakout had literally in the first line "Volume is low not a good buy I am looking to short", literally the first line, and newbs that saw "green candle. price go up" are celebrating the "great call"). Absolute pieces of ****. I don't always read everything, or watch entire videos, I read diagonally and I think every one should, I pick bits in articles I am interested in, and I think that's what people should do but maaan. If you're not even going to bother reading the first sentence and are jsut looking for the traders with the most successful apparent last few calls, you really deserve to lose everything. It's like the USO buyers that didn't bother finding out what they were buying. Or stock & FX traders that never touched a future and then went all in Oil without learning what it was or anything. That's really insane to me. They certainly deserve to get wiped out. If I may give some tips around all this:
Education
by MrRenev
13
Trade Journal: Short $GSX - Inside Day/Support Failure - 4/6/20Friday, GSX experienced heavy selling throughout the day with a nearly 15% drawdown by the end of day. Throughout the bear market, GSX has been resilient and is considered relatively strong compared to other sector stocks. This changed however when GSX clearly broke a support level at 34.50 on heavy volume Friday. Despite the bullish price action in the markets, today's inside day candlestick reflects the continued selling in GSX. This is an very opportunistic time to get short GSX for a possible flush on low risk. The 30m timeframe also reflects the bearish price action in GSX as price broke below and rejected the support at 34.50. Entry - 33.78 Stop loss - 35.04 Target - 25
GShort
by Trader_Kaji
2
XLE - weekly charts - mild consolidation before further failureLet us again look out on how XLE is shaping up (previous analysis attached for your reference) Price moving just as expected, as evident in the charts, we had support on $ 53.36 levels , which was 24th Dec 2019 low. Price closed at about this level over the last few weeks but during the week, this level was breached. Minor cycle low formed 27th Jan 2020, 2 weeks later than we expected. As we move ahead, the next minor cycle and the major cycle will be moving upwards and the intermediate cycle will start to curve downwards. Following Hurst's principle of summation, we could expect the price to try and move higher over the next weeks. So far price has been making lower highs and much lower lows, indicating downtrend. Expect a failure on any attempt tp move upwards and intermediate cycle bottom around end of March 2020. Larger trouble remains ahead near Aug 2020 end as we would be seeing a bottom of all 3 cycles together. Keep an eye on how these charts develop to maximize opportunities of gain. If you like what you see, share a thumbs up and follow for more updates Cheers
AMEX:XLEShort
by LoveForCharts