Reasons Why Most Active Traders Fail

Stuart McPhee, author of Trading in a Nutshell, discusses the main reasons why he feels that traders fail, and the fine balance between confidence and overconfidence.
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[@raimirosli3911]

he told us must have money management and trading plan.. money management is top one pro do.. but many ignore it.. because they one make fast money.. small boat want to catch big fish

[@MrNathan791]

Sounds like a winner.This how I plan my option trades.Having a plan is so important.These plans can really help to keep your emotions out of a trade. this is great advice.

[@Blaiserboy]

Some excellent points, Stuart. These are well worth paying attention to for new and experienced traders. Thanks for the video.

[@mykebulvai6627]

A plan is your strategy or methodology. Boiling it down it's basically when youre getting in, when you're getting out and the size of your positions. It covers money management as well, which is a fancy word for calculating position sizes based on risk/reward ratios and probability of system acquired through backtesting, hedging. The best MM book I've read: Money Management Strategies for Futures Traders. For a general overview probably start with the market wizards by jack schwager.

[@fannyfx1668]

Comparing to other similar sites: • We pay more: 50-80%, others 30% or much less • Faster: we pay till the 5th of next month, others on 25th or later. • We have more brokers: over 70 at this moment and are adding new ones all the time. • We use many payments methods: PayPal, Webmoney, AlertPay, Moneybookers, Neteller, Credit Card, Bank, etc. Others only Bank or PayPal. • And there are many more things that distinguish us and our program from the others.

[@Bronzebk]

Great advice, it works.

[@Theydonotcare]

Thank you.

[@artysm7]

Well said. What's the best online trading tool/ platform to use in your opinion?

[@me-clickltd1440]

Great show and you might think that capital grows and you are right

[@navketan1965]

Sir,Do you recommend pairs trading using forex( say EUR/JPY & GBP/JPY OR AUD/USD & NZD/USD)--correlations are 90% and that gives solid staying power & sharply cuts down draw downs. Buy underpriced pair & sell overpriced pair(say using 14 period RSI on 4H charts)? And there are lots of such pairs with 90%/80% correlations--and ALSO that would sharply cut down accounts blow ups even with A new trader.

[@drumfisch]

the man definitely does a good job in bringing worthy information forth.

[@mike569112]

have a plan. brilliant.

[@Raymanfan86sk]

Thanks tom

[@TRADERSFRIEND]

Great video!

[@jayjaygeebee]

what software do you use?

[@232323C]

may I ask what a plan is? exactly? I am just beginning to study this.....would appreciate any help....thanks

[@instituciontraderjoven]

Es increíble, todos volvemos nuevamente a la base y tener un plan de trading es lo que me hizo tener resultados, como dice los trader perdedores cuando se preguntan tienen un plan es si pero nose no saben por eso pierde. Toda la razon, adecua un plan de acuerdo a como eres y siguelo.

[@lobo851]

Good advice.

[@Blogverso]

easy, a plan is just a plan xD, for example, lets see you make back test and fine a strategy that works for you ( a strategy is a series of rules that you follow to enter and exit a trade ) so strategy would be th first criteria you will need 2, psycology ( the best example for this is when pple get out of the trades when they shouldn't just based on emotion. 3, money management, ( how am I gonna risk per trade, how much should I win etc ) thouse 3 together form a trading plan.

[@raymondcajigal4923]

I also heard about GDMFX from a buddy.If i join them,do they a forex tutorial or demo account to try before actually trading live?