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Why only 5% Traders earn ?

  
  Education
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“I believe there are a few reasons why only 5% make it.

1. They start in a position to not need to make a living from it. The need for steady money like a weekly paycheck will corrupt your thinking and force you to deviate from your plan of action that was so well thought out prior to the heat of the battle.

2. They do not need the money that they loose. The enormous amounts of money that it requires to learn to daytrade would exceed most people’s lifetime income. What makes the number of successful daytraders so low is that even the few who could make it, dont have enough capital to endure the learning curve.

3. They do not give a flying _uck about anything or anyones opinions of what the market will or might do. The very news and opinions that surround them becomes the mortar for their brick wall of defense that protects their completely independent thinking. (more…)

FEAR

  
  Education
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Fear is the main source of superstition, and oneof the main sources of cruelty. To conquer fear is the beginning of wisdom… Bertrand Russell

Fear is a misunderstood emotion, and one that gets a pretty bad rap these days. We owe our survival as a species to the hard-wired fear that protected and kept us safe from physical threats for hundreds of thousands of years.  But what about the litany of fears that plagues traders every day? Fear of losing, of watching profits disappear, making mistakes, missing out, taking profits too soon…the list goes on.

Perhaps the larger question is this: If there is so much fear and almost every trader feels fear, why do millions of people continue to trade?  The answer lies in the way that fear is perceived. 

For many, fear is a predator that is constantly lurking, sneaking up on them and ready to attack at any moment.  In this brain set, they are always running away from fear, crouching in a corner or looking for a safe place to hide. Fear blinds them to opportunity in much the same way that greed blinds them to danger.

 Fear is that little darkroom where negatives are developed… Ferdinand Pritchard (more…)

FEAR

  
  Education
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FEAR-Fear is a misunderstood emotion, and one that gets a pretty bad rap these days. We owe our survival as a species to the hard-wired fear that kept us safe from physical threats for hundreds of thousands of years. 
But what about the litanies of fears that plague traders every day? Fear of losing, of watching profits disappear, of making mistakes, of missing out? 
Perhaps the larger question is this: If almost every trader feels fear, why do millions of people continue to trade? The answer lies in the way that fear is perceived.
For many, fear is a predator that’s constantly lurking, sneaking up on them, ready to attack at any moment. In this mindset, they’re always running away from fear, crouching in a corner, or looking for a safe place to hide. Fear blinds them to opportunity. 
For others, fear is the prey. They move steadily and with discipline in the direction of the fear — always keeping it in front of them. As they approach the fear, they see it for what it really is. 
F.E.A.R.: False Evidence Appearing Real. They see fear as something to go through in order to get what they desire — better trades and more profits.  (more…)

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