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why people fail at trading

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31 REPLIES 31
Super Contributor
that and the fact they dont have access to live charts, while trading highly leveraged short term instuments..lOL
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Regular Contributor
I disagree with the statement "In other words, markets change their behavior faster than people can change their minds. And that is why intraday trading is so difficult." The problem does not lie in changing your mind, it lies in having a mind (prediction/anticipation) in the first place. When you trade intraday, you trade in the noise and the market can turn on you at any time. Changing your mind implies discretionary trading and that is a killer on small time frames. The smaller the time frame the more mechanical (with entries and exits) your trading needs to be if you want to succeed.
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Valued Contributor
john ?? so you really believe it is all about live charts ?? it is that simple ?? we supply live charts an hey presto ?? hmmm
my best trading system doesn't even need live charts ..
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Super Contributor
sure..I agree. but your system did not start there..and having live charts, means intraday info..and since the market is closed at night..I recon thats quite important.
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Super Contributor
one thing is for sure, without a live chart.. you are going to lose lots of clients, with x10 gearing!!!
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Valued Contributor
so no clients at IG loses money ?? cozY they have live charts .. never knew it was so simple ..
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Super Contributor
people lose money and chart have nothing to do with it, but Information is an edge, and not having it makes it tougher..Maybe?
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Super Contributor
people lose money because of the negative spreads..spread betters prove that.. Also over trading..OMO
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Not applicable
Basically what Simon is saying: OST derivative trading is exclusively built around Simon PB's trading style, also if you cant afford live price streaming then you dont have the capacity to trade. But if you have the capital capacity and not the mental capacity..err then you gonna leave with no capacity at all! K#k of betaal is die wet van Transvaal :)
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Regular Contributor
an whatever streaming you get here is constantly unavailable..again
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Super Contributor
Simon - I think the biggest issue here is competitive edge - I've enjoyed trading with OST - but I have to say, that I use IG charts for over a year now, and it makes the WORLD of diffs - even when I'm holding a std share I use my tic chart running in the background as an indicator for reversals on trend or for opportunities in entries and exits. The most FUNDAMENTAL thing, Simon, is that as I become more comfortable with geared products I will DEFINATELY move to another platform to trade off .... if you are loosing me as a client because of limited tools - you are pretty guaranteed to be loosing many other clients too. And sad thing is, that its the traders who are getting good at it that you'd like to retain, and we the ones you are kissing good-bye .... speak to your powers that be!
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Not applicable
Ok you may call that bad service
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Super Contributor
Guys, we live in a realatively free market. It's been proven a million times that those who offer the best product at the best price will always win over those that don't. If you don't feel OST is providing you with the means despite desperate plea's from its customer's I suggest Ideal.....same platform as IG, same group as IG, same access to markets....hell you can even trade the Dow, Ftse, Hang Seng etc etc from a RSA bank account. I agree that OST is lagging but remember this is not a dedicated trading house as Ideal is so there may be a few limits to its ability to deliver a world class platform. I for one am frustrated by the lack of options however am very grateful for the training provided. If OST were to offer the same trading platform as Ideal.......? Hell I would close my Ideal account this afternoon and never look elsewhere as my platform needs would be fully met and I would as loyal as a labrador due to the fantastic free training that has been offered to me.
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Super Contributor
Well - there you have it. I will definately look into IDEAL. At the mo, SFM is convenient for me, but if I am cornered to a point that I open an Ideal acc, I will move my funds and trading there and only keep this account active to chat to all you odd-balls!
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Valued Contributor
ah, an edge - sure .. but still even with an edge the vast majority lose money .. the bigger issue is that people seem to think that if they have the right software, chart, hair style or what ever then they will make money .. simple not true and it is dodging the real issue, that they are the reason they fail ..
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Valued Contributor
an you initial comemnt played straight into that lack of responsibility ..
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Not applicable
There are some people trading only on sma's, one of the most profitable simple systems around. when those 2 lines cross then you need to sell immediately not wait for the end of the day and lose out to the spread!...
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Not applicable
Simon, you said a few posts back that OST and SFM or whoever dont care about the market side as you guys sell risk, hedge against it and all the other great profit driving tools OST/SFM use.

So the shortest argument is actually what do you care what tools the clients want to use to loose money? If they have free live charts and still cannot trade so be it, its not OST/SFM that forced them to loose the bucks, and your argumant hold true that THEY are to blame.

On the other hand if live charts do offer the edge and OST/SFM retain profitable traders, like you said MUCH BETTER FOR OST/SFM cause you guaranteed repeat risk selling business.

simpler it cannot be argued.
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Super Contributor
Looks like OST is becoming the facebook (twitter0 call it what you like of traders everyone chats here and trades somewhere else. OST very good feeder programme for other more sophisticated platforms maybe they should charge a finders fee to Ideal/IG
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