The Investors Business
gevers on Mar 10th 2010
Although not with our IBD subscription, we all read about outrageous statements on our inbox each day. “I’ll show you how I did $34 million in 2 years.” Or “$88,000 in 6 months as a complete novice.” The reality is there is a 80-95% failure rate in Forex or future traders. Get rich quick is an illusion. Get rich slowly by growing one’s account is what works.
What is the investors business? What are the reasons some fail? #1 is trader psychology. Fear and greed take over. The need to be right and can’t take losing trade. The thrill of the action. Risk management is another huge factor. The broker doesn’t care what you risk. Without risk management you can get wiped out with no planning or analysis.
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