It's a loser's game – officially
This post is modified and re-posted after it was banned (a matter of fact and the truth). Why? I was said to be promoting a broker’s website seemingly because by I identified the source of quotation and said that they were being honest. I have now substituted the name the broker with a fictitious ABCXYZ (which is not the name of any broker as far as I am aware). The rest of the post is the same. I promote nobody – not even myself. ESMA is not a broker.
The quotation is directly from an email I received today from ABCXYZ.com
ABCXYZ.com has been fully transparent on the risk of losing money on it’s platform.
Nothing in this educational post is to suggest that people avoid trading. The sole intention of this post is for new and season traders to better understand the risks, and to realise the amount of effort, discipline, training and sacrifice that are needed to become consistently profitable.
As a new trader your chances are very very slim, for making consistent profits over months or years. Some people think that it’s all about following a set or rules. Well, if it was that simple then 80% of people would just follow rules and be millionaires. That’s not going to happen!
For novices, the high probability of losing money is nothing to do with any particular broker. It must be something else! I’m afraid the most important factor is hardly ever discussed in forums. What’s that? It’s about ‘trader psychology’. It’s that unseen thing – the elephant in the room – that causes the problems.
I say, it does not matter what system you use to tackle the markets with, the underlying obstacle is ‘your psychology’. It is not about mastering the charts. It’s all about self-mastery. Any dissenting opinions? Have your say now.
For the avoidance of doubt or suspicion, I am 100% committed to helping other traders develop for absolutely no pecuniary or other advantage to me – ever! In other words, I’ll never take you to some site that sells tips, signals, or courses – where you’d start of at free but then have to pay to learn from some ‘inner circle’.