if 100 chimpanzees randomly clicked byy or sell on a trading platform half would win and half would lose yet according to broker stats 70% of Traders lose each month which means human Traders are either a special kind of stupid to perform worse than monkeys or there's a conspiracy forcing you into failure welcome back everyone in this video I'm going to explain the very unpleasant truth behind why Traders fail and the very specific thing that you need to do if you want to succeed first off these are the hard stats as proof all regulated Brokers by
law have to publish the percentage of Traders on their platform who lose each month the average is 70% but a 15-year study was carried out following 300,000 Traders and that revealed that in the long run 98% are losers a 98% failure rate makes trade in the most difficult job in the world you've got a better chance of being accepted to massa's astronom program than you have of making a living from Trading and yet thousands of social media influencers are constantly telling you that trade in is easy but if you just buy their course or follow
their signals you will get rich the truth is more people make money teaching trading than trading selling courses is how these internet Traders really make their money but there's something even worse behind that massive scam those trading influences have in a way been scammed themselves a lot of them probably believe what they teach is true because the useless information they teach was taught to them by people legitimately regarded as experts people that we in society respect this whole sh show starts right at the top with the economists those are the people at the top of
the pyramid who spread the misinformation in the first place that everyone else simply copies and repeats you see trading has got nothing whatsoever to do with system market knowledge charts patterns rules mathematics economics fundamental or technical analysis news or any type of research let me give you a very striking example of this myON skulls is a Nobel prizewinning Economist he is one half of the very famous black skulls model used to price derivatives he's widely regarded as a genius and arguably there is no one on the planet who knows more about financial markets and how
they function than him in 1994 he set out long-term Capital Management one of the biggest hedge funds in history everyone who was anyone invested in him because he was the genius who had decoded markets in 1998 his fund blew up and lost everything he not only blew up his fund he nearly took out the entire world economy he was that bad the US government had to intervene to prevent a worldwide collapse this genius Market expert didn't have a clue how to trade I recommend you read the book when genius failed if you want to see
exactly what a clang performance it was myON skulls knew more about the market than anyone else and he had the resources and Technology to exploit every Edge and markeet inefficiency that he wanted to but he had no idea how to trade and neither did any of the economists or mathematicians or analysts or Market experts or computer scientists he employed because trading is nothing to do with financial markets trading is an entirely mental Endeavor how you think and make decisions is all that matters psychology did you hear that that was the sound of losing Traders clicking
off this video because they don't want to hear the truth psychology is boring actually it's worse than that it's hard work and they are trying to get rich quick without any effort someone on Tik Tok told them that was possible the truth is if you want to succeed at trading you need to work on yourself not your system not your market knowledge if market knowledge mattered economists and college professors would be the billionaires instead they earn a low salary teaching people theory that has no practical application or benefit for real trading if you want to
know what a real Trader looks like think of poker players poker is the closest thing there is to seeing what it takes to be a Trader professional world champion poker players obviously know the basics about cards odds money management Etc but they're all experts in human nature and rats r a wh again and again and again real Traders have the same qualities you need to be an expert on human nature so you can manipulate it and exploit it let me give you a quick example of this to show you why it matters your favorite sports
team always plays it safe when they're winning when they're ahead they don't take risks and potentially throw away their lead but when they're losing they do take risks they were already behind so they may as well take a chance to make a come back your ancestors did the same thing there is no point risking injury or death trying to hunt a woolly mammoth when you already had an abundance of food but if you were starving to death you'd take our tider because there's nothing to lose that is human nature it's hardwired into our Behavior we
avoid risks when we're winning and we take more risks when we're losing it is literally a survival mechanism and one of the most powerful that we have in trading you must do the opposite you need to push your luck and take more risks to maximize your profits when you're winning but when you're losing you need to step out walk away play it safe now I want you to think about your own trading and be honest what what do you do when you're in a profitable trade have you ever closed it early to bank that profit
probably yes and that's playing itself have you ever Trail the stop up tightly to lock in the profit and prevent giving too much back probably yes and again you're playing it safe and now look at your losing trades have you ever widened the stop to give it more room to breathe in the hope that the market will turn around and come back into profit have you ever increased your position size after a loss to try and win that loss pack more quickly have you ever averaged in and added more positions as the price goes against
you so that it doesn't need to come back so far to break even probably yes to all of the above and that is increasing your risks you're behaving exactly how you're supposed to in normal life you're obeying your natural survival instincts but in trading it hurts your results and it's the reason you will always lose as a Trader you've got to do the opposite of how humans are wired you've got to go against every Natural Instinct you have to be able to do that first of all you need to recognize your behavior and understand what
is happening and why and then when you recognize how you're acting you need to override your Natural Instincts and do the opposite and that is not easy unless you know the techniques I will never sell a trading course because no one has ever learned to trade trade from a course I can teach you everything you need to know about the markets I can teach you all the rules of a profitable system but none of it will help you unless you learn to trade and trading isn't about markets or systems it's about you systems Don't Make
Money traders make money and Traders are masters of human behavior and decisionmaking the awful Secret in trading the reason 98% of people fail is because they are learning completely useless information if you think any kind of analysis will help make you a Trader you're wrong if you think any kind of assistant is going to make you a Trader you're wrong you could learn all the rules and strategies in poker from a book but you will never be a good poker player until you master human psychology trading is the same you can learn all there is
to learn about the theory but until you become an expert in your own psychology you will never succeed to succeed stop looking at charts and start learning to think and make more effective decisions it's all about what's in you not what's out there I hope you find this interesting and helpful guys if you have please subscribe to the channel if you haven't already and hit the like button comment and share the video if you want to be especially nice and help me get this content out to more people with your support I'll keep uploading information
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