Do 90 percent of day traders fail simply because of not understanding technical analysis well enough or is there more to it?
TRADINGFEATURED
"What sets apart those who beat the odds and reach the pinnacle of success?"
According to a report, a staggering 40% of traders throw in the towel within their first month of trading.
Take it one step further and 80% of traders call it quits within their initial three years.
Now, after 5 years in the trading game, only a mere 7% manage to stay in the ring.
Yes, just 7%. That’s how tough the road to success can be.
It’s not about not understanding technical analysis.
So, what sets apart those who beat the odds and reach the pinnacle of success?
It all comes down to a relentless combination of energy and persistence, as Benjamin Franklin once said “Energy and persistence conquers all things.”
In the world of trading, some of the traders have 5+ years of experience under their belts and have emerged victorious.
They preserved through the hardships, losses, and blown accounts and they honed their strategy and psychology to achieve consistent profitability.
Credit: Quora