FREE DOWNLOAD: http://www.highvelocitymarketmaster.com/capitalgrowth/ -- Capital Growth App! Statistics say that over 95% of traders fail. We read that all the time and it really shows up in marketing material for the latest and greatest trading system. That number is enough to make anybody doubt their ability to find trading success. For all the mention of 95% though, it does bring up some important questions and highlights an aspect that you must have to have any chance of success. see more: http://www.netpicks.com/trader-success-or-failure/

1. Trader Success Or Failure
http://www.netpicks.com/trader-success-or-failure/

2. Statistics say that over 95% of traders
fail. We read that all the time and it
really shows up in marketing material
for the latest and greatest trading
system.

3. That number is enough to make
anybody doubt their ability to find
trading success.

4. For all the mention of 95% though, it
does bring up some important
questions and highlights an aspect that
you must have to have any chance of
success.

5. For a few hundred dollars, anybody
can open up a trading account and
buy/sell an instrument. Using the
following standard definition, that
would make this person a "trader".

6. "A trader is person or entity, in
finance, who buys and sells financial
instruments such as stocks, bonds,
commodities and derivatives, in the
capacity of agent, hedger, arbitrageur,
or speculator. - Wikipedia"

7. It doesn't matter if the person found
their way into the markets via a $97 e-
book or through years of training and
experience, they are grouped into the
same category.

8. It also does not matter if person A is
losing money and person B is making
money.
They are both classified as traders.

9. Football player: A football player,
footballer, or soccer player is a
sportsperson who plays one of the
different types of football.

10. If someone asks what I do, if I own a
football and play on the weekends, I
certainly would not say I am a football
player.

11. Saying I was a football player would
suggest I play football for a
living….which I don't….but the
definition fits.

12. The question becomes:
When can you call yourself a trader?
I don't have an exact answer that will
suit you because we are all different
but I think it's an important question
for you to ask yourself.

13. Some ideas that you can ponder:
If you reach a goal that you set for yourself
in terms of consistency.
If you have taken a laser focus approach on
your trading method, trading risk, and
trading psychology.

14. If you are displaying the same
characteristics of certain traders you
admire.

15. If this all sounds like semantics, that's
fine. In the trading world, I think it's
vitally important to be very clear on all
aspects of the business from your
trading method and risk all the way
down to labels.

16. In order to say someone has failed, we
must know what the ultimate goal was
for them.

17. If the goal for someone placing a trade
was to be able to meet all financial
obligations in their life, they fail when
they give up on that quest due to
pitiful results.

18. If the goal was for extra income to
cover a car payment and they meet
that goal, they didn't fail. They
succeeded.

19. Is a blown account a sign of failure?
Any trader that has found success has
probably lost money and no doubt has
had to replenish their account.

20. They didn't fail with a blown account if
they accounted for that occurrence
and had a plan to continue on the road
of experience. Planning on losing
money as you become educated is
rooted in reality.

21. The question becomes:
When can you say you failed?

22. Again, that is up to the individual
however I believe the 95% statistic
comes from brokers where traders are
losing more than they make. Still, I
don't believe you can call them "failed
traders" until the time that they close
up their trading business.

23. It is never a direct line to profits when
you begin placing trades. Many times
during the start you will lose more
than you win.

24. It will be tough.
It will probably take a few
years to gain consistency.
For many, it will be the toughest thing
they have ever attempted.

25. You're are going to lose money at first
and if an equity curve that heads north
is your expectation and a measure of
your success, you are going to be
disappointed.

26. You are going to be frustrated and feel
like a failure. You will fall into all the
traps that finish off accounts such as
revenge trades and too much risk.

27. You need something else that will keep
you fighting for your dream and that is
an absolute passion for trading and
everything that makes up the business.

28. Passion is the only thing you can't buy
when it comes to trading.
It can't be taught.

29. From the analysis to the record
keeping and review, you will want to
approach your trading desk with
passion.

30. One of the reasons there are only so
many professional athletes, high end
surgeons, top business people, and of
course successful traders is they have
an undying and strong passion for
what they do.

31. Ignore the 95% failure rate. It is a
number that can not be quantified.
The only thing that can be..is how you
approach what you do and the results
you get.

32. Everything else is noise.