Normal
Unfortunately it's true. Most of those that think they're winners don't even know that they're net losers because they don't keep records and they don't track trading related expenses, including brokerage. Their pain avoidance mechanism means that they only remember the winning trades.Contemplate a friend of mine who discovered CFDs about 2 years ago. Last year he made 350 round trip trades. For a bloke who probably has less than 10k in his account his annual brokerage fees ($7k AUD) are going to be an awfully big expense column to trade his way into profit with. He's currently "on the sidelines", shell-shocked.A large proportion of the 97% (arbitrary figure, I know) do it for something to do, something to look forward to, and something to talk about. Most people pay for their hobbies, for most this one is no different, they just don't realise it.
Unfortunately it's true. Most of those that think they're winners don't even know that they're net losers because they don't keep records and they don't track trading related expenses, including brokerage. Their pain avoidance mechanism means that they only remember the winning trades.
Contemplate a friend of mine who discovered CFDs about 2 years ago. Last year he made 350 round trip trades. For a bloke who probably has less than 10k in his account his annual brokerage fees ($7k AUD) are going to be an awfully big expense column to trade his way into profit with. He's currently "on the sidelines", shell-shocked.
A large proportion of the 97% (arbitrary figure, I know) do it for something to do, something to look forward to, and something to talk about. Most people pay for their hobbies, for most this one is no different, they just don't realise it.
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