How often have you heard analysts refer to a down day on Wall
Street as “traders taking profits”? Sounds great, but
the sobering fact is that most traders — in futures, commodities,
or forex — lose money.Any book on trading will list for you the many reasons
why most traders lose. Yet some traders do win; some even
set records. In 1984, Elliott Wave International’s founder
and president Robert Prechter won the U.S. Trading Championship,
setting a new all-time profit record of 444.4% in a monitored
real-money options account. Later in his monthly Elliott
Wave Theorist, Prechter published a Special Report “What
A Trader Really Needs To Be Successful” with 5 important
insights for would-be market speculators (including the explanation
of why “market manipulation” is not why
most traders lose.)
This article was syndicated by Elliott Wave International and was originally published under the headline “Market Manipulation” Is Not Why Most Traders Lose.
EWI is the world’s largest market forecasting firm. Its staff
of full-time analysts led by Chartered Market Technician
Robert Prechter provides 24-hour-a-day market analysis to
institutional and private investors around the world.
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