Why do so many traders fail?

It is a commonly known broker statistic – 90% of traders fail within 6-12 months… Why?

standout-trader Very few traders keep any type of a trading journal, let alone one designed to track and analyze their progress. 

Do you think this has anything to do with the high trading failure rate?

… are you a standout trader?

Dr. Alexander Elder, author of Trading for a Living has this to say about good Record-Keeping 

“If you do not have good records, how can you measure your performance, rate your progress, and learn from your mistakes? Those who do not learn from the past are doomed to repeat it.”

Click to view email sent to TJS from Dr. Elder in 2009

Brett N. Steenbarger, Ph.D., author of Enhancing Trader Performance has this to say about Journals

“The Journal is a business plan. The right plan, executed faithfully, can be the difference between success and failure in any endeavor.”

trading-success-failure Keeping a trading journal and tracking your progress is an essential element to the success of your trading business. The time spent on your TJS spreadsheet will be rewarding as you watch your progress unfold right in front of your eyes.

“You can never know where you’re going unless you know where you’ve been”