moonchild
VIP Contributor
I don't actually follow rules, I think they're retarded and you shouldn't also, but Pareto principle is actually not a rule, like those bunch of laws in Chemistry, this is a principle, like gravity, whether you believe in it or not it still prevails.
So, the 80/20 rule states that 80% traders traders lose out their money to 20% traders in the foreign exchange market.
To a point I tend to agree with this rule, because every year there's a new set of traders that grace the trading floor with myriad dreams of making money and living fastlane, but like air they fizzle are out and never to be seen again.
To be part of the 20% in Forex Trading is just about being patient and sitting on your hands till an opportunity present itself and then you attack it, that's why I tell people that trading is actually boring the moment you find an edge because all you have to do is to repeat the same things over and over again.
So, keep on learning and testing out new strategies till you find your edge and then stick to it and then learn the art of patient, which is waiting for opportunity to present itself.
So, the 80/20 rule states that 80% traders traders lose out their money to 20% traders in the foreign exchange market.
To a point I tend to agree with this rule, because every year there's a new set of traders that grace the trading floor with myriad dreams of making money and living fastlane, but like air they fizzle are out and never to be seen again.
To be part of the 20% in Forex Trading is just about being patient and sitting on your hands till an opportunity present itself and then you attack it, that's why I tell people that trading is actually boring the moment you find an edge because all you have to do is to repeat the same things over and over again.
So, keep on learning and testing out new strategies till you find your edge and then stick to it and then learn the art of patient, which is waiting for opportunity to present itself.