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Originally posted by TheSundanceKid I did not say trading is very hard intellectually - I just said that trading is not easy (intellectually).
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I think the combination of that nicety, the double negative, the fact that I am using my third language and my desire to raise a smile all conspired to get the better of me. Please excuse me if my comment was inappropriate. It is a rather idiosyncratic point of view but for most of the time that I have been learning to trade and trading (and I am still learning now, of course) I have been doing an MBA and a PhD, so I cannot avoid finding it slightly amusing if people express the view that trading is "intellectually difficult".
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Originally posted by TheSundanceKid So Jana, since you seem to be the authority on trading ...
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You misunderstand me, Sir. I am an authority only on shoe shopping. Regarding trading, I can offer only my own experiences and impressions.
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Originally posted by TheSundanceKid please enlighten us on what you think is the reason why 90%+ of traders fail? 
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IMHO (if indeed it is true) it's because most of them actually lack a system which really works, but often don't realise this, blaming instead a combination of "psychological factors", bad luck and a huge variety of other reasons, repeating their mistakes and risking real money trading "systems" which have no sound, long-term, statistically-proved basis in reality.