There are may obstacles present in trading as a beginner. In this article we will discuss Top 5 obstacles to Profitable Trading.
Your Ego wants you to PROVE you’re right. It wants you to trade big. It wants you to be confident in your trading ability before you’ve gained the necessary knowledge and experience.
You’re afraid to take your entry when it’s triggered, and you’re afraid to let a winner run because you’re afraid it’ll turn into a loser. Fear stems from a lack of faith, and a lack of faith stems from a lack of proper research prior to trading.
It causes you to trade too big and too often. It makes you want to put everything on the line in order to get rich quick. Greed frequently leads to high-risk, high-reward trades. Greed wants to take the easy way out, but you must take the long way to get to where you really want to go. To achieve success, you must put in the necessary effort and gain valuable experience.
NO TRADING PLAN:
If you don’t have a map, you’ll end up somewhere else no matter where you want to go. Every trade should be planned when the market is closed and then executed when the market is open, reacting to prices. Long-term results are nearly impossible to achieve without a plan.
No trading system will work for you unless you put in the effort to create a trading plan that fits your needs, develop and maintain discipline, manage your risk, and stick to the plan regardless of how you feel.
We should tackle these obstacles to Profitable Trading very care fully specially if you are beginner.