Here Are Top 7 Reasons Why New Traders Loss
- Some traders couldn’t handle the money they lost the money while trading. Others didn’t manage their risk and lost a lot of money. They had to stop trading because they couldn’t afford to keep going. Even though they lost a lot of money, they could not get back into trading after the damage was done.
- There was an overwhelming desire for them to be right all the time, and they couldn’t stand being wrong. Traders don’t care about being right personally, but rather about being on the right side of market prices.
- Because they were new traders, they thought they were smarter than the market and everyone else. It showed them how irrational and counterintuitive it can be to think that the market is always right.
- Were they not careful? They did not do their research before they began trading money. There was no time for them to learn, and they were doomed from the start. In order to become a good trader, you need to read a lot of trading books, look at charts, study legendary traders and risk, understand trader psychology and how to test your systems, and so on. A new trader finds it hard to even find out what they don’t know and where to start.
- As long as you enjoy trading and the markets, you might be able to make it. You might not give up when you see how much work there is ahead, so you might not quit. There are a lot of professional traders out there who make a lot of money, and if you only want to make money for the money, you’re going to have a bad time. A love for trading is what you need to get you over the learning curve and to making money in the long run.
- When a new trader starts, they need to figure out what the right questions are. Then they need to go and look for the right answers in the right places.
- Many new traders come from other jobs and can’t get back to the beginner’s mind they need to learn a new skill. They want to be experts right away, but that takes a long time and a lot of study and real-time success.
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