3 MAJOR REASONS WHY YOU ARE LOSING IN TRADING

[benkal]

1. POOR RISK MANAGEMENT- AS LONG AS YOU IGNORE THIS PRACTICE OF RISKING 1% OF YOUR ACCOUNT BALANCE BECAUSE PROFESSIONAL TRADERS KNOW THAT TRADING IS ALL ABOUT PROBABILITIES, YOU WILL ALWAYS BLOW YOUR ACCOUNT AND WILL ALWAYS BE KING OF DEPOSIT. START TO PRACTICE PROPER RISK MANAGEMENT NOW!

2. GET RICH QUICK MENTALITY- THINK LONG TERM AND TREAT TRADING AS A BUSINESS, GROWTH WILL BE SLOW AT FIRST BUT AS YOUR CAPITAL GROWS SO WILL THE PROFITS, ROME WASNT BUILT IN ONE DAY! TRYING TO GET RICH OVERNIGHT IS RECIPE FOR GUARANTEED FAILURE.

3. NO TRADING PLAN- YOU ARE JUST GAMBLING, GOING LONG OR SHORT AND HOPING, PRAYING IT GOES IN YOUR FAVOUR IS WHAT MOST PEOPLE ARE ACTUALLY BLINDLY DOING PROVIDED THEY DONT HAVE A WRITTEN PLAN THEY ARE FOLLOWING, SO IF WANT TO BE A STEP CLOSER TO JOIN THE WINNING SIDE START BY LAYING OUT A TRADING PLAN WHICH YOU WILL FOLLOW WITH DISCIPLINE NO MATTER WHAT SO AS TO INTRODUCE CONSISNTENCY BECAUSE ITS WHAT MAKES US WIN

 

[mlawson71]

I would add revenge trading to that list. It's shocking how many people do that and how often it leads to losses.

 

[johnw]

Overtrading is also one of the factor. I've seen people trade 10-20 stocks a day, you should trade 1-2 a day quality stocks

 

[benkal]

Overtrading is also one of the factor. I've seen people trade 10-20 stocks a day, you should trade 1-2 a day quality stocks

exactly, quality trade setups over quantity cos you dont need to be in many trades to make money!

 

[benkal]

Overtrading is also one of the factor. I've seen people trade 10-20 stocks a day, you should trade 1-2 a day quality stocks

"The truth is knowing when to stay out the market is just as important. Protect your capital rather than forcing yourself to constantly be in the markets and take trades that don’t fit your plan." - Mark Hutchinson

 

[mlawson71]

Overtrading is also one of the factor. I've seen people trade 10-20 stocks a day, you should trade 1-2 a day quality stocks

Were those people in any way successful?
I , personally, can't imagine keeping track of that many trades in one day.

 

[benkal]

Were those people in any way successful?
I , personally, can't imagine keeping track of that many trades in one day.

YOU CAN IF YOU ONLY TAKE QUALITY TRADES, AND AGAIN IT COMES DOWN TO WHAT TYPE OF TRADER ARE YOU, A SCALPER, POSITION TRADER, SWING TRADER, ND SO FORTH.
AS FOR ME I KEEP A WATCHLIST OF 6 MAXIMUM CURRENCY PAIRS SO AS TO AVOID HAVING TO ANALYSE A LOT OF PAIRS AND TO AVOID MISSING OUT ON TRADING OPPORTUNITIES COS I WAS TOO BUSY GOING THRU A LONG LIST OF PAIRS. SOMETIMES YOU DONT NEED TO BE IN MANY TRADES TO MAKE MONEY. 2-3 TRADES PER WEEK IS GOOD ENOUGH FOR ME AND 10-12 TRADES IS ALSO IDEAL COS THRU PRICE ACTION ITS POSSIBLE TO GET SUCH RESULTS AS SOME TRADES HAVE A RISK:REWARD OF 1:3 MINIMUM AND ALSO SCALING IN PLAYS AN IMPORTANT ROLE

 

[gjisef]

I think over trading is indeed an important reason.

 

[benkal]

I think over trading is indeed an important reason.

yah, cos some people have this need to be in the market all the time which isn't the case. you need to know when to stay way from the market also

 

[juniorrr]

The real problem is to follow these tips when you are in a real situation.

 

[benkal]

The real problem is to follow these tips when you are in a real situation.

Yah I get you but if you don't learn to remain disciplined you will always be in the same situation, no change same results all the time. This tips can be learned through practice, practice and practice. Trading psychology is a must topic to address

 

[addew75]

1. POOR RISK MANAGEMENT- AS LONG AS YOU IGNORE THIS PRACTICE OF RISKING 1% OF YOUR ACCOUNT BALANCE BECAUSE PROFESSIONAL TRADERS KNOW THAT TRADING IS ALL ABOUT PROBABILITIES, YOU WILL ALWAYS BLOW YOUR ACCOUNT AND WILL ALWAYS BE KING OF DEPOSIT. START TO PRACTICE PROPER RISK MANAGEMENT NOW!

2. GET RICH QUICK MENTALITY- THINK LONG TERM AND TREAT TRADING AS A BUSINESS, GROWTH WILL BE SLOW AT FIRST BUT AS YOUR CAPITAL GROWS SO WILL THE PROFITS, ROME WASNT BUILT IN ONE DAY! TRYING TO GET RICH OVERNIGHT IS RECIPE FOR GUARANTEED FAILURE.

3. NO TRADING PLAN- YOU ARE JUST GAMBLING, GOING LONG OR SHORT AND HOPING, PRAYING IT GOES IN YOUR FAVOUR IS WHAT MOST PEOPLE ARE ACTUALLY BLINDLY DOING PROVIDED THEY DONT HAVE A WRITTEN PLAN THEY ARE FOLLOWING, SO IF WANT TO BE A STEP CLOSER TO JOIN THE WINNING SIDE START BY LAYING OUT A TRADING PLAN WHICH YOU WILL FOLLOW WITH DISCIPLINE NO MATTER WHAT SO AS TO INTRODUCE CONSISNTENCY BECAUSE ITS WHAT MAKES US WIN

psychology is one important factor in trading. patience and consistency is the key to success in trading

 

[samimmortal64]

1. POOR RISK MANAGEMENT- AS LONG AS YOU IGNORE THIS PRACTICE OF RISKING 1% OF YOUR ACCOUNT BALANCE BECAUSE PROFESSIONAL TRADERS KNOW THAT TRADING IS ALL ABOUT PROBABILITIES, YOU WILL ALWAYS BLOW YOUR ACCOUNT AND WILL ALWAYS BE KING OF DEPOSIT. START TO PRACTICE PROPER RISK MANAGEMENT NOW!

2. GET RICH QUICK MENTALITY- THINK LONG TERM AND TREAT TRADING AS A BUSINESS, GROWTH WILL BE SLOW AT FIRST BUT AS YOUR CAPITAL GROWS SO WILL THE PROFITS, ROME WASNT BUILT IN ONE DAY! TRYING TO GET RICH OVERNIGHT IS RECIPE FOR GUARANTEED FAILURE.

3. NO TRADING PLAN- YOU ARE JUST GAMBLING, GOING LONG OR SHORT AND HOPING, PRAYING IT GOES IN YOUR FAVOUR IS WHAT MOST PEOPLE ARE ACTUALLY BLINDLY DOING PROVIDED THEY DONT HAVE A WRITTEN PLAN THEY ARE FOLLOWING, SO IF WANT TO BE A STEP CLOSER TO JOIN THE WINNING SIDE START BY LAYING OUT A TRADING PLAN WHICH YOU WILL FOLLOW WITH DISCIPLINE NO MATTER WHAT SO AS TO INTRODUCE CONSISNTENCY BECAUSE ITS WHAT MAKES US WIN

Well said. I would also like to add investment into knowledge rather than blind faith in indicators... A combination of prices action, candle patterns, trend lines, supply & demand areas, support and resistance, pivots, time management, money management, risk management...etc... should be used together with indicators

 

[binjaleel]

1. POOR RISK MANAGEMENT- AS LONG AS YOU IGNORE THIS PRACTICE OF RISKING 1% OF YOUR ACCOUNT BALANCE BECAUSE PROFESSIONAL TRADERS KNOW THAT TRADING IS ALL ABOUT PROBABILITIES, YOU WILL ALWAYS BLOW YOUR ACCOUNT AND WILL ALWAYS BE KING OF DEPOSIT. START TO PRACTICE PROPER RISK MANAGEMENT NOW!

2. GET RICH QUICK MENTALITY- THINK LONG TERM AND TREAT TRADING AS A BUSINESS, GROWTH WILL BE SLOW AT FIRST BUT AS YOUR CAPITAL GROWS SO WILL THE PROFITS, ROME WASNT BUILT IN ONE DAY! TRYING TO GET RICH OVERNIGHT IS RECIPE FOR GUARANTEED FAILURE.

3. NO TRADING PLAN- YOU ARE JUST GAMBLING, GOING LONG OR SHORT AND HOPING, PRAYING IT GOES IN YOUR FAVOUR IS WHAT MOST PEOPLE ARE ACTUALLY BLINDLY DOING PROVIDED THEY DONT HAVE A WRITTEN PLAN THEY ARE FOLLOWING, SO IF WANT TO BE A STEP CLOSER TO JOIN THE WINNING SIDE START BY LAYING OUT A TRADING PLAN WHICH YOU WILL FOLLOW WITH DISCIPLINE NO MATTER WHAT SO AS TO INTRODUCE CONSISNTENCY BECAUSE ITS WHAT MAKES US WIN

Overtrading is by far the main reason why people lose

 

[Thoko21]

Nothing But The Truth Preach Brother Do More OF This TO Give More Awereness

 

[gu00hero]

Not looking for confirmations and diving into trades right away was my main problem.

 

[benkal]

Not looking for confirmations and diving into trades right away was my main problem.

well to make up for such mistake, learn to follow your trading plan with discipline, enter only when rules of entry are met according to your strategy otherwise NO TRADE!

 

[Daantje Pieters]

Yes, you are right, the words you have mentioned are very important. And if these things are not maintained in trading, it is very difficult to make a profit. So I always suggest to every trader that they work to maintain discipline. If you do not maintain discipline, there can be many problems. The chances of loss are high.

 

[benkal]

Yes, you are right, the words you have mentioned are very important. And if these things are not maintained in trading, it is very difficult to make a profit. So I always suggest to every trader that they work to maintain discipline. If you do not maintain discipline, there can be many problems. The chances of loss are high.

well said

 

[mlawson71]

True. If one trades randomly, on a whim, they may as well be gambling. And they will lose money.