Topic: 95% OF YOU Will Fail Trading: Learn how to overcome this stat - page 4. (Read 663 times)
Discipline to follow trading plan, avoid greedy and unpatient is others more important thing in trading. 95% trader failed because they have bad psychology in trading so we should be learn how to manage it. And for knowledge about technical analysis is only second thing in trading.
The grim thing to hear, I know but it's how the markets work. You cannot all win. But the ones that do, guess how? They take all the money from the people who constantly lose money within the markets.
So how do you overcome the fear of failure and go against the statistics? It's like anything when you consider success only so many people walk through it all and get to the other side and are actually considered to be a success; movie stars, sportsmen and women and so on. It is no different from trading.
A quick cheat list to help you
- YOU must understand the importance of RISK MANAGEMENT
- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.
- LEARN as much as you can and practice without any capital.
- Understand the concept and process of compounding and why it is so important.
- Only trade yourself and DO NOT use auto trading bots led by a company
- Use 3% of your entire balance
- Make sure you have a trading plan and follow it each time
- Look for the formula and not the feelings.
[/list]
I've helped a lot of people in the past get over the trading hurdle. The problem is, everyone wants to be as good as the rich guy. Sometimes you got to get years and years of experience under your belt to get very good and get very profitable.
So how do you overcome the fear of failure and go against the statistics? It's like anything when you consider success only so many people walk through it all and get to the other side and are actually considered to be a success; movie stars, sportsmen and women and so on. It is no different from trading.
A quick cheat list to help you
- YOU must understand the importance of RISK MANAGEMENT
- YOU need to know elements of technical analysis
- YOU are also required to understand fundamental analysis
- Create a journal and record all of your trades.
- LEARN as much as you can and practice without any capital.
- Understand the concept and process of compounding and why it is so important.
- Only trade yourself and DO NOT use auto trading bots led by a company
- Use 3% of your entire balance
- Make sure you have a trading plan and follow it each time
- Look for the formula and not the feelings.
[/list]
I've helped a lot of people in the past get over the trading hurdle. The problem is, everyone wants to be as good as the rich guy. Sometimes you got to get years and years of experience under your belt to get very good and get very profitable.
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