The Main Reasons Traders Fail
I speak to many traders and aspiring traders through out the day. The main reasons traders fail can be categorized into several short statements
1. No trading plan
2. No Patience and want to see immediate positive results
3. Can not accept loses
4. Do not accept uncertainty
5. No consistency
6. No Discipline
Even for the traders that have a defined set of rules or trading plan, they have issues following the plan. They try to out guess it. The reason for this is very simple…They are afraid of losing. They do not accept the uncertainty of a trade.
Most traders ( like the email I just received) look for this magical indicator or if I can share my system with them. To their dismay I tell them they need to focus on a plan that matches their personality. My trading plan is very simple. People are disappointed as they think it must be complicated to work.
Trading success is find a simple strategy that fits your timeframe and personality. Test it…believe in it…and JUST DO IT!!!!
Over and over again…this is why I mentor and teach. This message is so simple yet so many can not comprehend it….
If I can assist you in your trading please email me….