Trading is Difficult as most traders don’t have an “EDGE”.
Is Trading Hard to Learn ?
It takes time, discipline, the correct education and the right attitude. Most people fail in trading not because it is particularly hard, but because they are not properly “EDUCATED“. Learning to trade is investing in your education and your financial future. Learning to trade is investing in yourself.
Trading is hard because sometimes the next 10, 20, 50 or even 100 trades might not net you any money even if you execute your trading perfectly, even with perfect emotional control, you still might not have a profit to show after 50+ trades.
At the end of the day you have total control of when to enter, but it is the market that decides if that entry will be profitable or not. Sometimes the next 50+ trades will print money at other times you will be lucky to break even.
As a trader you sometimes live on the extreme negative end of the bell curve for protracted periods of time. And there is nothing you can do about it expect maybe trade smaller.
These following four steps will show you how to do so.
Below are Few Steps New and Loss Making Traders can work on.
It’s of critical importance that you practice what it is that you want to master.
Reading books,Attending Workshops and learning new strategy on YouTube theories might eventually make you an expert in theory on anything trading related. But understand, this doesn’t say anything about your ability to actually trade.
To get good at trading, you have to practice trading. There is no substitute.
Instead of chasing winning trades and averting losing trades you have to develop a capacity to focus on a proven process that will lead to a specific goal. My Guru told me Never Focus on Money,Over a Period of time it will become immaterial whether you make or Lose money, What you need to focus on is PROCESS or Daily Ritual which you need to follow day in day out.
So in that sense, the short-term fluctuations don’t really matter. They contain a lot of noise. If you learn to let go and trust the process, you’ll be surprised by how well your long-term results might end up shaping.
It doesn’t matter how long you’ve been trading; how much of an expert you are, at times trading will be Stressful—it’s in the job description.
This is where cultivating a sense of perspective will come in handy, while knowing that you are right where you need to be and doing the best you can with the knowledge you have.
So that you can cultivate a form of well-being that isn’t dependent upon the ups and downs in your Profit and Loss. If you approach the markets in unconventional ways, eventually you’ll get unconventional results.