FRUSTRATION: “Your success as a trader at times hinges on your ability to conquer frustration. Frustration will always appear on the path toward greatness. Some will triumph over it, while others succumb to its pettiness. When you encounter obstacles on your trail toward achievement, remind yourself that they were placed there in order for you… Read More »
In Continuation with Previous Post 5. Trading On Emotions This is a weakness faced by most traders, not only new market entrants. The fear of losing money makes it hard for most new traders to make risks. Greed gives rise to many poor decisions that result in a depleted trading account. Trading on emotions is… Read More »
Truth be told, when you are new at something it is very easy to make mistakes. Unfortunately, in the Stock market you will find that almost all new traders make the same mistakes over and over again. To have a steeper learning curve and gain more from your trades, you need to identify the common… Read More »
Most people who get into trading seem to be attracted by the lure of making big money and making it fast . . . or so it would seem by the pitches and promotions from vendors that offer services or products that promise to deliver what traders are seeking. Greed is a great motivation for… Read More »
Whether we admit it or not, many of us are lured into the world of trading because of the potential to make big money. There are instances when traders are just in it to win it, leaving them less focused on the process and solely on the profits. During these times, trading can have the potential… Read More »
As 2014 come to an end, it’s an important time for a trader; it’s time for you to make an honest assessment of your trading performance over the last year. This is an excellent opportunity for you to learn and grow, both as a trader and a person. Seriously, whether you’ve had a bad trading… Read More »
The lack of a proper trading plan which includes precise rules for entering and exiting a trade will most certainly guarantee failure over the long term. Beginners usually suffer from the same common ailments. They abandon trading plans purely on impulse because things are not going exactly as how they had envisioned. Repeatedly they use… Read More »
Recently, a couple people I know packed up and quit trading after struggling for a long time to hold their heads above water. They didn’t make it. This isn’t unusual of course – this profession has a high failure rate – but it frustrated me. It frustrated me because I could see potential in them.… Read More »
You Might be a Bad Trader if: You are 100% sure about a trade being a winner so you have no need to manage risk. You go all in on one trade and it will make you are break you. You like to buy deep out of the money stock options not understanding how… Read More »
In trading most new traders allow hope and fear to dictate their trading. They have a losing trade and instead of selling it and getting out they instead hope it will come back to even allowing the loss to grow. Another error for new traders is that when they have a winning trade they fear… Read More »