Trading is a profession where even if you are having 10 years of experience but still you might be losing money. So what are the qualities of loss making traders, If you are having any of them, Beware !! Get your act together and get rid of these bad habits.
- Loss Making Trader do not understand what all the fuss is about risk management and trader psychology they do not need all that they are special.
- Loss Making Trader believe there is some magic trading method that always wins, they search for the Holy Grail of trading.
- Loss Making Trader do not understand that the very best traders have strings of losses , losing months, and sometimes even losing years. They think rich traders always win.
- Loss Making Trader want to know what is going up or down, they focus on tips instead of the mechanics of trading.
- Loss Making Trader hand out advice freely to others, good traders realize that decisions are based on individual methods and do not give out tips.
- Loss Making Trader are looking for that one big winning trade to go all in on, good traders are trading good systems that they risk 1% per trade on.
- Loss Making Trader confuse bull markets for skill.
- Loss Making Trader confuse luck for skill.
- Loss Making Trader want advice, good traders want robust systems.
- Loss Making Trader run from method to method and from mentor to mentor after every losing streak, good traders know exactly who they are and what methods they trade.
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