Hi Traders. Have you ever wondered why majority of traders fail in the long-term? If you're still listening to the textbook stuff, you'd probably say that emotion is the devil that fails you as a retail trader. Yes indeed, it is true, but emotion is only part of it that makes you inconsistent in the long-run, there's way more than just the emotion.
1. Perspective: It count be that your current viewpoint is wrong. I believe majority of us will definitely visit the discount section while we're buying the groceries, even if it's only $1 cheaper. But when it comes to stocks investing or trading in general, we all seem to be a bit reckless ain't it? Ask yourself how many times have you entered a position only to realize you're buying at the top OR selling at the bottom due to the lack of emotional control which leads to impulsive trading? Always take a step back and re-assess everything before you click that buy & sell button, successful traders spend 90% of the time thinking and 10% of the time clicking, stay informed and wise. Spend a bit of time to analyze it even if it seems easy to you, believe or not, the simpler a setup appears to be, the easier you'd lose money on that transaction.
2. Accountability: When you buy a stock, you're must take ownership of it, even if you're only buying a share. Let's imagine a company like a puzzle, even if you're only taking a piece out, it'd be incomplete. The moment you decide to buy shares of a company, you are an entrepreneur, act like one of the owners.
3. Experience & knowledge: Trading or investing takes time, be a little bit patient. Have you ever heard of the 90/90/90 rule? "90% of traders blow up 90% of their accounts within 90 days." How can you succeed in trading? Simply stay in the game long enough and do not give up! Risk small, control your emotion, and gain knowledge. The market is your teacher, act like a student. Be confident that someday you will be profitable.
It's never about eliminating your emotions, we're all human we have emotions. The important fact is how you deal with it. Understand yourself, so you could always make adjustment accordingly.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. Perspective: It count be that your current viewpoint is wrong. I believe majority of us will definitely visit the discount section while we're buying the groceries, even if it's only $1 cheaper. But when it comes to stocks investing or trading in general, we all seem to be a bit reckless ain't it? Ask yourself how many times have you entered a position only to realize you're buying at the top OR selling at the bottom due to the lack of emotional control which leads to impulsive trading? Always take a step back and re-assess everything before you click that buy & sell button, successful traders spend 90% of the time thinking and 10% of the time clicking, stay informed and wise. Spend a bit of time to analyze it even if it seems easy to you, believe or not, the simpler a setup appears to be, the easier you'd lose money on that transaction.
2. Accountability: When you buy a stock, you're must take ownership of it, even if you're only buying a share. Let's imagine a company like a puzzle, even if you're only taking a piece out, it'd be incomplete. The moment you decide to buy shares of a company, you are an entrepreneur, act like one of the owners.
3. Experience & knowledge: Trading or investing takes time, be a little bit patient. Have you ever heard of the 90/90/90 rule? "90% of traders blow up 90% of their accounts within 90 days." How can you succeed in trading? Simply stay in the game long enough and do not give up! Risk small, control your emotion, and gain knowledge. The market is your teacher, act like a student. Be confident that someday you will be profitable.
It's never about eliminating your emotions, we're all human we have emotions. The important fact is how you deal with it. Understand yourself, so you could always make adjustment accordingly.
Trade safe.
Do follow my profile for daily fx forecast & educational content.