HI Friend
why traders loose a lot and don,t gain a bit?
Ready to look in a different perspective?
There are two problems-
Trader problem and Trading system problem.
-------------------------------------------------------------------
Mostly it is trader problem.
-----------------------------------------------------------------
If trader has bad trading habits,is emotional,has never been mentored or trained,if he is a compulsive gambler type,then he needs help.
(Each bad trading habits may take 3 weeks of practice to reverse it. what bad habit? not assessing risk,not using stoploss properly,not trying for better entry,taking very first chance & later regretting hasty actions,using a new untested strategy in hurry)
he needs to stop trading and find a mentor.
You cant perform heart surgery without first getting trained by a expert-professor-surgeon.
most loosing traders had this mindset
they think trading education an getting mentored is a burden and they can avoid it safely.
By not getting education-mentoring,if he saved rs 20000, he sure bound to loose rs 10 laks in trading losses.
Loosing traders insist that education is an unnecessary expense.
I met a mentor with my friend as my friend wanted to get mentored.
My friend started asking discount concession reduction in fees and increase in the input from mentor in terms of mentor training man hours etc.
My friend is good at bargaining and he mostly gets good bargains.
But here I am sorry to say his bargaining skill screwed him up badly.
What happened was the mentor smiled & gave him a visiting card of another
new trainer-coach and told-"you can get all you want with this person."
we left.
It was after 60 days my buddy found out he joined a novice mentor for a cheap fees. Time lost-nothing gained.
Quality is never cheap.
Find a mentor,interact with him-decide if you want his help or not.
fees is not first thing.
--------------------------------------------------------
Trading system problem
------------------------------------------------------
Most trading systems have no long term winning edge.
If you trade it over 100 trades it ends up with 40% loss.
The question comes
who asked you to adopt this system?
You saw super curved trend and started using it immediately? Or the acd curve straight king system impressed you so much?
A buddy of mine bought 99% succesful system called tdf something and it failed only to kick him on face.
Most systems on internet suffer from not really suiting your mindset or not set to work for the traded instrument.
there is some amount of work to be done before adopting it.
Why did you not take time to check its expectancy is positive or negative?
Does the system have inbuilt risk control mechanism?
you decided on your own.you did a random thing on your own impulse & and now blame the market,manipulation and xyz.
Never heard of money management basics?
Yes-that is cost of avoiding education & training to save some bucks.
A thumb rule is trading should be done on a sound basis of logic,supporting evidence-weight of evidence or voting.
Gambling needs no weight of evidence or no system.
One big question I ask of all traders who read this post.
Can you face a string of a row of 10 losses in a row?
This is not imagination-it is reality.
If the answer is A NO, BETTER STOP TRADING FIRST & FIGURE OUT THE ANSWER FIRST.