Why 95% of Traders fail in trading?
Why 95% of Traders fail in trading? Even the most successful in other fields end up losing money when it comes to trading. Do you know why?
Let’s discuss the reasons and how to avoid this in detail in the 2nd episode of our new series – “how to become a successful trader”
• Would you dare catching an alive snake without training?
• Would you dare to fly a jet without mastering how to fly and land it?
• Would you assist a doctor in surgery without you getting an MBBS?
• Would you climb a mountain without training?
• Would you join a bomb disposal squad without mastering how to diffuse a bomb?
But when it comes to trading, we put even our last rupee in trade without learning HOW TO TRADE.
This is the reason 95% traders don’t earn money, because they don’t LEARN before they try to earn.
Trading without training is
• like catching an alive snake without proper training
• like taking off in a jet not knowing how to land
• like performing a surgery without any experience
• like climbing a mountain without a safety rope
• like diffusing a bomb without proper safety gear!
How many of us in our trading career done all this without confidence? I definitely have.
Every day I see traders being
• bitten by the snake
• crash landing or ejecting from the jet
• leaving the patient to die on the operation table
• falling of the mountain cliff
• cutting the wrong wire of the bomb!!!
It took us 1 year to speak our first word, 2 years to take our first step, 16 years of formal education to earn our first salary. BUT, we don’t want to spend even 6 months to LEARN trading.
What is the end result?
80% traders blow their trading accounts and move out of the market in less than 6 months.
Lack of Common sense is the most uncommon thing found in traders. Never trade if you don’t know answer of these questions.
1. Why I am entering this trade? (the system/method/training needed to take a trade)
2. What I would earn out of this trade and by when? (the outcome or expectation)
3. What I am going to do if my trade does not work as expected? (the safety rope/gear)