Why so many people loose money in trading and how to avoid it?
As trader you can’t think short-term. Trading is like a war. You can win one battle in a war, but it doesn’t mean the war is over. It continues. Too often traders are focused on the next trade or making money immidiately, they loose sight of the fact that this is a long-term business.
If more traders would think of this as being a business they would understand that point more clearly. Do you know of any business that tries to make all the money they can in the first week or two? – I don’t.
The success of business comes from endurance and staying power. The difference between great traders and the many that they come and gone is that the great ones are still here because they have a long-range view of their business of trading.
People that just come into this trading game start running out too fast over trading, betting too much on the trades, trading too often, trading too many markets. There is no next month in their world.
I want you to understand simple thing that the massive wealth that has been taken out of the market, was never taken out in a short time. The fortunes were generated by consistent application of effective trading rules.
I get so many people that want to get daily income from trading. When I tell them it’s virtually impossible (some days are good, some days are bad), they most often go on their way looking for someone who will tell them what they want to hear.
I have been following markets for 8 years, I made millions in trading, I have seen a lot of people come and go and a lot of successful tradersand I know for sure the wealth is generated on a consistent basis and it’s long-term process.
Good luck with your trades!