Why do people fail in trade?
Why do people fail in trade?
A lot of traders who fail in this field, because they do not have patience and consistency in learning, that they are successful traders who study for more than a year or even two years so that they can have the ability to analyze the market and can have their own methods in making profits from trading.
Many who have just learned one month to one semester they give up and no longer want to trade, please note that naturally fruitful trees are trees that grow with a long period of time so that they can bear heavy fruit and can provide benefits for both the owner or others.
Don’t give up quickly in trading, there are many mistakes that you have to take lessons from, walk slowly and with principles in trading with risk management that you can control and not overdo it so that you can take advantage for yourself.
Focus, be consistent, learn from your mistakes and think that building an empire takes time.
What are your additions to understanding the learning time for someone who is learning to trade? I think sharing here will benefit those who may be close to giving up in this field.
You can learn about trading one or two years or just start after knowing the basics but success depends on many factors and importantly their decision making abilities at the current market conditions. This modern era people think that trading is easy way to become rich but it’s not, trading is highly unpredictable event so you have high risk hanging around your capital all the time. It will just take one bad day to eat the profits you made in one month.
Trading will get better with real life experience and one who has other revenue sources can excel in trading than one who do trading as their only job.
Traders that are losing are far more than the traders that are making money from trading.
The best way to trade is to begin with appropriate plan for money management. I am still resting since this year began, I did used just 5% for trading from my weekly income.
Trading can disappoint you but you will not disappoint yourself by not spending the amount of money that you can not afford to lose.
Risks management is very important in trading. Followed by having technical strategies to win than lose and learn about indicators.
Most of the users who attempt to try trading I think have the goal in mind to learn it quickly with a crash course and hope to make a living with it.
In my case, I tried to learn quickly because there was a need for money, and wanted an immediate answer. I did lose more during my first few months maybe up to 6 months, I was just at the right time because I came to crypto just when the bull market was starting. If it weren’t for it, I wouldn’t have the capital to keep trying.
But eventually, I learned to only trade when the market is bullish.