The Downfall of Most Traders Revealed:
In my opinion, there is only one main reason why the majority of traders fail and it all boils down to Mindset. Unfortunately, humans are hard-wired to be bad traders. So if we do nothing to calm our minds and trade with clarity, then we’re essentially destined to fail. But most people don’t take steps to improve their mindset. They jump straight into the markets focused solely on dollar signs, take on huge risks, refuse to cut their losses, and basically break every trading rule in the book. They might get lucky on a few trades, but eventually their bad habits catch up to them, they end up incurring huge losses, and possibly never recover from it. Worst of all, they attempt to deflect the blame from themselves to the program they subscribed to for their own lack of discipline and refusal to learn.
Meanwhile, they haven’t bothered to even watch one educational video provided with their membership or take the time to develop a structured approach. If you ask many of the traders out there who offer educational programs they’d all tell you that 50-75%+ of their subscribers never take the time to watch their video lessons. And it’s the truth. It’s much like a gym membership. A large percentage of individuals sign up with high hopes of losing weight or improving their fitness, but they never actually go. Blaming the gym for their lack of results would be insane. At a certain point, individuals have to be accountable for their own actions and results. Simply purchasing a particular membership or subscription isn’t enough. Sadly, most hopeful traders don’t want to take the time to actually learn the material, work on improving their skills, and eventually become self-sufficient, consistently profitable traders on their own. They’d much prefer being spoon-fed hot picks, blindly mirroring alerts, and complaining every chance they get. As you may have guessed, this approach to trading simply doesn’t work. For long-term, durable success in the markets, traders must be primarily focused on educating themselves, gaining experience, and developing the proper mindset.