Why Beginners In Trading Loose Money

Why Beginners In Traders Lose Money

Ever wondered why forex and crypto traders easily lose money and disappear faster than a magician’s rabbit?

If you’re making a comeback or just starting out, get ready for a laugh-out-loud tour of the silly slip-ups that make traders look like total goofballs.

Get your popcorn ready, because it’s time for some Forex and Crypto Flops!

Pip-Puns Confusion:

Imagine a trader staring at their screen, looking as confused as a cat in a dog parade.

They’re more interested in cracking jokes than cracking profits.

Newsflash:

It’s pips that bring in the bucks, not punchlines!

The Indicator Extravaganza:

Step right up and witness the spectacle of traders collecting more indicators than a squirrel hoards nuts for winter.

They’re so tangled up in lines and colors, they look like they’re auditioning for a modern art masterpiece.

Spoiler alert:

The only masterpiece is the mess they’ve created!

Impulse Buying on Steroids:

Some traders act faster than a squirrel on espresso, jumping into trades like they’re chasing a runaway ice cream truck.

It’s like a chaotic dance party, but the trader’s the one stumbling over their own feet.

Hey there, speedy Gonzalez, it’s forex – not a race track!

Confident Cowboys and Cowgirls:

Yeehaw! Watch as overconfident traders swagger into the forex saloon, acting like they’re the new sheriff in town.

They shoot first, ask questions never, and end up with an account as empty as a ghost town on a Sunday morning.

Note to self:

It’s called risk management, not a rodeo show!

Risk Management Memory Lapse:

Ever seen someone juggling flaming torches while blindfolded?

Meet the forex trader who forgets about risk management.

They go big or go home, trading sizes growing faster than a kid on a growth spurt.

Quick lesson:

Risk management isn’t a side dish – it’s the whole dang buffet!

Shiny Object Obsession:

Picture a crow collecting every shiny thing it finds.

That’s the trader chasing after every “surefire” strategy like it’s the last chocolate bar on Earth.

It’s like a comedy routine, with each new strategy getting a round of applause, until the trader realizes they’re the punchline.

Forex trading is a mix of comedy and drama, where laughs and lessons go hand in hand.

Whether you’re a trading comeback kid or a fresh-faced newbie, remember that forex is like baking a cake – it needs ingredients like knowledge, patience, and a sprinkle of humility.

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Before you hit the trading floor, take a moment to think about these hilarious blunders.

Trading might be serious business, but that doesn’t mean you can’t have a good chuckle while you’re at it.

Here’s to avoiding the laughs and learning from the mistakes on your way to forex fame and fortune.

Happy trading, and may your pips be plentiful and your laughter contagious!

Peace.

This is where all good habits need to persist long enough to break through that plateau.

If you journal everyday you might not feel its effects and benefits.

However, if you keep at it, you will reach the plateau of latent potential.

This is where you reap alot of benefits in proportion to the effort put in.

Soon enough after hitting the PLATEAU OF LATENT POTENTIAL,

You will find,

-Increased confidence in your system.

-More ways to tweak your system for optimal performance.

-More discipline will emerge because you don’t want to enter the wrong trades.

So persist in your good TRADING HABITS until you reach the,

PLATEAU OF LATENT POTENTIAL.

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The only profitable trading strategy is to know the direction/trend of the market and to avoid trading against the trend

Most importantly patience is the key, don’t chase a trend wait for pullbacks and place trades at the end of a pullback

It’s better to miss a trade than to loose a trade

Never chase the market.

Positive Compounding Exists.

When you keep on improving your life just by a small but bit everyday.

It eventually translates into more profits.

Essentially, More Discipline = More Profits.

Negative Compounding Also exists.

When you keep talking to yourself negatively after each loss it also compounds.

This is why this business is so hard because it requires you to treat yourself professionally even when you are performing at your worst.

When you learn how to trade consistently the worse thing you can do is make it public.

You never will be believed & you will grow addicted to punishing the doubters.

Be content with being a “Gray Man or Woman”.

The one who quietly kills it.

1. Don’t close trades unless they hit TP or SL.

This helps avoid GREED and FEAR in trading.

2. Trade ONE pattern only and only trade the markets when that particular pattern appears.

3. Do NOT change strategies every now and then. This delays progress.

Rather find a strategy that works and tweak it as you go.

4. Avoid being in multiple forex groups in the beginning, this will only confuse you.

5. The higher timeframe will always be king.

6. A complicated strategy doesn’t mean a profitable strategy. Simplicity is key.

7. Document your trades.

Understand and analyse why you lost or won a trade so you can use that information in the future.

And when you make some money always remember to keep some offline.

That is the surest way to keep your crypto and forex profits safe.

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Follow all these points and you sure won’t loose money as a beginner in trading.