Quote from: milandres0207 on Today at 03:44:44 AM

Quote from: Gafman on April 21, 2020, 09:49:26 PM

I have been reading a lot of articles on the forum and i have to say a lot of people are already giving up on trading due to some minor/major setbacks.

I write this article today to explain a few reasons why I think people are not really comfortable with the trading environment.
1. Lack Of Proper Trading Education
A wise man once said, " Lack of education causes lack of progress which in turn causes lack of motivation". Most new traders have a common believe that the trading market is a Fast Money Producing market which is very wrong. Instead of learning the basics of trading and develop a reliable trading skill they settle for Signal groups or end up investing in a scam so-called (money multiplier groups).

2. No Risk Management
I am a victim of "No Risk Management". In my earlier days of trading, i always try to maximize profits neglecting the probability of the loss if a trading day/week doesn't go my way. The market is becoming unpredictable day by day, therefore traders new or experienced need to have proper risk management regardless of your analysis of the market. I personally enter a position with a 3 -- 5% risk of my total equity.

3. Lack Of Patience
The trading market is not always green or red, it's unpredictable as I mentioned earlier so there will be good and bad days for a constant trader. The aim of all traders is to at least 10X their loss in profits but if this is not the same for you, you need to be really patient with the market and try and go through your analysis and strategies all over again. Sometimes it might even require you to change the pairs you trade.

Additional information and advice would be appreciated. Thank You, Stay Home, Stay Safe.

They are giving up because lack of knowledge that's the number one things, without it we cannot succeed in trading.
Then, it will followed by your tips in this thread section. As a trader, we need to be wise at all cost and We also need to become
a risk-taker as well.

Additional information, we need more courage and assertiveness. Many people run away from trading with regret, if they are determined to hold, buy or sell BTC, they will become rich, etc,...However, everything is impossible "if", we have to accept and don't give up.