Post
Topic
Board Trading Discussion
Re: Why do many people fail in trade?
by
alastantiger
on 30/01/2024, 04:41:46 UTC
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.
If we ask successful traders how they achieved success in trading, they will tell us that it took years for them to start seeing results. We cannot learn trading quickly, "fastly", in 7 days, 14 days, 21 days, or 30 days or even hundred days and become traders or even successful. Trading is a course and not a crash course that takes many years to gain mastery in and because as you have said, we have many people who want do it as a crash course, they end up crashing out after a short while.

A trader should not seek the easy way to make money.
I blame those YouTube traders or scammers who make people think that trading is get-rich-quick scheme. Therefore why people fail is because we have a lot of passionless people who get into trading as a quick way to be rich. Little did they know that when their motivation and enthusiasm ends, that's when the passion kicks in and drives them to succeed no matter how long the trading journey is. It is people without passion for trading that fail.

Lastly, there are whole books on trading psychology. Traders fail easily when they try to use their regular psychology for trading. Traders need a different psychology for trading- the one for trading. We should books on trading psychology.