Now-a-days many people are interested in trading. But it is harmful for everyone especially those who are trading without knowing it. They are losing all money despite knowing technical analysis. The main reason is psychological.
Trading has really caught peoples attention and everyone wants to be part of this....and if you ask me ,this FOMO is actually one of the reasons why people are failing because they don't have a strategy to start with and keep gambling which every profitable trade knows is a recipe for failure!!!On the "Psychology " part I kind of agree...very few people know how to manage this but you can counter this by following your strategy to the last bit...
I have shared a photo below if following this photo will benefit them. Although beginners get technical analysis right then they get lost in psychological. I think this psychological conundrum should always be kept in their head.
Noted: This photo is taken from a group. Avoid copyright issue.
Emotion for me is the real winner that gets most traders losing because they lack the patience and just can't wait..if that's not what will get you, then the revenge trading will as non of us love to see ourselves losing which is why the blowing of accounts happens...Noted: This photo is taken from a group. Avoid copyright issue.