Post
Topic
Board Trading Discussion
Re: Trading and losing
by
LogitechMouse
on 06/01/2025, 06:37:48 UTC
If you are also keen on not losing in trading this year, then maybe you should also consider getting under the tutelage of a mentor if learning important concepts on your own is a challenge. The mentorship fee will be less than the amount of money you will lose trying to trade on your own. Mentorship is no assurance of success, but it will increase your chances of becoming a successful trader if you are having problems learning on your own.
What makes you think trading mentor is important? Are you a trading mentor? Or trading mentor taught you and you are very good in trading?

Trading mentor can lead to scam. Newbie traders are new and they do not know anything about trading at all, so someone that is a loser can be their mentor and teach them how to lose money.
I also don't believe in a trading mentor as well because what I believe is that you can learn anything all by yourself. Yes, it will take you so much time and money along the way, but that would be way better as you will learn through your own mistakes, and experiences, and you will make better decisions from there. You will make some adjustments on your strategy based off your own experiences. I've made several trading mistakes in the past, and I might not be profitable currently, but still, I learn from all of them, and making better decisions now than that of a few months ago.

Quote
Re: Trading and losing
OP has shared some good tips as well but might as well share some that I had read online yesterday.
1. Don't take a trade when you're in the middle of something or there's some distractions around you. That's the easiest way to lose your money.
2. Sticking to ONE strategy is always better and have a better chance of making profit. Don't add unnecessary indicators on it.
3. Always set a stop loss.
4. Aim for only taking low number of trades per day. The more you take, the more you "chase" therefore, the higher the chances you lose.