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Why Traders Fail ?Read These 20 points

  
  Education
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1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.

2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.

3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.

4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.

5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.

6. Lack of product orientation. Some people seem more concerned about the process than the result of activity.

7. Inability to complete tasks. For some people nothing ever draws to a close. Perhaps it’s fear of what they would do next or fear of becoming hopelessly enmeshed in detail.

8. Failure to initiate. Still others are unwilling or unable to initiate a project. It may be indecision or fear of commitment. (more…)

Why Intelligent People Traders Fail

  
  Education
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 1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.

 2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.

 3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.

 4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.

 5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.

 6. Lack of product orientation. Some people seem more concerned about the process than the result of activity.

 7. Inability to complete tasks. For some people nothing ever draws to a close. Perhaps it’s fear of what they would do next or fear of becoming hopelessly enmeshed in detail.

 8. Failure to initiate. Still others are unwilling or unable to initiate a project. It may be indecision or fear of commitment.

 9. Fear of failure. People may not reach peak performance because they avoid the really important challenges in life.

 10. Procrastination. Some people are unable to act without pressure. They may also look for little things to do in order to put off the big ones. (more…)

Trading Hints and Tips

  
  Education
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 tips-1

1. OPPORTUNITY. There are dozens of these every day, unfortunately you can’t buy them all, so only pick the top 10 and then narrow them down to 2 to 3.
 This is done by using your buying criteria which is part of your trading plan which you already have written down. (Hopefully you have one?)

 2. BUYING and SELLING. I have a pre planned strategy which I have developed by trial and error; this was achieved by learning by my trading mistakes  and the mistakes of others.
 3. PATIENCE.This is definitely a virtue worth developing. Sometimes the market is going up in the right direction, but is not going as fast upwards as you  would like.  Be patient and use a “stop loss” to lock in those profits. However small they may be.  Also don’t always be in a hurry to “buy that next share” just because you have that money burning a hole in your pocket.  Do your homework and then you have chosen the right share for the right reasons and not just because it looked good 

 4. STRESS.If it is hurting! Don’t do it, cut your losses or be content with a small profit and get out. (more…)

Focus On Obstacles

  
  Education
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Often we’re discouraged because of some tough challenge or obstacle in our way. But a shift in mindset from a Zen proverb can change everything: “The obstacle is the path.”

The obstacle isn’t something standing in our way. It’s the way itself.

That might seem strange, so let’s look at a few examples:

  • You are struggling with writing, and procrastinate. Procrastination is the symptom, but it also illuminates the path you should take: you are dreading something about the writing, you are shying away from discomfort, you are afraid of the writing or what will happen when you publish the writing. So work with that dread, the discomfort, and the fear. You’ll be stronger for having done that.
  • You are shy and can’t meet people. This can be seen as an obstacle to social happiness, or as a path for something to work with. Many people will avoid this obstacle of shyness, and instead stay home and not socialize. Instead, go towards this shyness, explore it, find out what you’re afraid of, work with that fear. You’ll get better at handling the fear, even let go of it, and it will no longer stand in your way.
  • You are stressed out and overwhelmed at work. You can complain about this problem (and it will then continue for the rest of your life), or you can immerse yourself in it, let it lead you to self-exploration, and deal with the source of that stress and overwhelm. You’ll learn that you have unrealistic expectations and ideals, learn to let go of them, and the stress will go away. You’ll now have a tool for dealing with stress for the rest of your life. (more…)

Traders needs Patience , Decisiveness & Gratitude

  
  Education
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1. Patience
 
“The waiting is the hardest part” – Tom Petty
 
“Patience pays. Wait. Let the hand of God work for you. One who has created you let Him create all the environments, circumstances, and facilities & faculties” – Yogi bhajan
 
I don’t know about you but I trade to put food on the table for my family. In the long run if f I don’t make money – we don’t eat. A lot of trading is waiting. Waiting for the best trade to come to you, waiting for your scales to be hit, waiting for final target to be hit, etc. If you are impatient you lack the ability to wait for these things. If you are trading for excitement or thrills then you will find yourself taking stupid trades out of a need for action and in return you will not experience the results you desire. Much better to head to Vegas or go bungee jumping. Before I put ONE DOLLAR at risk I want to be sure that the odds are stacked in my favor. You won’t find me trading out of boredom, or taking a low odds trade because I feel the need to do “something”. I am fine being flat. You should learn to love the waiting – the waiting is what enables you to make the money.
 
2. Decisiveness.
 
“It’s better to be boldly decisive and risk being wrong than to agonize at length and be right too late” – Anonymous
 
“Procrastination in the name of reducing risk actually increases risk” – Colin Powell
 
“Take time to deliberate, but when the time for action has arrived, stop thinking and go in” – Napoleon Bonaparte
 
“In any moment of decision, the best thing you can do is the right thing, the next best thing you can do is the wrong thing, and the worst thing you can do is nothing” – Theodore Roosevelt (more…)

Why Intelligent People Traders Fail

  
  Education
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1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.

2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.

3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.

4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.

5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.

6. Lack of product orientation. Some people seem more concerned about the process than the result of activity.

7. Inability to complete tasks. For some people nothing ever draws to a close. Perhaps it’s fear of what they would do next or fear of becoming hopelessly enmeshed in detail.

8. Failure to initiate. Still others are unwilling or unable to initiate a project. It may be indecision or fear of commitment.

9. Fear of failure. People may not reach peak performance because they avoid the really important challenges in life.

10. Procrastination. Some people are unable to act without pressure. They may also look for little things to do in order to put off the big ones. (more…)

Pull out partial Profits

  
  Education
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channel-profitsPull a portion of winnings out of the market to prevent trading disci-pline from deteriorating into complacency. It is far too easy to rational-ize overtrading and procrastination in liquidating losing trades by say-ing, “It’s only profits.” Profits withdrawn from an account are much more likely to be viewed as real money.

Decisiveness

  
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“It’s better to be boldly decisive and risk being wrong than to agonize at length and be right too late” – Anonymous

“Procrastination in the name of reducing risk actually increases risk” – Colin Powell

“Take time to deliberate, but when the time for action has arrived, stop thinking and go in” – Napoleon Bonaparte

“In any moment of decision, the best thing you can do is the right thing, the next best thing you can do is the wrong thing, and the worst thing you can do is nothing” – Theodore Roosevelt

If you have the patience to wait for your setup then you better have the decisiveness to GET IN THE TRADE once price comes to you and your entry parameters are present. How many people wait for the trade to come and then when it arrives start analyzing if they should take it? When the trade has arrived it is time for action, not analyzation. This is what preparation is for. If you have done your homework there is no need for hesitation – you already know what to do. At the same time trading is not static. There are times when the odds are high that the market will reverse before your final target is hit. Do you have the decisiveness to reverse the position or flatten when this situation is present? It has been said that the number one ingredient to being a great trader is the trading guts to pull the trigger as soon as a reverse is anticipated. Be decisive.

The Secret To Success

  
  Education
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Never forget: This very moment, we can change our lives. There never was a moment, and never will be, when we are without the power to alter our destiny. – Steven Pressfield

One of the greatest powers of Resistance and procrastination is that they compound themselves over years and decades. They can build to the point where they make you feel as if you have no control over your own destiny. They make it easier to just give up and be normal.

Pressfield reminds us that we are always in possession of the power to change the course of our lives. At any single moment of our lives, we are capable of completely altering the way things are going. 

After years of allowing the Resistance to hold us back in our trading, the chances of ever achieving trading success might seem bleak. It is important to keep in mind that we always possess the power to change that. We can beat the Resistance and procrastination through diligent and consistent work.

That is the one and only secret to trading success. It is also the one and only secret to success in just about any other field you might want to pursue.

Why Traders Fail

  
  Education
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Why Intelligent People Traders Fail

1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.

2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.

3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.

4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.

5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them. (more…)

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