There is One Reason Why Most Traders Fail
WHY DO MOST TRADERS FAIL?
All of us have expectations when we go into trading but if we set our expectations too high and we don’t meet them, that makes us feel like we failed.
On this week’s Ninja Trader Charting Edge, we touch on Crude Oil and look at chart patterns to see if we’re seeing something repeat itself. And guess what, I think we’re seeing that this week!
Then we’ll go over a tweet and our main topic. Where do a lot of new traders go wrong in their journey to becoming a successful trader. We hear the stat that 90+ percent of traders don’t make money and I’m not even sure that’s true. What I believe is that it’s not that they can’t make money, it’s that they can’t make as much money as they want so they blow up their accounts in frustration. And this is what causes that stat to be so high.
Final thoughts for today “Traders, first off be present. Be self-aware. Accept where you are in your journey. Accept the market conditions for what they are. Don’t force anything. Great traders don’t force trades, they’re forced to trade. If you can be present, if you can be self-aware that’s where true success comes for traders. Don’t look at what other people are doing. It doesn’t matter. This is your journey. So be yourself. Don’t try to be like anyone else.
Develop Your Edge is a weekly talk show hosted by 22-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Past performance is not indicative of future results. Neither Anthony Crudele nor his guest’s guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this website or on the show. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned on this website or on the show may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on this website or on the show. Before acting on information on this website or on the show, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.