Like most skills trading requires knowledge and experience But being successful at trading also demands discipline which is where many traders fall flat They get lazy with their process and lose the initial spark they had early on and thats when losses start piling up ID: 912112
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The Main Reasons Why Traders Lose Like most skills, trading requires knowledge and experience. But being successful at trading also demands discipline, which is where many traders fall flat. They get lazy with their process and lose the initial spark they had early on, and that’s when losses start piling up. But why would anyone forego their proven strategy and start trading recklessly? There’s two common reasons for this: Reason 1: The market is hot, and traders get tempted by it too often When the market is hot and stocks are outperforming, traders are more likely to make risky choices. Seeing other traders seemingly make money left and right can make you feel like you need to catch up to cash in. This can leave you vulnerable to getting lo ose with your strategy. Even experienced traders can end up entering into questionable trades without vetting them properly. And it gets even easier to fall into this trap if you don’t have a well - developed or a strict checklist to keep you in line. Reason 2: T he market is slower than usual, and traders are getting bored The same outcome can occur when the market is quieter than usual. When there isn’t much for traders to do, they can get distracted and lose focus. Traders step away from their computers, start chatting with friends, or pick up chores to do around the house. They may come back to the computer to check on the market once in a while, but still find no trade setups that match t heir criteria. This is a recipe for jumping into risky situations. A bo red trader in a quiet market may pull the trigger on a trade too early just to keep themselves occupied, and an otherwise profitable trade can turn into a loss because the timing wasn’t right. This is why it is so important to have a process that keeps y ou in the zone. A trading strategy, a written - out checklist, and a clear emergency plan will help you overcome the main reasons why traders lose. View & Download Original Source @ If you’d like to learn more about day trading, check out the https://www.cobratrading.com/blog/reasons - why - traders - lose/ that Cobra Trading provides.