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Why do traders lose money?

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I am now working on a longish video to discuss the main reasons for Trader failure. We all know the stats, 95% fail blah blah, but of course you are not one of them, or are you?

In this video, which will only be the starting point, I intend to explore some truths, based on my experience as a trader over many years. I will be looking at belief systems, at self sabotage and at blindly following signals and other traders.
This is quite a task and I want to get it as accurate and comprehensive as I can, so I have set no deadlines and will publish it when I am ready, and when I know it's right to do so.
Whatever you do, if you are consistently losing money in the Forex or any other market, please stop throwing your money away, it's habit forming and will eventually cost you more than the money you lose. Stop, examine what you are doing, take a good long long at yourself, and simply observe yourself with no judgment or criticism. Often, simply slowing down and taking a calm and reflective look can do the trick.
I know that sometimes it's easy to blame the market, to see those little ticks as the enemy, "Why is it that it always goes against me?" and other such questions. If you consider the fact that the observer often changes the results of the experiment, you may be able to start seeing the importance of what you think about, but this is a very big topic, involving some Quantum Physics and further explanations. (I recommend "The Intention Experiment" by Lynne McTaggart).
The purpose of this post is simply to keep you informed and ask you to send me any questions/ideas or anything at all you'd like me to explore that will help you with your trading, please send me an email to mailto:info@tradeconscious.com?subject=Why Traders Lose money, questions/ideas and I will try to include as many as I can. Alternatively simply leave a comment below.

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2 comments to Why do traders lose money?

  • James

    Even though I know better, I seem to repeat the same mistakes, by forming a strong opinion and then trading it even though I know better. What do you think is causing this and how can I overcome it? Thanks, James

  • James, this is something I hear a lot from other traders. The issue is that we are pretty much hard wired to have an opinion and stick with it once it’s formed. In trading, this is a killer because the market is constantly changing, chopping and turning. I will address this more in the videos to come out soon. In the meantime, see my sample trading plan and see if it can help => Sample Trading Plan
    Cheers, Mark

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