The formation of a profitable trader is not one year. For a long time you need to work to obtain a stable result. Most leave trading on the stock exchange for various reasons, but the main ones will be discussed in this article, which will help the beginner to make the right choice for themselves.
1. Thirst for money and fast money. Many beginners come here under the influence of advertising of various brokers and dealing centers. It says that anyone can earn a large amount of money. Of course, the main points about knowledge and experience that a trader has been acquiring for more than one year are omitted. The main focus is on a large amount of money, thanks to which you can fulfill your dreams by winning it on the stock exchange. Those who come hoping to win big money in a short period of time, without knowledge and experience, fail and go forever from trading.
2. Emotional pressure. When novice traders lose their thoughts about quick money and money, they experience different emotions, in the form of hope, fear, greed, and excitement. Many do not withstand emotional pressure, their forces leave faster than they manage to gain the necessary experience and knowledge in order to start making regular profits.
3. Lack of results for a long time. Even if a novice trader copes with emotional pressure, but at the same time he does not see positive results of his work, for many reasons such as: having a proven trading system, no analysis of errors and the reasons for their occurrence, psychological barriers that need to be worked on. Anyway, after the trader realizes that he works around zero or in a small minus for a long time, he decides to stop trading, because he does not see solutions to improving the situation.
4. Loss of several trading deposits. Loss of a trading account is reflected in the financial and emotional state. At the trader the self-assessment is underestimated, there is an uncertainty in the decisions and actions, the mood falls, that leads to depression. At such moments, you should take a break from trading to full recovery. In some, such periods last from one month to one year, the rest prefer to leave alone their nervous system and trading.
5. Understanding the trader that he is not doing his own thing. After several unsuccessful attempts to get a positive result on the trading account, there comes an understanding that he is not doing his job and cannot achieve the desired result for various reasons:
• Weak analytical skills • Lack of patience and diligence • Loss of interest to develop in the industry • Lack of motivation and hard work • Inability to constantly adapt to the market • Volatility of the market as a source of income • Fear of responsibility for their activities and the results • Unwillingness to engage in activities which requires large energy and emotional costs.