– Trading with no edge-Lack of a defined strategy
– Lack of self awareness.
-Mindset & Psychology: Approaching market from default survival mindset-Trading not to lose VS thinking in probabilities & accepting losses. When it comes to high performance trading, IMHO trading is 80-90% psychology & mindset approach.
– Trading their account balance or P&L Vs process.
– Failing to adapt to market changes
– Poor risk management
– Over-leveraging and over-trading
– Undercapitalized
– Lack of focus,sleep,mental energy.
– Reason outside of trading.
– Trading to get rich quickly.
– Not having realistic expectations & lack of hanging them.
– lack of emotional resilience
– Lack of patience and discipline
– Trying to predict market direction
– Trading is very personal, and one has to concur his own personal challenges they bring into trading. ..etc
It takes years to master trading, as a traders needs to master themselves & their inner demons before achieving consistency when it comes to trading and life in general.
Becoming aware of their self sabotaging patterns, coping mechanisms and underlying emotional needs that they bring into their trading is what holds most traders back from achieving success & overall consistency.
The power is within, and its a lot of hard work to achieve great results. One can start with working on a single challenge at a time & building one skill on top of the other as they gain experience with time. nothing comes easy, trading is a life journey.
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