Getting started in trading is one of the most challenging activities for everyone, because it requires knowledge of a series of factors and aspects of the market (and oneself) in order to perform efficiently and achieve success in the activity. However, one of the most frequently asked questions by novice traders is whether trading can be profitable for them.
When someone answers that it is possible, then the next questions are usually "How long?" and "How much can you earn monthly?" And that's where novice traders hit a big wall, basically for two reasons: 1. Because no one can exactly answer those questions for them, and 2. Because they're keeping a totally wrong approach to trading, because they're focusing only on the money they can make, instead of focusing on the knowledge they need to learn and the strategy they need to develop to be consistent winners in the markets.
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Maintaining the wrong approach is what makes most novice traders (people just starting out in trading) quit trading soon after starting; because the main problem is that they are focusing on the money that they could earn instead of focusing (as I said), on the knowledge that they must learn, and the experience that they must gain to really understand what is happening in the markets and what they must do to operate in the best possible way.
In addition, they also do not understand that they must correctly manage their economic capital at all times; and that is why novice traders are often reckless in their operations, losing most of the time by being too risky and confident in their movements.
But explaining all this to a novice trader is usually a waste of time, because most of them just want to start trading the markets as quickly as possible and don't want to know anything else; and that is when they lose all their capital and end up talking trash and unsubstantiated things about trading and the market.
Quite simply, most traders give up soon after starting, because trading is not an activity that all humans are capable of understanding and performing successfully. Because only a small percentage of the population is capable of understanding that everything that happens to them when operating in the markets is a consequence (mostly) of their actions; and for the same reason there are few who can really become consistent winners in trading.
But do not misunderstand, I am not saying that the markets go up or down because a trader understands or does not understand what he is doing with his trades, but rather that a trader wins or loses based on his direct actions and decisions, regardless of what what the market is doing; And understanding this is a vital factor in being a successful trader in the markets, because it means taking responsibility for your own actions and not blaming the markets for losses that could otherwise have been avoided.
So let us always remember all these things when we decide to trade the markets.
What do you think about the topic discussed? Please comment.
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@piensocrates