Why Traders Fail: The Answer May Surprise You

Why Traders Fail: The Answer May Surprise You
 
There are many ways to make a living or even a fortune in the financial markets. Like a sumptuous Sunday brunch buffet, the plethora of choices that face a trader are enormous.
 
Will you trade options, a trend strategy or a momentum method? Are weekly options better or calendar spreads?  What vehicles will you trade? Choosing from individual stocks to ETFs to futures to forex is enough to make anyone's head spin.
 
Sometimes a trader's worst enemy – and the reason that he or she fails is the reflection you see when you look in the mirror.
 
Yes. I mean you.
 
Why You Should Listen To Me
 
My name is Sarah Potter. I am an options trader with years of experience under my belt. I've seen this firsthand. I had a successful career as a professional educator. But, my fascination with the markets superseded. First, I traded part-time. Then, I took the very big leap to full-time trading. I understand the risks and the rewards that choice brings. Trading full-time has made me a better trader. I founded SheCanTrade because I believe that everyone can trade successfully with the right tools and knowledge.  I want to help you succeed just as I have.
 
Looking in the Mirror
 
The surprising truth is that trading will bring the best and worst out of anyone. It forced me to look at my strengths and weaknesses and leverage my strengths to overcome some of my weaknesses. Whether you were looking for this or not, trading is a great self-improvement tool.
 
There are a number of reasons traders fail to find success.
 
4 common Trading Roadblocks
 

  1. The Trading Thrill Seeker: Do you get a jolt of excitement every time you enter a trade? If having a trade on pumps the adrenalin flowing through your veins, it's time to take a step back and look in the mirror. Successful trading is not supposed to be thrilling.
 
  1.  The Multiple Trading Method Trader: Do you find yourself jumping from one trading method to another? Successful traders choose one approach, master their craft and achieve trading profitability by trading "what they know."
 
  1. The Emotional Trader: Some traders react to losing positions, with the desire to jump back into the market to make back the loss. If you've ever put on a "revenge" trade to you know what I'm talking about.
 
  1. Cash-out Charlie: Some traders lack the discipline to hold onto winning trades. Even though you might have a winner, you aren't able to chalk up a profitable month because you exit too early. This is why trade exit points matter. Before you ever enter a trade you should develop stop-loss points and profit targets.
 
What Helped Me
 
It is imperative to remove the emotion from your trading. Easier said than done I know. That's why I relied on my trading journal to help me stay objective about which trade set ups are most profitable for me each month. My trading journal also keeps me honest about trade set ups, profits and losses. I've realized that if I write it down I become accountable.
 
Take the Next Step with SheCanTrade
 
If you can relate to any of the trading road blocks that I mentioned above, I invite you to sign up for a two-week trial of my live options trading room service that includes trade alerts sent directly to your phone. I've helped hundreds of traders achieve success they weren't able to find on their own. Reach out and connect today.  Let's trade together!
 
Read More:
 
Is A 'Call' Just A 'Call'?

 Share This
Return to Blog