SUFFERING BIG TRADING LOSSES?
As a beginner trader, or even as a long time day trader, one thing that can be really disheartening is when you suffer big trading losses. This is especially the case if you suffer from big trading losses time after time, and time again. Yes, it does happen, even to the best of us. Sometimes a few trades go down the tubes and we end up losing a whole lot of cash, sometimes tens or even hundreds of thousands of dollars. As a beginner day trader, these big trading losses might scare you away from day trading once and for all, whether Forex, crypto, indices, stocks, or commodities.
When you suffer so many losses and limited wins, or no wins at all, you might be quick to throw in the towel and go back to your mediocre and menial 9 to 5 job. However, we don’t want you to give up on your day trading dreams just yet. When it comes to suffering multiple big time trading losses, there are some reasons as to why this might be happening. Today we are here to find out exactly why things aren’t going your way, and how you can correct these issues too. Let’s get right to it and help you stop suffering trading losses and finally put some ticks in the win column!
Why The Trading Losses?
So, now we are going to cover 5 of the biggest and most important reasons as to why you might be suffering from large and multiple trading losses. With any luck, we will help you identify the issue, as well as identify a remedy so you can get back to putting money in your pocket on a consistent basis.
You Are Unfamiliar With Day Trading
So, you have just downloaded a trading platform, pumped some cash into it, and lost it all in a matter of minutes? The question here is, have you ever day traded before, Forex or otherwise? Have you studied the brokers and trading platforms? Do you know the difference between Forex, indices, CFD, and other forms of day trading? Knowing how to study charts, indicators, and engage in analysis is a big deal if you actually want to win trades.
Some people are under the impression that day trading is easy and fool proof. Well folks, fool proof it is certainly not. If you are unfamiliar with day trading in general, the trading losses are sure to pile up. However, with that being said, with a good teacher like Andrew from the Income Mentor Box Day Trading Academy, you can quickly become intimately close with day trading. Simply put, you need to learn before you do.
You Aren’t Saving Cash
On a side note, while it may not have much to do with your trading losses, you still want to save cash. Lots of traders out there get really giddy and irresponsible with their winnings. People will win some trades and then go out and blow all that cash on something fancy.
Yeah, it feels good in the moment, but what happens when you lose several thousand the next day through trading? You will wish you hadn’t splurged! Guys, save your winnings, at least part of them, so when trading losses hit, you have a safety net to fall back on.
Lack of Record Keeping
Another big mistake which can lead to major trading losses is not keeping good records. What we mean here is that when you do happen to win a trade, you need to record and analyze what exactly lead to that win. How did you win that trade? The same can be said for losing trades.
You need to be able to analyze why trades were lost or won, and what lead to that result. This is not something that is very easily done, but with a program, like the Income Mentor Box Day Trading Academy, you can learn it with minimal trouble. The fact of the matter is that trading losses will keep happening if you don’t know the reasons behind the losses.
Being Scared of Failure
Perhaps one of the biggest reasons why you might be suffering from trading losses is because you are scared to fail. This is common with beginner traders who don’t have much knowledge or experience with day trading.
Yes, it is ok to be a little fearful or weary of losing. You should never be 100% confident that you will win trades. However, being scared of risking some cash and taking a risk is not good either. Holding back too much will not do you any favors whatsoever. If you want to get over your fear of risk, you should absolutely check out the Income Mentor Box Day Trading Academy.
Not Having The Right Mentor
The bottom line is that learning how to be a successful day trader is really not something you can do on your own. You need the right teacher, somebody who has already made these mistakes and learned from them. Without a shadow of a doubt, we think that the best day trading teacher out there right now is Andrew from the Income Mentor Box Day Trading Academy.
Stopping Trading Losses – The Best Solution
When all is said and done, all of the trading losses you are experience really just stem from one single issue, a lack of knowledge, skill, and experience. However, these are things you can train, practice, and get better at. As we mentioned before, one of the best trading schools in the world is the Income Mentor Box Day Trading Academy. This Academy is led by pro trader Andrew, who’s been in the game for well over a decade.
Not only do Andrew and his Income Mentor Box Academy know how to stop those trading losses, but you will also learn the ins and outs of day trading. Through the Income Mentor Box Day Trading Academy, you will learn literally everything you need to know about trading Forex, stocks, indices, and more. The goal of this trading school is to help you quit your 9 to 5 job so you can become a full time and professional day trader with ample profits.
If you would like to find out more about cryptocurrencies and cryptocurrency trading, go to our Cryptocurrency Explained section!
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