Mistakes Leading to Failure: Why 90% of Traders Never Succeed!
In this episode, we will discuss why 90% of traders lose in the world of trading. This episode is important for you to understand, as in today’s digital age, many people want to earn maximum profits just by working from home.
Why Do Many Traders Lose?
Did you know? Since 2015, the number of individual investors in Indonesia has increased by over 151%! Currently, there are 2.48 million people involved in capital market investments! Among these investors, 90% reveal that their investment returns are below the performance of the IHSG, with some even experiencing losses.
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“Losers average losers.” Paul Tudor Jones.
Paul Tudor Jones, one of the greatest traders in history, has this quote on his desk. It serves as a reminder to himself not to add to losing positions, especially because there’s always an opportunity to re-enter.
"Do you feel uncomfortable with a losing position? Avoid adding more money to it."
# One common reason many traders miss out on opportunities is their desire to become professional traders without sufficient learning first. This is often influenced by exposure to advertisements highlighting trading or highly favorable market conditions, such as those at the beginning of 2020. The market boom in early 2020 saw trading become a top choice for people looking to earn amid global panic and job scarcity due to lockdowns.
# Another key reason why traders miss out is a lack of knowledge and education. Many are drawn to trading with the belief that it’s a fast way to make money without much time or effort required. However, this view is a dangerous misconception, often ending in losses. Trading is a professional endeavor that should be approached seriously, similar to earning an income in any other field. While starting trading may have low upfront costs, the difficulty of achieving long-term profitability is very high.
To succeed in trading, a trader must have a deep understanding of the market, how it operates, and the factors that influence price changes. Additionally, traders need a clear strategy considering risk tolerance, investment goals, and trading style.
Furthermore, the trading platform or broker you choose is crucial. First, select a reputable platform registered with a regulatory body for legal assurance.
The importance of a good trading platform lies in enabling trading anytime and anywhere, even with a busy schedule. Time sensitivity greatly affects trading activities, so quick access to a trading platform is essential without needing a laptop or desktop.
With a quality trading platform, you can use mobile trading features to access and monitor the market while on the go. You can trade via the app even when traveling or waiting in line at the grocery store.
Unlike traditional trading, online trading allows you to trade at any time, day or night.
Wait, don’t skip yet!
As mentioned earlier, a reputable trading platform with proper licensing is a must! If you’ve been trading and often losing, it might be due to using an unregulated platform with uncertain security.
Now you don’t have to worry anymore! You can maximize profits by trading with a regulated broker in Indonesia none other than GICTrade!
GICTrade is a global trading platform connecting traders worldwide. Using advanced technologies like artificial intelligence and blockchain, GICTrade simplifies trading processes and provides easier access to global markets. Our platform offers a range of services that enable users to trade easily without obstacles.
GICTrade also provides various services and support to help users with their trading transactions. Features like a secure and transparent payment system using blockchain technology ensure security and reliability in payment processes.
Moreover, our platform offers responsive and experienced customer support ready to assist users with any issues or questions during trading.
Hold on, there’s more…
For beginner traders aiming for high profits but facing difficulties, GIC offers the Social Trade feature to make it easier for users. What is this feature? Let’s dive into the details below.
Before exploring Social Trade, you should understand what Social Trade is. Social trading involves traders sharing trading ideas and plans through social platforms, forums, and similar spaces.
Social trading doesn’t involve automated trading; each trader independently decides on strategies or even develops their own based on shared ideas.
So, what makes this feature different at GIC? Social trading at GIC is divided into two types: Social Trade Masters and Social Trade Followers.
The benefit of being a Social Trade Master is that you earn commissions based on followers who follow you. For Social Trade Followers, the advantage is the ease and speed of learning to become a master trader.
GIC's social trade stands out from other copy trading platforms because it doesn't impose restrictions on brokers. As a leading trading platform, we also welcome users from other legal brokers to join our social trading system.
Additionally, we offer cross-platform services where our social trade feature can mirror trades on MT4 or MT5. No matter who you are, you can register as either a master trader or a follower! You can even showcase your trading performance for public view!
The more followers you have, the higher your potential earnings. Pretty simple, right? To enjoy this feature as either a follower or a master, make sure you have a trading account with GIC.
Take advantage of GIC’s unique feature, which provides an easy way for you and others to earn extra income by becoming either a Master or a Follower.
Conclusion
Trading can be beneficial and profitable for those who approach it with the right mindset and strategy. However, as we've observed, many traders make common mistakes that lead to failure.
To avoid these pitfalls, it's essential to spend time learning as much as possible about trading, have a solid risk management plan, and avoid making trading decisions based on emotions or impulses.
Furthermore, it’s crucial to choose a trading strategy that aligns with your personality and investment goals, and be willing to adjust and modify it as needed. Having a trading system with a competitive edge is key. By following this guidance, we can enhance our chances of success and avoid the traps that cause many traders to lose money in the market.
Enjoy the Ease of Trading & Take Profit in Just One App, Register Now!