Saturday, 20 June 2015

6 Questions To Ask Yourself Whether To Quit Trading

Answer these questions and you will know whether your should quit trading

The average trader believes that he just has to get enough screen-time, find the one indicator that gives him the best entries and hope that markets are finally going back to ‘normal’ so that he can be a profitable trader. Trading is hard and it takes many years until you can be a profitable trader, but 99% of all traders will never get there even after years of trading. If you have been involved in trading for a few years you will probably know some people who still look like bloody amateurs after many years of trading and are as far from becoming a profitable trader as they were when they first started out. The way the average trader approaches trading has nothing to do with how you transform yourself into a professional trader. In the following we explore the top reasons why traders do not make progress and why their beliefs will always hinder them from becoming profitable. While you go over the list, be honest to yourself.

Quote for the day

“In a nutshell, if you're too conservative, you won't do any trades, and if you're too aggressive, you're going to get picked off a lot. The trick is to try to strike a balance between the two.” - Jeff Yass