When you first start a class or lab, it will be hard for you to understand the classes properly. It is natural for almost every human being. After sometimes, it should be easy for you to adapt to the classes. And, you can always ask your course teacher for help. But, your effort is also required for better understanding. If your teacher helps and you still cannot understand the topics discussed on, it is your fault. Because you are not trying enough. In trading, everything is on you because retail trading is operated only by one person. So, the poor results also point to one person only. If you cannot find out the reason behind your demotion in trading, we are here to help. We will show you those what might be your problems and try to show you some solutions
Too much greed
Trading is good for a decent income. But, you have to show that you are worthy. So, how can you show that you are eligible for earning a decent amount of money? The answer is your instinct and your skill of trading. When you are able to trade efficiently, only then you will see better outcomes. But, most of the traders don’t have any headache of their efficiency. Instead, they think of how they will earn more and more. So, the novice traders often make mistake like overtrading which can ruin their trading career.
The experts will say, that is not the right way of trading. The right way is to aim for the improvement in your trading performance. Improve your efficiency in this business. Stop thinking about the money and making more profits. Only then you can become a successful trader.
Lack of proper education
Many professional Singaporean traders are making tons of money due to their advanced knowledge of risk management. They are actively participating in the CFD trading industry with a proper strategy. On the contrary, the novice traders don’t have the proper education to trade the market. They are just placing trades without doing the perfect analysis. IN order to become a profitable trader, you must train yourself hard. In fact, proper education is one of the key factors which will help you to make a decent profit. Find some expert traders and seek help from them. Read books and articles on regular basis and you will see decent progress in your trading performance. Never trade the market with emotions as it will ruin your career.
Poor planning
Every job needs planning, as it helps to keep everything organized. Planning also helps with time consumption. Because an organized workflow will take less time to complete a job than an unorganized one. That is true for trading too. You have to plan your trades as well. To be more specific, you need to create a trading edge (strategy) first. And then make a trading plan for yourself. If you are a novice trader and you are trading as a day job, a trading plan according to your daily schedule is a must. Otherwise, your performance will be unorganized and you won’t be able to participate regularly. So, create your own trading plan and improve it day by day.
Lack in concentration
You are trading to as a job and it should be a serious matter. You have to take it seriously. As retail Forex trading is only operated by a trader, he or she should give proper concentration to it. You can’t think of how you can pull a certain trick shot in a pool game or why the game of thrones series is departing from the books. When you are trading only think about your trading performance. Don’t let anything distract you, not even your kids. The right way to prevent this is you set up your trading office in a smaller room where no one can disturb you. You also have to stay committed to your work.