Majority of online traders fails in the long run,statistics reveal that only a few percentage becomes a successful trader, why? is it due to a bad strategy? or poor risk management? well at some point it maybe true that a trader fail because of a bad strategy or poor risk management but I believe that majority of traders fails not in this aspect, traders fail because they become indiscipline in following their trading strategy.
There are thousand of good strategies circulating in the net and most of this are free, in fact to be a winner in trading we dont need those complex strategies, a simple combination of existing free indicators in our platform or by just using a price action strategy can make us a profitable trader but why is it that the opposite happens? that is because majority of traders becomes indiscipline in following their strategy especially if they bump into successive loses. Human mind are programmed to be a winner since we are born in this world and if we suffers losing trades we instinctively want to get out in such a situation that can lead us to altering our trading strategy that will resort to discretionary trading thereby abandoning our strategy, being discretionary in trading can lead to frustrations and bring more losing trades.
Being a profitable trader means being discipline and focus in following a particular strategy in a consistent basis, we cannot just shift or change strategy whenever we wanted, every action in trading should be well planned and tested otherwise we will lose money over and over again.It is very important that aspiring traders understand and learned trading psychology first before anything else, it is the very foundation of how to become a discipline trader which is a must in the trading world.
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