Books and experts say 95% of traders fail or maybe lower but whether the statistic is true or not still it is a fact that most traders suffer years of constant struggle in the market, trying every strategy available, tweaking your system here and there but the end result is that you are still losing money and it become a cycle, why?
Based on my own experience all this things happen in a trader's life because of the inability of that particular trader to consistently follow or implement his strategy and risk management in a consistent basis. Traders try to do some stupid things somewhere along the way and will lead them to more losing trades that can drive them to become indiscipline, psychologist called it self-sabotage. Of course a good trading strategy is also part of becoming a profitable trader but if you cannot follow its trading rule in a consistent basis all efforts will be in vain, whether you have a bad strategy if you follow proper risk management approach you wont get your account wiped out.
Trading needs discipline all the time that by just one mistake it can turn your trading upside down, in order to have better chance of success in trading we need to think logically all the time, we are emotional by nature but we have to suppress emotions during trading and emphasize in our sub-conscious mind that the only way to succeed as a trader is to have the right mindset and be logical in making decisions all the time otherwise we will be just part of the majority of traders that keeps on losing money through years of trading. Aspire to be psychologically prepared first before you attempt to try any trading strategy in real market. Emotional and technical preparedness is a must in order to achieve your goal in becoming a successful online trader.
It easier to say be a discipline trader all the time than doing it, in reality it is very hard to be a discipline trader and follow a certain methodology once you engage the live market, once the price start to swing up and down in front of your naked eyes your brain start to react differently that can most of the time lead to actions that you don't intend to do or do things not according to your trading plan or strategy, the real challenge to every trader is to suppress or control emotions during actual trading and act based on your chosen strategy not on your own discretion.The process of becoming a discipline trader may take months or years but we have to persevere in order to achieve our ultimate goal to become a financially independent individual.
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