WHY DO MOST TRADERS FAIL? All of us have expectations when we go into trading but if we set our expectations too high and we don’t meet them, that makes us feel like we failed.
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On this week’s NinjaTrader Charting Edge, we touch on Crude Oil and look at chart patterns to see if we’re seeing something repeat itself. And guess what, I think we’re seeing that this week!
Then we’ll go over a tweet and our main topic. Where do a lot of new traders go wrong in their journey to becoming a successful trader.
We hear the stat that 90+ percent of traders don’t make money and I’m not even sure that’s true. What I believe is that it’s not that they can’t make money, it’s that they can’t make as much money as they want so they blow up their accounts in frustration. And this is what causes that stat to be so high.
Final thoughts for today “Traders, first off be present. Be self-aware. Accept where you are in your journey. Accept the market conditions for what they are. Don’t force anything. Great traders don’t force trades, they’re forced to trade. If you can be present, if you can be self-aware that’s where true success comes for traders.
Don’t look at what other people are doing. It doesn’t matter. This is your journey. So be yourself. Don’t try to be like anyone else.
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Develop Your Edge is a weekly YouTube show hosted by 22-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony and his guests discuss what they are doing to Develop Their Edge in trading futures! Past performance is no guarantee of future results.
