That's the million dollar question, " why do new traders fail at trading"? Now there are many many possible answers, but what we are going to do today is go over the most common ones we hear and see from our new members.
Now we have members and traders from every walk of life and nearly every part of the world. So we can't blame failure on where we are or what language we speak.
One of the most common reasons we see new traders fail is due to the lack of a properly back tested system. A trader will need to either SIM trad a system for a period of time or go back and back test how this system has worked in the past.
Many traders do not want to do this step because they are eager to start making money. When in reality we see the most success from traders who take there time and make sure to have a properly back tested system with a rigorous set of rules.
In our coaching course we strive to make sure our traders have a thoroughly back tested set or rules and a system going forward. It is then up to the trade to put all this information to work.
Next up, we see traders fail do to an improper mindset. When we say improper mindset, what we really mean is they think trading is simply an ATM machine and all they have to do is punch a few buttons a day and be rolling in the cash. Sorry to break it to you but that's not the case, can you make a TON of money? 100% but that normally comes after you have a proper back tested system that has been producing results for awhile.
If you are a new trader or even a trader that has run into some issues in the past, instead of focusing on money focus on making the right trade. Focus on following your rules, focus on price action and building the skills needed to become a trader. Money will hopefully become a by product of do these things and doing them properly. In short focus on doing your job as a trader and everything else will eventfully fall into place.
The last reason we hear new traders fail is due to improper education. Now a days there are TONS of options out there on where you can get your information from. Make sure when you are shopping for your education, to sign up for a course/group that actually makes sense to you. We hope everyone who reads this who needs help becomes a Gorilla Futures Member if we are the right fit for you. That is why we are here to answer all your questions before, during and after you sign up. Our goal with Gorilla Futures is to create a community of traders who all help each other out and become the best traders they can be.
These are just a few of the reason we see traders run into some issues when it comes to trading. If you are new to trading or have been trading for awhile and are having issues, shoot us an email and let is see if we can help you out!