Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.

Traders lose because the game is hard, or out of ignorance, or lack of discipline or because of both.

When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything.

Remember, your goal is to trade well, not to trade often.

Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.

Most private traders on a losing streak keep trying to trade their way out of a hole. A loser thinks a successful trade is just around the corner, and that his luck is about to turn. He keeps putting on more trades and increases his size, all the while digging himself a deeper hole in the ice. The sensible thing to do would be to reduce your trading size and then stop and review your system.

Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.