3 Reasons Why You Do Not Earn Money

Do Not Earn Money Reasons

There will always be traders who make much more money than you and that does not mean that they are smarter, they simply do things in a way that allows them to be winners.

In this article I wanted to collect you the three main keys so that you may not be making money (yet).

1. You don’t have a defined plan

Successful traders are traders who have spent time creating their planstudying the chartscreating a trading system, and setting entry, exit, and risk management guidelines while in the market.

Winning traders leave nothing to chance. They have everything calculated, down to the smallest detail and execute their operations according to their plan.

Simply with this point they are already well ahead of most traders who have not created a plan and enter the market by pure intuition.

2. You worry that you will miss the stop loss

Skipping the stop loss is a positive thing, since it prevents you from losing money, much more than you could afford, but many traders see it as a negative and think that they have made a mistake and that they should change the system.

If you miss the stop loss, think that it is simply a result of one of your operations, and that this result must comply with the probability that your system has. That is, if your system has a 60% probability of success, you must be aware that you will lose the remaining 40% and, therefore, you should not worry about a simple losing operation.

When you skip the stop loss, the result is noted in the trading book, a screenshot of the graph is made and you only have to ask yourself if you have entered according to your system and your established rules. If the answer is yes, then you have made a great operation because you have fulfilled your strategy.

3. You don’t know when NOT to trade

To win many times you have to be still. Without operating. As simple as that.

The market is most of the time in range, neither bullish nor bearish, and therefore you must be patient to wait for the right moment to enter the market.

Being patient will make the difference between being a winner or not, because you will avoid shooting everything that moves and entering operations with little probability of success.

If you are impatient and feel anxious to trade you will see possible entry patterns where there are none and you will open trades where you should not open them.

Review these three keys over and over again and try to adapt your trading to them:

  1. Create a trading plan.
  2. If you miss the stop loss, write down the result for the next operation.
  3. Detect when the market is in range or lateral and avoid trading in those conditions.

And remember, the way to success is attitude.

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