Some traders fail when they start doing online trading. Why is it happening? How can they avoid it?When we say that some traders fail when they start doing online trading, we do not mean to lose money: everyone who trades can lose money, this is part of the rules of the game. The traders who fail are those who lose (very little, no matter), they are discouraged and stop trading. Why is it happening?
Not everyone was born to do online trading
Online trading can be a source of great earnings but you should not think about trading as a machine to make easy money. When you start, the online trading does not take a big capital (you can start with a capital of just 10 euros) but it takes courage and winning mindset.
Making online trading means doing market operations, many transactions. Some of these will close in loss, others with earnings. Even millionaires traders lose money on some operation.
Those consider any loss as a tragedy, they are not really fit to do online trading. Better for them to do something else.
The winning trader is not the one who knows complex strategies, after all the strategies you learn or you can copy automatically using a social trading broker. The winning trader is the one who is capable of dominating the emotions.
And unfortunately not all are capable of it. To avoid loss as a trader is important, then, do an analysis of your personality to figure out whether you are able to withstand trading stress or not.
The wrong trading platform
Needless to go around: The online trading platform that you use it really makes the difference. In many cases, you can lose money because of a wrong choice.
The most striking case is that of unauthorized platforms: choosing a platform like that means losing all your money, because in most cases they are real scams.
Beware of scams
The worst way to start doing online trading is to believe the promises of easy earnings. Systems such as 1k Daily Profit, safe and instant gains. In fact, they are systems that do not work and that, indeed, they make you lose all the invested capital.
Those who start doing online trading should never believe, for any reason, to that kind of promise. They are fake and deceptive promises, designed to drive the trust and money of the less experienced.
Online trading is not a way to make easy money: to earn it requires an authorized and regulated platform, it takes commitment and takes time to devote. Anyone say something different, probably, is trying to cheat.
Author: Editorial staff of 70 trades reviews blog