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If you research the stats of success rates of retail traders, it’s shockingly low!
Just now I did some googling, and various articles are stating around 70 to 90% of retail traders lose money in trading!
So if you’re one of those traders who’s been losing, I think the solution to minimise your losses is to learn to lose properly first!
What I mean, is first learn to lose less!
Because, when you’re in the markets, there’s the only thing you can fully control, and that is your stop loss.
You can’t fully control your profits, because the markets will decide how much profit it will give you.
If you learn to lose less “successfully”, then that is a significant level of success in your trading career.
So how do we learn to lose properly or less?
Simply by educating and teaching ourselves proper risk management strategies and techniques.
Once you’ve mastered to lose properly by losing less, you are now transitioning from the category of “losing” traders to the “winning” traders!
Next, do exactly the same, but this time, educate and teach yourself about profitable strategies and profit-maximizing strategies and techniques.
Learn, and practice these two combinations in a habitual, consistent and disciplined way and then check your trading stats.
I think you’ll be impressed with yourself, and almost crying tears of joy and be grateful, that you’re finally making a breakthrough in your trading career after losing so much!
If you’re thinking, Saeed, this is all trading 101, basic stuff, true.
BUT tell me, are you learning it and applying it, in a habitual, consistent and disciplined way?
Because if you are, there’s going to be good chance that you’re winning more times not.
And that’s the secret to success in trading.
I’m saying all this because at first, I disregarded the basic, fundamentals of trading and was losing badly!
Then I started doing exactly what I’m telling you and I’m finally realising some positive results after a loooooooooooooooooooooooooooooong time:-)