A Day Trader Losing MoneyA Day Trader that is consistently losing money must take a hard look at the trading system he is using, his discipline, and his emotions. The problem lies in one, or any combination of these three factors. Although the primary premise of this website is for aspiring new day traders, I realize that people that are unsuccessful at trading will be visiting as well. I'm happy you are here because this information will help you. I was a losing trader because of all of the aforementioned reasons at one time or another. The first thing to look at is the trading system you are using. Is it a profitable system? Are others making money with the system? If you are unsure that the trading system is a proven method, obviously, you should not be risking your money with it! Find a system that works. Try visiting Adam Hewison's FREE Trader Course , where you will find scores of useful information. Believe it or not, when I come across a day trader that is unsuccessful he will normally be trading a proven, and profitable system! I know this because I hear from them all the time. The problem almost always lies in both discipline, and control of emotions. It is these two factors that destroy the majority of traders. One report, I read years ago, said that 95% of Day Traders lose money, and 10% go bankrupt. And I believe it! The simple definition of discipline is making anything you do become habit. You must be consistent. It is imperative that you set predetermined rules and stick to them. This is not just in trading; it is in all areas of life. We all know people that are all over the place, and can not stick to anything. In most cases they are not very successful. People that do not have self discipline allow their emotions to control their lives. This is especially true of a day trader. The inability to control emotions inevitably leads to bad decisions. Heck, this fact keeps psychiatrists, and psychologists in business. Lack of emotional control is single biggest reason for all human failure; hands down! The good news is that anyone can learn to control their emotions. Learning discipline, and emotional control are learned skills just like learning to read, and write. Unfortunately, many people are not taught these skills when they are young. This is the cause of addiction problems, relationship problems, career problems, and certainly the reason many traders fail. There are professionals that make their living, helping people in these areas. I know of some that actually specialize in helping traders. Try going to the Blog mentioned above, or you may try searching for a video on the Psychology of Trading at INO.TV , they have videos from experts in all area of trading. Little does a day trader know, his whole life will change for the better, once he learns these skills. These people are not shrinks; they are mind trainers. There is a big difference. It is my opinion that every trader, whether just starting out, or experienced should learn to
control his mind.
Again, If you are losing money, it is up to you to identify your problem. More importantly, you must correct it! If you want to learn to trade without a huge learning curve, do yourself a huge favor and sit in on a free trading session with
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