Why most traders fail? & here’s what you can do about it?
At Betfair Trading Community, we are always wanting to help traders get better. Recently we did a survey of traders…. we wanted to know why traders fail….
The results amazed us! Most people would presume (us included!) that traders fail because they don’t have a strategy or an edge – correct?
BOY were we wrong! That didn’t even come in the top 3 reasons why traders fail!
The main reason traders fail was due to discipline. Arghhhh discipline that thing we all know we need work on but none of us really want to do it? Am I right?
So if the reason traders fail is because of discipline how does that actually look?
Well they have a fear of missing out
Also they want to grow their bank too fast
Some don’t even know what they are doing
While others don’t do the thing that the 5% of profitable traders do
Let me know in the comments what you think about why traders fail and what you are going to do to make sure that you don’t.