A Complete Guide to Failing as a New Trader

Robert Millar • 18th July 2018

A lot of traders, including myself, talk a lot about how to succeed as a trader. 

However, you rarely see anything about how to actually FAIL as a new trader. 

You have to know how to lose before you can know how to properly win and avoid that failure.

Confused? Let me help..

There’s a big difference between losing on your trades for a few weeks than complete failure. Losing streaks happen and are part of the game. The Fous4Trading Team is here to help you avoid failing as a trader. 

That is why I have decided to write the 6 biggest things you can do to fail at trading.

AVOID these at all costs, and understand these are the things that MOST new traders actually do! You may not even know it.. 

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Spoken first person from the voice of a failing trader. Enjoy!

1) Don’t take the time to properly educate with Professionals 

I’m different and smart.

I’ve watched YouTube for hours and read a couple of books, so that should be enough. There’s lots of traders on Twitter I will follow for advice. 

I’ll save some money and not work with a mentor that teaches a proven system.

I’m special and I’ll be rich. l will just buy whatever stock people on Twitter are trading. 

2) Join a pump chatroom

Trading is simple I’ll just follow a “guru” so I don’t have to learn. I mean, I just saw on YouTube that someone traded a stock that went up 60% from the alert!

I’ll ride the waive of all his members buying and make easy money. Just push the green ‘BUY’ button when he does and then the ‘RED’ sell button when he says to as well! 

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Damn it! I can’t ever seem to buy at his alert price. I keep losing money when my guru banks thousands! 

3) Open up a Robinhood account 

Self-explanatory, easily the best day-trading broker out there! Who cares if their charting is horrendous, don’t have access to level 2 data or a good trading platform, and can only long stocks.

Who needs to short am I right?

Mobile is the future of trading and they are FREE!

Why pay commissions for a better day trading broker when I can have a very low end non-day trading broker for free?

4) Blame the market for losses

I just screamed at my computer and pounded my desk. Damn, my hand hurts from that! STUPID MARKET!

It’s not my fault I chased that stock up out of fear of missing out (FOMO).

No way am I analyzing my trades with a trading journal. That’s so boring and lame!

I’m posting on social media about how SLOW and BAD the markets are. That will make everything better. 

5) Be undisciplined and blow-up your account 

This stock looks so hot, and I’m going to bank! I don’t care if it’s up 85% already. 

Please God! Keep going up! PLEASE! 

Why did I buy so much? My whole account?! Ok, if I wait longer it has to go up. 

The Truth

Now I hope you had as much fun reading that as I did writing it. If it wasn’t fun for you, then you probably realized you do some of these things, and that is good! 

If you are new to trading you will probably do at least one of the things above. And that’s OK!

The important part is to recognize this and keep striving for improvement. 

New traders are often their own worst enemy. That is why we stress the important of seeking mentoring from professionals.

Luckily, the Fous4Team offers a complete 90 Day Mentoring Program. Regardless of your location or skill level we can help you succeed in trading our strategies. 

Want to learn more? Register for our webinar below:

Get our FREE stocks to trade watchlist. Updated daily with the best stocks to trade.

If you have so already, please email me directly with any questions cameron@fous4trading.com

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