Why New Traders Fail so Often

Why new traders fail so often

A common problem when it comes down to making money trading is that new traders find it hard to understand the concept of trading at all. They are ill prepared and ill informed… this is the start of why new traders fail so often.

It’s understandable really, if you consider the high octane films about trading and the way the press draw the picture of professional traders ,it’s no wonder that new traders are delusional.

Why New Traders Fail

New traders think that the royal road to riches as a trader is multi screen set ups, intense trading sessions, Ferrari’s and hookers… OK forget the Ferrari’s. But seriously, many new traders want to be the Wolf of Wall Street.

Trading just isn’t like that at all in reality.

If you are new to trading then I can safely say this, nothing changes the day you start trading.

There’s no transition to a new you. You will not become Wolfy overnight.

You see, once you do become a success at trading and you make consistent money, you’ll hit a limit. The limit is how much of the ebb and flow of money won and lost you can handle.

How Much Can You Handle?

You wont make millions a year trading £2 a point… but you might do trading £100 a point. The reality check will come way before that £100 a point stake though. At some stage and often way before even £20 a point you’ll reach your trading threshold.

You might be able to stomach losing £3000 in a day when the Dow turns against you, but can you handle losing £30000? Can you even imagine it?

Most traders never get off the ground because they lose money from the start and don’t like it. I mean, who does? But they just can’t deal with it.

They lose money because the system the were using didn’t work. It had nothing to do with them staking to much, not following the rules or not closing a losing trade.

why new traders fail

More often than not, new traders lose their confidence. They didn’t cut their losses soon enough and then hoped that their losing trade was going to turn round… It didn’t, so they take a bigger loss to stop the unbearable pain… pain that is being caused by watching their money getting mercilessly wiped out of their accounts and straight into someone else’s.

After the pain stops, and their wounds all but healed… they are left frightened to lose again. Now their trading bank is running on scarred money. It’s all but over for many.

These are just some of the common reasons new traders fail so often.

What Winning Traders Have

Many traders that make it to the absolute top have a hidden weapon… this is that they have built up their wealth from a standstill and compounded everything they made, they have discipline, unwavering courage and the knowing that they will come out on top.

These weapons combine and make one awesome weapon… the awesome weapon is a winner… or in our story, a trader with a winning attitude and system.

The fact that only 6% of traders make any money now seems reasonable, it’s a tough mental challenge to boot is trading.

But the 6% doesn’t tell the full story. Some of those 6% might make £10 a year whilst a few others make millions. Apparently only 1% make big money.

It’s a dog eat dog game is trading.

But You Can Do It

I’m going to try and address these issues that losing traders have in my new trading system.

As much as I’ll be teaching you a system that makes money, I’ll teach you the truths about you and your mentality as a trader. And I’ll point out the things not to do and what you should do along the way. This will hopefully help you master trading, fixed odds and spread betting.

One of the key areas to becoming a success at trading is starting small, with small banks. You then build the bank by doing the same thing that works, over and over again.

It’s not rocket science but it sure makes trading easier. Do what works, again and again

Here’s a video about trading binary options. You can start small with binary options, a £100 or so is all you need.

You can then reinvest profits into longer term trades over at IG Index. Plus you get a wider range of markets to trade at IG so you can spread your risk.

Binary Trading

Binary trading

If you have never tried or considered Binary Trading, then maybe it’s about time you should… but you need to take some caution before you get started.

Binary trading offers a great opportunity to start trading with smaller starting banks and the ability to know exactly how much you stand to win or lose.

Plus, you have access to a great range of currencies, indices and now even individual shares to trade. It’s also very easy to open an account.

Binary Trading Systems

I have mentioned that I have been working diligently over the last 18 months or so trying to find a day trading system that worked that I could offer to my blog readers.

This was a painful and time consuming experience.

All the systems that I reviewed and looked into, had some sort of unreasonable trading condition that I was not keen on.

These conditions ranged from the price of the system and ludicrous staking plans to huge starting banks and just utter garbage… Oh, and everything else in the middle.

Another thing that I often thought was that many of these systems had been designed by marketers or by the binary options companies themselves.

Call me paranoid if you like, but there’s a good reason that this might have been the case in some instances.

Binary trading is worth Billions… and it is not regulated like other trading and betting platforms.

This means that it is and can be open to manipulation. I don’t mean in the movement of prices though. Rather more like how the operators get new clients to their websites.

Binary companies know the profitability in creating “how to guides” to sell and profit from. But they [binary companies] create products with all the whistles, sales pages, bonuses and so on and then give the systems away. Obviously then they can direct buyers of their systems/products to their own websites to start trading.

Regardless of whether the systems they are offering made money long term or not, the whole process is win win for them.

Once customers are on there site testing things out, the money’s in the bank for the binary operators.

I am 100% sure I have seen this going on.

Everything Considered

When considering these issues, it seemed reasonable to approach this conundrum by creating a system from scratch that could then be traded via binary options with a reputable and trusted operator.

This is what I have done.

Profitable Trading Systems

As you will know from reading the blog, I have only ever recommended products to you that I have tested myself with real money.

These have been, Vince Stanzione’s Trading Course, Bonus bagging and Little acorns.

That is all I have recommended to you in over 6 years of blogging. But… all of those systems and courses have proven to be profitable long term.

As you can see, I have been very selective.

Binary trading system

My Binary Trading System

I must say that I’m very proud of the system that I have created. It is incredibly simple to use and amazingly accurate. You can start trading with £50 or £100 and its also pretty stress free… in fact there is really no stress at all in trading my system.

I’ll be keeping you posted of the launch date and soon I’ll add some screen shots and stats to the blog to show you what’s possible.

All readers of the blog will get a huge discount off the purchase price. So make sure that you are on the mailing list as you wont get the discount otherwise. I will only run the discount for a couple of weeks and then put the price up to normal.

Until then, open a binary account and get used to the concept of trading binary options. I am totally recommending Binary.com they can be trusted and I know that they are owned by trusted sources.

You can set up a demo account to get an idea of how it all works. It’s all very simple though.

Subscription Service

I have also considered not selling the actual binary trading system and then just sending alerts via a subscription service.

This may be an option, as then it reduces errors that you could make, but also the amount of time I may need to be giving support.

Another thing is that if I offer an alert service you can then just log straight into to your binary account and make the trade… if you have a smart phone or mobile device you can trade on the go.

Financial Spread Betting 2017

Financial spread betting 2017

What’s in store for 2017

My trading results with Vince Stanzione in 2016 were fantastic. But I think that 2017 will be even better.

There were a couple of larger losses that I avoided last year. These were on Brexit and the US elections. Even though I traded less in 2016 I actually made more.

Also, although my profits were relatively steady during most of the year, I did make a lot of points in the last 6/8 weeks of the year. This was a great boost.

I am unable to share the trades that Vince advises me on as I’m part of a private members group and this information is very restricted, but the amount of points profit you can make a year from all the various systems and strategies that Vince uses is phenomenal.

Plus, if you consider that I am still spread betting most positions, that’s pretty awesome.

Many of the opportunities that Vince highlights can actually be bought as shares. This means that you own part of whatever it may be and you can receive yearly dividends as a bonus. So, making money on the shares that you are holding makes even more after the dividends.

I don’t trade everything that Vince recommends… there are just too many for my bank to support. And I do actually have my own filters that I apply to his suggestions.

These filters that I use normally revolve around, Vince’s expected time to be in the position, stake sizes, volatility and so on.

Spread betting

Financial Spread Betting 2017

Then there are other systems that I use that Vince has taught, that basically pay a good yearly bonus or very worst case more or less evens. These are just very low risk opportunities that are well worth taking a punt on each year.

Vince also spots some great sector opportunities. Most of these can be traded by ETFs. This gives you exposure in the markets, without being strapped to a single share. ETFs are becoming more and more of a trader’s staple.

Overall, I keep a balanced portfolio by following someone that clearly know what they are doing.

Even if Vince were to vanish in the morning, I’d still be able to make trading pay because what I have learned over the years are strategies that will continue to perform over the long term.

Keeping my trading stakes and bank controlled with a balanced portfolio is key to profitable long term trading.

You can read some reviews on Vince’s system here.

So, I think 2017 is going to be a fantastic year to trade. No Brexit to consider or elections hanging over us. I can feel this will be a great trading year.

Change Your Life in 2017

Happy New Year to you all… may 2017 deliver what you wish for and be full of what you just have to have.

I heard that that saying [what you just have to have] at the start of a motivational compilation that I found just before Christmas.

Good idea to put it at the front of the video as it got me hooked into watching more… and I’m glad I did as I found it very inspirational.

The video is in this post for you to watch.

Change Your Life in 2017

Before that though, I want to remind everyone that if you really want to make a change to your life this year that you really can do it… but only if you really want it bad enough.

I often get criticised for staying positive. Although I always try to understand the logic behind such comments like… Oh your life is so great, yeah but you have time to go to the gym, but you earn more than me… the list goes on.

The thing is though, I’m not immune to failure, it’s that I just deal with adversity differently.

And then from adversity, I find a solution to do the things that I want to do.

It’s not all about Money

Most people think that a higher level of income means a higher level of happiness. They think that is the key to change your life.

But that is not at all how it is in reality.

Financial success is but a small part of the overall picture.

There is no way on earth that money makes me happier than seeing my daughter smile, laugh and play.

I’m so grateful for all the small things in life that money can’t buy.

I’m focused on making money online yes, but I’m focused on my family, diet and personal development far more.

Making money and opportunities just seem to come my way, then when they arrive it’s down to me to pursue them and put them to work.

We all have Misfortune and Challenges

Change your life

I have had more than my fair share of misfortune and challenges over these last years, believe me! But whatever challenges I or you face, moving on from them is the key to long term success.

But most people find an excuse to blame for their own lack of desire.

Injury, redundancy, litigations, divorce, maintenance, cheating partners, lost loved ones, bankruptcy, depression, family issues, health issues, insomnia, stress, mortgage arrears, not enough time, not enough money, fear…  the list goes on and on.

Yes, some of these situations are genuinely terrible, but most can be overcome.

There are more people with far greater problems than most of us that make it further than many of us ever will… Mentally, physically and financially.

Not because they are better than us or smarter than us. It’s because they just have to have what they want.

There’s no stopping these people, if they die in their pursuit of their goals then that’s a risk they’re going to take.

This year 2017, make it yours… no self doubt and excuses. If you want it, go and get it.

If you really want to make money trading, you will. If others can you can. But don’t give up until it’s yours.

Enjoy the video.