Why traders fail...

Discussion in 'Trading' started by Port1385, Aug 31, 2008.

  1. I have managed people in my past employment history and can say that the most successful workers are those who develop a routine that they aggressively maintain each day.

    Unchanging routine is great for working in the regular job world. However, when things change in that same job world then most workers simply cannot adapt. Some people say that older workers are most vulernable to not deailing with change, but I have seen guys in their 60s able to adapt to changing procedures and complex computer programs.

    Some traders are successful for a time using a certain routine that they developed. Sometimes this routine works for a time until it doesnt. When the trend finally changes, then these traders usually insist on using their old routine and will not change.

    Traders fail because they cannot adapt to the changing world. Master traders during the 90s found themselves failing throughout the 2000-2002 bear market as they had no idea how to trade through that.

    Unchanging aggressive routine is a trader's biggest pitfall...