One Must Avoid These 6 Mistakes to Make Money in the Stock Market!
Updated: Aug 30, 2021
Make Money: Don’t Lose Your Hard-Earned Money!
“Over 90% of the traders lose money in the stock market” — this is the first statement I heard when I started learning to trade a decade back. I am sure most of the new traders will listen to this statement many times from pro-traders.
But I have not seen any research paper that proves this number right. However, I feel the actual figure is much higher, with my experience being a trader and mentor.
Instead of wasting time over this debate, I would like to list a few significant reasons why people lose money in the market. I honestly admit that I have committed all the mistakes personally, lost money, and learned a lesson not to commit these mistakes to stay alive in the market.
Trading based on NEWS
Hopping across Different Strategies
Bad Money Management
Dealing with Penny Stocks
Averaging Down Strategy
Many people consider trading is another form of gambling and take their trades without any logical reasons. In one of his articles, world-famous Trader Ed Seykota said, ‘Everybody gets what they want out of the Market.’
If a person looks for thrill or excitement, I am sure the market will provide an enormous joy and excitement but at a HUGE COST!
My advice is to try some other method to satisfy your mind if you fall into this category.