Pierre A Pienaar posted a new article “7 Major Factors Why Traders Fail”. We see the global markets moving up and down; when China sneezes the world catches a cold, and people losing a lot of money, although there are some very smart traders making a lot of money. I thought that you should take a breather, not too long, and see where you failed or could have done better

1. Resources for the Independent Trader Blog
7 Major Factors Why Traders Fail
“The best way to escape from a problem is to solve it.” ~ Alan
Saporta
Dear Reader,
We see the global markets moving up and down; when China sneezes the world catches
a cold, and people losing a lot of money, although there are some very smart traders
making a lot of money. I thought that you should take a breather, not too long, and see
where you failed or could have done better.
Research indicates that over 89% of traders will lose all their capital in the first year and
many more will be forced to 7 factors are the main culprits. I have been there, and I
believe if you fail, recognise your mistakes and move on, or don’t trade at all. Leave it to
professionals, but since you are a professional and wish to kick-start your profitable
trading, or you wish to become a professional trader. It’s only concise, and the idea is to
stop and and look and then lets move to the positives.

2. 1. Not Sticking to a Strategy - Most people think that there's always a better strategy
so they jump from one strategy to another in the quest for the elusive 'holy grail.' Just
pick one strategy, learn everything about what makes that strategy work and master it
before moving on.
2. No Support or Mentor - Almost every well-known, successful trading professional
has had the benefit of a mentor (even Warren Buffet credits Ben Graham as his mentor!).
A good mentor speeds up the learning process, makes themselves personally available
to answer your questions and will provide you with strategies that will reduce your
chance of failure.
3. Wrong Strategy - Just picking a strategy isn't enough. A winning strategy must
have a high probability, be time-tested and proven to work in all market conditions (up,
down and sideways). I would like to include fear here as well.
4. The Fear Factor - People with fear react out of their “normal” strategy, and makes
irrational decisions. Losses will be even more if their current strategy is not probable.
5. Time and Effort - Many new traders quickly scan through the rules of a strategy and
instantly begin trading (Compulsive trading, like gambling). You've got to earn your
right to trade. In other words, take the time to understand the strategy, ask questions
and paper-trade before putting your hard earned money at risk. Even good traders are
victimised into lending their time and money in greedy transactions. Consequently, once
a trader has done this he gradually acquires a vested interest in his own errors and even
though he finds more and more aspects of this kind of trade which run counter to his
sensibilities, he tends to brush them aside rather than swallow his pride, and admit he
made an original mistake in judgement. Most humans are like that.
6. Risking Too Much – This is one of the mostly the biggest sin. Traders is prone to too
much per trade is the most common form of financial disaster. However, the difference
between a rookie trader and a professional trader can be seen in their money
management and position sizing strategy. Both people can trade the same strategy, but
the one with the best money management will increase their wealth the fastest.
7. The Greed Factor – It falls in the same as above, but I want to add this as a
“Mindset Problem”. This is where get even very good traders falling into the trap of
making money fast. You’ll also get the Madoff’s of this world, and the Rogue Traders in
large corporations. They leverage huge contracts and then the markets change against
them, then there is chaos, crisis, and major after-shocks occurring taking centre stage.
So if you're still struggling to be successful, ask yourself just how many of these
mistakes you're still making?
Only, when you return to be a disciplined trader, doesn’t matter if you’re a stocks, ETF’s,
options, futures or Forex trader, you could be more successful. All “good traders” have a
trading plan that is diversified in the various Asset Classes, and with intelligent research,
knowledge, support, and actions ensure that risks are minimised and profits are higher.
Don’t forget your coffee below, share with friends, and get back to me.
Thanks for reading
P.S. Next Article: What Do All Super Traders Have in Common? George Soros
Made a Killing Last Week. Why?

3. Remember, Trade smart, not with Greed
Pierre A Pienaar
Resources for the Independent Trader Blog
http://sulia.com/pierreapienaar/
Pierre A Pienaar retired in 2011 from business.
I would like to share my passion, my interests, knowledge & experiences
in Forex, Options, Gold Investments, Futures, Stocks, Binary Options,
Economics, Stamp Collection, Sports, Gardening, Reading, Photography,
and Politics
Substantial risk of loss
There is a substantial risk of loss of stocks, forex, commodities, futures, options,
and foreign equities are substantial.
You should therefore carefully consider whether such trading is suitable for you
in light of your financial condition. You should read, understand, and consider

4. the Risk Disclosure Statement that is provided by your broker before you
consider trading.