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off_switch
 

There are two different issues that I have seen traders face:

#1 Not knowing how to turn off their trading. Obsessing about every trade and watching every tick even when no value is added. Tying their self worth to their trading results. A trader has to have an ‘off’ switch along with their “on” switch to prevent obsessing too much, working too hard, neglecting their health and mental well being and leading to their eventual burn out. Trading is also full of many tragic suicide stories due to a trader not having a balanced life portfolio and allowing losing streaks in trading leading to a loss of hope in their own life. Trading for a living is an especially dangerous endeavor when it is done with no other source of income or safety net from savings. Trading is one of the most rewarding and life changing endeavors when done as part of a balanced life but it is not the purpose of anyone’s. Hopefully trading is done at the right time, with the right amount of capital for the right reason so it is a healthy and positive part of your life and not an unhealthy pursuit.

#2 Most of the 90% of losing traders never really flipped the on switch for their trading. They wanted easy money, but not the work. They dabbled, they asked a few questions but never did the work needed. The biggest obstacle that they can not even understand is that they do not know enough about trading to be aware of their own ignorance and the work involved to become proficient at trading. There is no sure fire system that is always profitable, no Holy Grail, no secrets, just wins and losses. Risk management, discipline, perseverance, and system development is what leads to trading profits. The problem is that getting there is far more effort and work than the majority is willing to put into it. Only by turning on a passion for trading and keeping your eyes fixed on your end goal will usually get you their if you do not lose hope that you can bridge the gap from wanting to doing with the right amount of concentrated and correct action. But you have to turn your trading switch ‘on’ first.