![\"\"](\"http:\/\/www.t3live.com\/blog\/wp-content\/uploads\/2017\/07\/what-do-now-1024x858.png\")
Do you want to fail as a trader?<\/p>\nDo you want to fail as a trader?<\/p>\n
Do you want to miss your next mortgage payment?<\/p>\n
Or pull your daughter out of\u00a0private school because you can't make tuition next month?<\/p>\n
Well you're in luck! Because we've got 7 surefire tips for failing as a trader!<\/p>\n
Just kidding… sort of.<\/p>\n
We've worked with thousands of traders over the years.<\/p>\n
The best of them ended up with 6 or even 7-figure incomes.<\/p>\n
But many\u00a0flamed out. They end up holding bad trades too long or doubling down on losers.<\/p>\n
Even worse — we've seen traders that spent more time on Twitter and Instagram\u00a0than on their trading platforms!<\/p>\n
9 times out of 10, it's easy to spot a failing trader.<\/p>\n
So we're laying out 7 habits of unsuccessful traders so you can avoid them.<\/p>\n
How many of these apply to you?<\/p>\n
7. Don\u2019t Develop a Daily Routine<\/b><\/p>\n
Successful people <\/span>don't have time to figure out what to do next.<\/p>\n That's why they use routines and checklists.<\/p>\n Why?<\/p>\n Because if you're asking yourself “what should I do now?,” you are wasting time and energy.<\/p>\n If you have a daily trading routine, you'll accomplish all your key tasks in less time, which will actually frees you up to be more flexible\u00a0and creative.<\/p>\n 6. Don\u2019t Learn New Things<\/b><\/p>\n Dinosaurs go extinct.<\/span><\/p>\n And so do traders that refuse to learn and adapt.<\/p>\n Chasing novelties can be very dangerous.<\/p>\n But if you want to succeed, you must keep yourself up to date.<\/p>\n Always strive to understand what's working in the market right now.<\/p>\n And explore new tactics that may work with your current strategy.<\/p>\n You don't want to wake up one day and discover that everything you know is useless.<\/p>\n 5. Don\u2019t Analyze Your Results<\/b><\/p>\n A wise man once said “you can\u2019t manage what you don\u2019t measure.”<\/span><\/p>\n Traders have bad memories.<\/p>\n So it's important to carefully go through examine your trading results to see exactly what you're doing right, and what you're doing wrong.<\/p>\n Maybe you think you're great at trading Tesla<\/strong> (TSLA)… but does a detailed P&L back you up?<\/p>\n And who knows? You may find out that you have some strengths you didn't know about.<\/p>\n You may just be a dynamite gold trader, or a genius on the short side.<\/p>\n Just let the numbers do the talking.<\/p>\n 4. Don\u2019t Talk to\u00a0Other Traders<\/b><\/p>\n The biggest myth on Wall Street is that great traders are lone wolves<\/a><\/strong><\/span>, getting rich on instinct and talent alone.<\/p>\n In reality, most profitable traders join a pack.<\/p>\n Because there is power in numbers.<\/p>\n You may have 3 good trading ideas.<\/p>\n But if you\u2019ve got a buddy with 3 more ideas, you\u2019re up to 6.<\/p>\n Add a 3rd friend and you\u2019ve got 9.<\/p>\n And it\u2019s not just trade ideas.<\/p>\n We\u2019re talking trading techniques, news flow, and support when things get tough.<\/p>\n 3. Don\u2019t Do Your Own Homework<\/b><\/p>\n Newsletter, trading rooms, and trade idea generation services can be tremendously valuable.<\/p>\n But you must also do\u00a0your own homework.<\/p>\n For example, if you see a stock make a big move, study it and create your own case study.<\/p>\n Or, go back to a major historical event like the 1987 market crash or the 2008-2009 financial crisis and study the price action.<\/p>\n You can obviously learn a lot from other people's summaries and explanations.<\/p>\n But if you want to build a truly valuable knowledge base, roll up your sleeves, and do the work yourself.<\/p>\n You'll be shocked at how much you learn.<\/p>\n 2. Don\u2019t Learn an Actual Strategy<\/b><\/p>\n Individual tactics are great.<\/p>\n And you can learn thousands of them for free.<\/p>\n But if you want to actually create wealth through trading, you need a complete strategy.<\/p>\n There are 2 major problems\u00a0problem with just learning random tactics.<\/p>\n First, it's hard to know who to trust. And second, it's hard to know which tactics work\u00a0together.<\/p>\n So instead of focusing on bright shiny objects<\/a><\/strong><\/span>, learn a real trading strategy<\/a><\/strong><\/span> that includes technical analysis, entry\/exit parameters, and risk management.<\/p>\n And THEN start exploring\u00a0additional tactics that may work with your evolving trading style.<\/p>\n 1. Don\u2019t Pay the Price for Success<\/b><\/p>\n You may lose money and waste time in learning to trade.\u00a0<\/span><\/p>\n That's the price of success, and you have to\u00a0pay it.<\/p>\n If you start your trading adventure with a legitimate strategy with specific risk-reward parameters<\/a><\/strong><\/span>, you can keep a lid on your losses.<\/p>\n However, you must be willing to put in the time.<\/p>\n If you haven't paid that particular price yet… it's time to ask yourself why.<\/p>\n Ready to take your trading seriously?<\/p>\n Check out:<\/strong><\/p>\n Trading the Pristine Method Home Study Program<\/a><\/strong><\/span><\/p>\n