Reblog: Ten Signs You Are Probably A Terrible Trader

Over 90% over traders will end up losing money in the stock market. Chances are if you are reading this you are probably loser in the Market. In order to encourage you to quit before you lose all your money, I created a list below to make you realize you are terrible at trading and should probably find another dream to pursue.

You follow “professional” traders on twitter. The truth is many on twitter are complete phonies and have built a fake trading persona to end up selling you something in the end. More on this can be found on my guide on how to identify fraud traders.
You look at inspirational quotes or quotes given by “famous” traders as part of your trading regimen. This is non-sense, this won’t help you.
You assume psychology is a major part of trading, much more than an actual system. As such, you constantly remind yourself that you lost money in your last trade because of psychological mistakes and thus you refer to #2 on the list to regain focus (stupid trading quotes). If psychology was such a big part the simple solution would be to write programs that would trade for you (this isn’t a money maker). The truth is, many “professional” traders instill that psychology is big so that they can sell you their products for improving your “weak” psychology. Just to be clear I am sure most of you lack discipline, but even with discipline you still would lose money.
You watch CNBC or look at mainstream media for advice on trading the Market. News flash, journalists and people who write articles are unlikely to understand the exceedingly complex and random forces that are the Market.
You think the more time you put into the Market will directly result in actual profits. No, this is not true, again this is false information given by “professional” traders to up their winning persona so that in the end they can sell you something. If indeed one has developed a winning system, it does not require hours of looking at charts on Friday night while your wife gets dressed up before you guys go out. It’s done with programs and scripts scanning the markets which takes seconds a day (after the initial work done to develop a winning edge..this will likely never happen btw).
You buy a lot of trading books and software. Information given from trading books or software at one point may of had profitable information. However, once that information is public and it’s knowledge is known by many, it is unlikely to yield any sort of edge in the Markets. Hence, a reminder if you have something truly profitable you would make it a secret.
You subscribe to a trading service in 2017. By 2015 all of you should have learned all these services are all bogus scams. If you want an elaborate explanation read more here.
You trade options. Options is gambling. It always gives the person who sells the options a massive edge.
You hindsight trade. If you do this, you have no business even owning a stock trading account. Should of, could of, and would of is not a winning strategy! It’s a strategy for the fastest way you can lose your house to the bank!
Finally, your account continually goes to $0. Take a hint. Quit.