At the beginning of trading, most people want a trade that looks like this: after I buy in, the market goes up, I don't look back and it reaches my take profit level, and then after hitting the take profit, the market stops moving and starts to retrace.
As soon as there is anything inconsistent with my expectations, I start to get tangled up. Worry. Regret.
For example, if the market doesn't rise after buying in, they become scared and close their position before hitting the stop-loss level. After closing, the market continues to rise, so they chase it, only for the market to start retracing again and they close their position. After closing, the market rises again, and they end up repeatedly hitting their stop-loss.
Or they buy in and the market starts to rise, feeling very happy, but then the market stops rising halfway and starts to consolidate. Unable to wait, they close their position, and after closing, the market adjusts and directly reaches the target position. It's infuriating.
Or they set a small take profit level, telling themselves before entering that they will be satisfied when it reaches that level. As a result, after the market hits their take profit, it moves hundreds of points without looking back, and then they start to regret, 'Oh no, I've missed out on big profits.'
In various ways like this, we find that at the beginning of trading, most people are trading with fantasies, wanting the most perfect, most difficult market at their worst abilities.
Therefore, the fundamental reason most traders fail is a misunderstanding of themselves and the market.
