The story of Shuvo. Every morning he sits down to trade with one goal - to make a profit of 500 Taka today. But by the end of the month, his account is empty. Despite numerous attempts, he cannot understand why this is happening!
Like him, 98% of traders fail. The reason is not that trading is hard, but rather they chase the wrong thing. They run after profits, while a professional trader runs after survival.
If you trade with the obsession of making 500 Taka every day, remember, the market will eat you alive. Because this dopamine addiction forces you to make wrong decisions. A small win pushes you towards bigger risks, and a large loss turns you into a beggar on the street.
However, professionals are different. For them, money comes last. Their main focus is on three aspects:
1. Execution: Follow the rules of trading. Create a specific strategy and blindly follow it.
2. Risk Management: Determine beforehand how much risk you will take in each trade. Do not take excessive risks out of greed.
3. Survival: The most emphasis is placed on surviving in the market. Because, those who survive will one day profit.
Traders cannot accept this harsh truth. They want to get rich quickly, but forget that trading is a marathon, not a sprint.
So, will you just chase profits, or will you try to survive like a professional by following the rules?