Back in 2014/15 where digital currency trading started to gain popularity among the youth in Tanzania, most people thought this is it. The industry lured people with unrealistic views and expectations and somehow lots of people got scammed by service providers others scammed themselves because of lacking the right knowledge. The lesson here is NEVER PUT IN YOUR MONEY ON INVESTMENTS YOU DON’T UNDERSTAND ( usiwekeze kwenye mambo usioyaelewa). There is no way you can get rich overnight. Overnight success may actually take you 10-15 years and to many people, this is not the information they want to hear. Check out my other lesson on Financial Freedom and How to invest your money wisely.
The trading business is just like any other business, just because you can sit down on a computer and press BUY or SELL and make money then it should be your one-way ticket to financial freedom and success. Check out my other lesson on What Really Happens When you press BUY or Sell Button in (MT4/5) This is a skill that takes years of practice and through that, a trader develops an experience which is needed for success in this business. I have been trading for the past 4.7 years now and my trading has improved tremendously compared to my early times where I blew numerous accounts just to chase financial freedom which was not there.
I came to realize that I had a wrong approach and in order to get the success you have to be ready to eat dust and grind your way up. Most traders who approach me via social media platforms ask me questions that clearly shows they want success the next morning. “Bro how can I double my $100 account, Bro how can I get $1000 from $50 etc” I don’t get surprised because I know they are misinformed about the industry and this can be costly. It can drag your finances all the way down to the ground.
Why Traders Are Still Losing Money Upto Date
1. Lack of Purpose
To many people who find themselves in the trading business actually, don’t now know their purpose. They don’t know why they trade. When you ask them most will say they want to make money and this very wrong to be your primary goal. These people can’t afford to lose money while it’s okay to take a few losses but since your goal is to make money, Each loser inflicts anger in you and you keep fighting back which results into bigger losses.
Endelea Kujifunza kwa undani sababu hizi kwenye Tovuti yetu ya PROFXTIGERS.COM kutana na Masomo mbalimbali kuhusu biashara ya Forex kwa undani.
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