A lot of struggling traders will try to switch from trading stocks to trading another asset class. They do this because they feel that if they cannot successfully trade stocks, they may have better luck with trading forex, options, or futures. Unfortunately, they find that they can lose just as much money or even more by trading those assets instead of stocks.
I do want to mention that successful traders and indeed the most successful students of Online Trading Academy, do trade multiple assets. But the choice to trade those other assets came from a position of strength and not one of desperation. Trading multiple assets is a great way to properly take advantage of market moves and even help predict those moves.
Pain is a huge motivator. In fact, pain of losing money in the markets often motivates people to enroll in our Professional Trader Course. When a pained trader tries to switch asset classes without identifying the source of the problem, they are doomed to repeat the same mistakes.
Once a trader can identify the source of their pain, (i.e, not being able to identify supply or demand zones properly), then they can… Continue Reading
