Hello, today I will talk about some statistics as the manager of a fund firm looking for successful traders.
Factors causing traders to not pass challenge stages:
• Traders unable to manage their risks due to high spread rates.
• Traders who treat their accounts as gambling, thinking they can get a new one when their current one incurs a little loss.
• Traders who not decide on stop levels when opening a trade and change their minds during the trade.
• Traders who open many trades daily and breach their daily loss limits due to poor risk management.
• Traders who, psychologically defeated by the market, do not consider it a loss when their accounts return to the starting point from a profit.
• 83% of unsuccessful traders lose access to their accounts due to daily losses caused by violating system rules. Losing or gaining this much daily is far from being a consistent trader.
• More than 50% of users who lose because they do not adhere to the total decrease rule of their accounts, despite being funded trader, reach a profit of only 3% of their account size but cannot stop the gambler within and continue to trade.
In light of this data, if a solution is to be proposed:
To solve the spread issue in the challenges you take, choose
@BemFunding because it works with BYBIT and has the lowest spread in the world for prop trading firms in the crypto market.
Regarding the cause of daily losses, greed and impatience are entirely instinctual triggers for people. These triggers cause explosions in your dopamine receptors. Gambling addiction is increasing worldwide, and recent scientific research shows it has surpassed drug addiction. When trading in financial markets, the amount of profit you see from your trades should not allow you to fantasize, just as the losses should not affect your life. In simpler terms, if you consider the concrete products you can obtain with the profit from a trade, you enter into a gamble because it allows you to imagine beyond numbers, which triggers the dopamine receptors I mentioned earlier.
People always want more, but if you make numbers tangible in financial markets, they will take more from you. These are recommendations from a trader who has earned a living from financial markets, integrated with real data.
per aspera ad astra