 So why do 90% of traders fail? We're going to be talking about that in today's video. So I hope you guys enjoy it. Let's get right into it. So the first reason why you're failing at trading is because of your lack of patience, guys. A lot of people out there, beginners especially, they think the stock market is a get rich quick scheme. They think they can just hop in the stock market with $1,000, $2,000, maybe $5,000, $10,000, and they think they can just flip this money into a million dollars in a year. Boom, done, retired, beaches, palm trees, pina coladas and mojitos. That's not how it is, guys. That is not how it is. If you lack patience, you're not going to make it in this game of stock market trading. Why do you need patience? Because I guarantee you once you start trading and you're a beginner, you are going to experience failures. And what does patience do? Well, it pushes you to endure these failures and to continue to pursue the craft which is trading. So be patient, guys. Patience is key. If it's not working within the month or two that you start, that's okay. If you took losses, your first couple of trades, your first month or two, that's okay because there's a huge learning curve. Just stick to it, keep trading, keep at it, and you'll get better. Another big contributing factor, two people failing in trading, 90% of people starts with this E letter right here. And yes, that is emotions, guys. We have fear of missing out right here, greed, and the lack of a plan. So emotions are the biggest thing with trading, especially with people just starting out. So we have fear of missing out, meaning that you see a stock running up. Let's say it's already up 5%, 6%. Let's say, for example, a stock just reported earnings, right? The stock is flying up 5%, 6%, 7%. This is when the fear of missing out starts to kick in when you're like, okay, crap. Should I hop into the stock right now? I'm scared, you know, I'm going to miss out. You know, is it going to go up another 5%, 10% where I'm going to miss out on some gains? And then you hop into that stock due to fear of missing out. And lo and behold, that stock starts to fall down and you lose your money like that. So that's the number one emotion that you have to deal with is FOMO, as it's called in the trading community, fear of missing out. And another big one here is greed, guys. Greed is huge. You have to have a plan of how much percent profit you want to take on every single trade, right? Let's say, for example, I'm personally in Coca-Cola at the time that I'm recording this video. I have a plan of taking about a 3%, 4% profit over the next couple of weeks if this trade ends up going my way. Well, greed would be if you didn't have a goal target and let's say you want to get 10%, 15%, you want to get as much possible profit as you can. Well, that is not how you're going to become consistent in the stock market because you can't aim for the home run trade every single time that you're trading, guys. That's not how it works. Greed will kill you because let's say you're up 10%, 15% on a stock and you want more. You want more. You want 20% profit out of that stock. And let's say the stock slowly starts to tank. It goes to 7%. You're like, no, no, come back, come back, come back. And then 5%, 2%, all of a sudden, you could have taken your profits at 10%, 15%, but greed got the best of you, right? Greed got the best of you and you're ending up with 2% profit when you could have just taken your profits at 10%, 15% when the stock was all the way up. So emotions, guys, that stems into my third point here, which is the lack of a plan which kind of stems into the greed portion. If you have a plan, guys, if you have, let's say, a 2% target on a stock, that will eliminate the greed because once it hits 2%, you'll have a limit sell order or you sell manually with a market order and boom, you take your profits and you're done with it, guys. And let's talk more about lack of a plan here. So not having a plan when you're trading stocks will absolutely be the death of you, especially when you're starting out trading, guys. You need to understand whenever you're putting your hard-earned money into a position, you have to know when am I selling this stock? When do I potentially plan on adding more money to this stock? When am I going to cut my losses? How am I going to mitigate my risk when I'm trading this stock, guys? A lot of people out there, you know, they hop blindly into stocks. Trust me, I get DMs all the time on Discord, you know, on Instagram, on YouTube, even on the comment section. People are like, when should I buy this stock, Stas? When should I sell this stock? Should I cut my losses right now? You know, a lot of people just hop in blindly and this leads to 90% of people failing. If you have a goal of cutting your losses at 2%, taking a 5% profit on this position, and you're consistent with your set of rules and your strategies, you are way, way more likely to be successful because trust me, guys, let's say you have $5,000. Let's just say $10,000. Let's say you have $10,000 and you hop into a leveraged ETF, for example. That's really, really volatile, right? Let's say you're up 5% on your position and you hopped into that position without even knowing what you're going to do. You have no idea. Well, what are you going to do there, guys? This is not a situation that you want to be in. You don't want to rely on other people asking other people, should I sell now? Is it a good time to buy more? Should I get rid of this? Should I do that? Should I do this? You have to have your own devised plan. So when you're up 5%, if you already had the plan of selling at 5%, you're done, right? Take your profits and you're done. But let's say you have $10,000. You have a 2% stop loss set. It triggers that stop loss and then you're done. You move on to the next trade. Potentially you can trade that same stock if it does show some better upside to it. And that is just why you need a plan, guys. Just understand where you're going to cut your losses, where you're going to add more money, where you're going to sell the stock, how much money you want to put in. Let's say if you're swing trading, right? I personally do a lot of swing trading and I scale into my positions typically with about 15%, 20%, 30% sometimes with my goal position at first. So if at first, guys, the stock doesn't go my way, let's say I put 15% in and it slowly starts to go down. Let's say it triggers my 2% stop loss. I wouldn't have lost as much money as if I put in my whole entire goal position. Let's say my whole entire goal position in this case is $10,000. I put that right off the bat. I would lose more money than I would have lost if I put 20% of my position, which in that case with the same example would be $2,000. So it's all about planning things out, strategizing. And this really does take some time to really nail down your own strategy and what your risk tolerance is. And that's just really important, guys, when it comes to trading. And devising a plan like this will really help you avoid being that 90% statistic that fails in the stock market when it comes to trading. So the final thing I want to talk about today, contributing to 90% of people failing in the stock market, is A, trading with too much money, trading with more than you're willing to lose. And B, trading too much, trading too often, whether that be day trading every single day, multiple times a day. Even if you're under the PDT rule, there are still platforms out there like YouStockTrade, for example, where you can trade unlimited amount of times per day because that particular platform YouStockTrade on a little tangent here, it's a peer-to-peer lending platform. Meaning you can trade as many times as you want because you're trading and exchanging shares with another person using YouStockTrade. There's no middleman there. But that's another story for a whole other video. But if you're in one of those situations and you're trading too much, this can absolutely lead to your failure because if you're continuously trading and trading and trading, there's going to be a point where you're just hopping in blindly. Like I mentioned earlier on in this video, and you're trading just for the sense of trading, right? And at this point, there's just no strategy behind it, guys. You're just blindly trading. And you're trading because you're just addicted to trading and you feel like you need to take a position. I need to take a position, but a lot of people don't understand. The best thing you can actually do sometimes is take no position at all, not to trade for the day at all. Sometimes this is the better return on investment because think about it. If you have $10,000, for example, what's better? Forcing 5-10 day trades in a day and potentially losing, let's say, 5% on the day, which would be $500 of $10,000 or just holding the cash, making 0% gain and keeping that $10,000. Obviously, guys, the second option is better because you're not losing money at all. You're not making money, but you're not losing money at all either, which is a very, very good thing. And trading more than you're willing to lose, guys, this will absolutely discourage you, especially if you do end up taking a big hit on a stock. Let's say you have $10,000, same exact example, and your whole entire net worth is $10,000. You don't want to trade with that entire $10,000. If you traded with that $10,000 and you took a 20% hit, you weren't following some of the other rules we were talking about earlier in this video. You didn't have a stop-loss. You didn't have a plan in place. And all of a sudden, you're down $2,000. You're down to $8,000. And that is extremely discouraging, right? That's extremely discouraging. And that will lead you to ultimately failing in the stock market to completely quitting the majority of people would quit at that point. But of course, if you have patience, like I said earlier in this video, although you should not be trading with your whole net worth anyway, you can probably push through that. But what I would recommend, guys, again, I am not a financial advisor by any means. Do your own research. But what I would recommend, let's say for example, you have $10,000. You should be trading with probably $500 of those dollars, maybe $1,000 if you're extremely, extremely risk-tolerant. This way, if you do lose half of that money, let's say for example, if you make a terrible trade, that won't discourage you too much and you'll still be able to push through and continue to learn the ropes of trading. So super important, guys, don't trade too much. Don't trade too much. Sometimes not trading at all is the best, best scenario. And don't trade your entire net worth. Trade a small portion of money that you are willing to lose. You're willing to take a dip on, you're willing to lose a small portion of because that is how you can be more encouraged to continue to trade and continue to learn the game here of stock market trading. So I hope you guys enjoyed this video on a couple of ways and reasons why 90% of people fail out there on the stock market. Sure, there's a bunch of other things that I didn't mention in this video, but these are the main points that I wanted to get across to you guys. So I hope you guys did enjoy this video. If you did, feel free to hit that like button. Consider subscribing if you did find value in today's video and hit that notification bell so you're notified every time that I do make a video. I make daily market updates throughout the week and trading updates, talking about what I'm personally trading as well as an overall market update on the SPX, the Dow, the NASDAQ and just a bunch of other stocks I'm personally watching and looking to trade. So hop onto the channel, guys. Join our community. Join our Discord group chat. Join our Facebook group 100% free. All of those are linked down below in the description box. I'll catch you guys in the next video. Hope you all have a great day. Peace out.