Recent volatility

I’ve been asked about the recent market volatility and what causes retail traders to loose money. Here are four reasons: 1-Fear of Failure (FOF) ... causes us to not predefine our risk and hold a loosing position longer than necessary. 2-Fear of Missing Out (FOMO) ... is the emotion responsible for chasing trades and late entries. 3-Complacency... is why we don’t do our homework to pre-define a trade entry, management, and exit plan. 4-Discipline ... to follow our plan for each open position. The first step to improving our trading / investing is to ask every day if any of these emotions or behaviors exist. If they do, address them quickly because retail traders have no risk management department to keep them from destroying their account.