Traders always have a lot of questions about their trades, especially if they don't get the results they want. We also ask ourselves a lot of questions, and then use the answers to guide the next action, thinking that it is easier to achieve the goal. However, the vast majority of people ask the wrong questions, and the answers they produce are not only ineffective, they even hinder success.

01, trading should not set a stop loss?

This is the most frequently asked question in the major forums, and again, a very dangerous question. If a trader trades without a stop loss, tragedy is bound to happen. Behind a series of such problems, we find that traders often have the idea that without a stop loss, they can be more flexible in dealing with sudden market activity during trading. They believe that price movements will always reverse, and if they stay in a trade long enough, the market will eventually move in a favorable direction, so that they can always avoid losing money in the end.

This view is very wrong in every way, and you can't get a better deal by asking this question. It's important to acknowledge the loss and move on to the next trade. If a trader cannot handle a failed trade, then they are not fit to trade at all, and the market will eventually prove it. Stop losses are the most important tool a trader has, and if you don't use them and don't know how to handle losses, you will never become a better trader. Trust me!

Ask yourself these better questions:

Is my stop-loss order set at a level where the trend is too obvious?

Do my losing trades have anything in common? What lessons can I learn?

Is there a better way to cut your losses? I should try a different approach and evaluate the pros and cons of each.

If the prices keep going in the wrong direction, I should probably come in late

How to protect your gains with a stop loss

02, Is the trade fair rigged?

This has a little to do with the previous question. Amateur traders often believe that brokers are betting against them, or that prices are being manipulated in the opposite direction. First, you should choose a regular broker with good regulation and reputation. If you do, then you don't have to worry about manipulation, just focus on trading.

Second, and most important, it's easy to get into a victim mentality and lose sight of the impact of your actions. So whenever they lose a few points, they start blaming the broker or the outside world. As the trader, you are the one responsible for everything that happens. If you are always making excuses, you will miss a lot of great learning opportunities because you will always think that you are right and other people and things are wrong.

Ask yourself these better questions:

Should I extend my stop a little more so I don't lose a few points?

What do my losing trades and my winning trades have in common? How can I make more winning trades and improve losing ones?

What mistakes do I make most often? What made me make such a bad decision?

Why do I always close profitable trades too early? How can you make profitable trades last longer?

How can I narrow my stop loss if I know it will lead to a bigger loss? How do you keep yourself from investing in a losing trade?

03, How do I become a millionaire?

Surprisingly, this question only came in at number three. The first hope and dream of most traders is that they can make a lot of money in trading. It's a results-oriented mindset. Thinking about how rich you can become through trading will never get you what you want. Traders who ask these kinds of questions are always looking for better indicators, more accurate entry signals, and other ways to make a quick profit. What they can't accept is that trading is just like anything else: it takes effort, practice, and persistence to determine whether you reach your goals.

Research has even found that traders with this gambling mindset are actually more likely to lose money on their trades. Instead of thinking too far into the future, focus on the present and make yourself the best trader you can be right now.

Ask yourself these better questions:

How can you make a little progress every week? What should I focus on now?

What are the weaknesses of my trading strategy?

Where is there more room for improvement?

Does my attitude toward trading reflect my goals? Am I being professional?

Do I have a get-rich-quick mentality? How does this mentality affect my trading? How can I become a more long-term trader?

Am I disciplined enough? Have I established a trading plan and recorded my trades?

04, how to avoid trading losses?

No one likes to lose money or make bad decisions. Amateur traders are often egoistic, believing that a loss on a trade proves that they are useless or a failure. In fact, losses are also an important part of trading, and it is important to be good at dealing with losses.

Some traders want to increase their profit chances and avoid trading losses, so they keep switching to new trading systems without ever really learning anything useful. Such traders are not aware of their lack of learning, and will only blame the trading system for its flaws and failure to provide a good entry signal. Not to mention the vicious circle of traders who are caught in the pursuit of the perfect trading system.

Ask yourself these better questions:

Did I execute the trade correctly? Do I follow my trading strategy and plan?

Did I make a bad decision on impulse or emotion?

Should I really change the system? Did I put enough effort into the current system? Or do you just want to find an excuse?

Does changing my trading strategy really say anything about my level of trading?

Should you stick to one method and try to improve it?

As you can see, these four wrong questions will inevitably lead to wrong answers and more wrong behavior. By listening to other traders on forums or social media, traders can discover many things not to do in trading. You should think carefully about your state of mind, so that you will avoid false expectations and assumptions in the process of trading.