I just published an e-book on Amazon titled "Failed Traders: The 20 Common Mistakes Committed By Over 1000 Losing Traders". It is free today and tomorrow (12/22 - 12/23) on Amazon at www.amazon.com/dp/B01N7HYH1B . Please feel free to download and leave a review. It is a collection of the 20 mistakes that I have witnessed traders continuously commit over my trading career that have lead to them failing as traders. Please visit www.FailedTraders.com for more information From the book description on Amazon (www.amazon.com/dp/B01N7HYH1B): "Failed Traders: The 20 Common Mistakes Committed By Over 1000 Losing Traders" is a must read for every trader that is either struggling or has failed attempting to make money trading. Based on Goldman's personal observations of over 1000 failed traders, this e-book gives stories, examples, and personal conversations with the actual traders. By NOT performing these 20 mistakes, traders that read this book will only be left with the correct actions that will increase their probability of a profitable trading career. Praise for "Failed Traders": Dennis Dick, CFA Proprietary Trader at Bright Trading: Failed Traders is unlike any other trading book on the market. Jeff points out the 20 common mistakes that cause most traders to fail. It's a very straight forward collection of stories and examples of actual traders that have committed these career ending mistakes. Unless you are 100% satisfied with your trading performance, you owe it to yourself to read this book. Baron Robertson, Elitetrader.com: There's no doubt that learning to become a solid, profitable trader requires a lot of time and focused effort. For many new traders, too much of their time is spent on making common mistakes and then dealing with the painful aftermath that follows, which is always a costly and psychologically difficult process to handle. The good news for a brand new trader coming into the markets today is that all of the major mistakes have already been made by countless others in years past. Jeff's "Failed Traders" book reveals these mistakes and gives readers the ability to exponentially accelerate their learning curves simply by learning what NOT to do. In my opinion, every new trader needs to read this book before he even opens an account. Joel Elconin, Premarketinfo.com: Failed Traders is a must read for anyone trading stocks. Instead of attempting to teach you a specific trading methodology, Jeff points out what NOT to do. There are few people in the trading community that can give this type of advice. If you aren't making the type of money you want from your trading, read this book. It will probably tell you what you are doing wrong!! Jesse Johnson, Professional Trader: I have been a professional trader for over 20 years. In my early days of trading, I committed at least 10 of the mistakes Jeff discusses! Because of that, I really struggled in my early years, nearly giving up numerous times. If Failed Traders was available then, it would have saved me A LOT of money, stress, and aggravation. I highly recommend Failed Traders to anyone that trades. Jerremy Alexander Newsome, CEO of Real Life Trading and Professional Day Trader I loved Chapters 4 and 5 in this book because they cover two different issues from two different spectrums of traders. Chapter 5 broaches the "trading is gambling" argument, which is used as an excuse by many traders when they lose money in the markets. And speaking of losing, Chapter 4 is critical. I personally feel this is a great read! One you can easily knock out in a short afternoon out on the back patio when the weather is perfect. Jeff creates a risk manuscript that is exceptional for someone who is brand new to investing, or an advanced active trader looking for their big breakthrough. A splendid read, which I recommend highly! Fernando Oliveira, Author: Traders Of The New Era: Much of the trading literature empathizes what a trader needs to do, but in my experience, not doing certain things is as important as doing others. Ancients had a term for something similar, Via Negativa, or the Negative Way. It attempted to describe God by describing what God is not. With Jeff's book you can get an idea of what good trading is by learning what good trading is not. If you make less mistakes as a result of reading this book, you will save yourself thousands of dollars and increase your chances of becoming a successful trader. About Goldman: Jeff Goldman has had an extensive trading career. After graduating with an MBA from Michigan State University in 1989, Jeff spent two years on the floor of the Chicago Mercantile Exchange. In 1991, Jeff switched his focus to equities and spent the next 7 years at Olde Discount Brokerage, starting as an assistant trader, and eventually working his way up to Assistant Vice President Of Listed Trading. From 1998 - 2006, Jeff traded for Knight Trading and Southwest Securities. In 2006, Jeff co-founded JC Trading Group. In 2015 Goldman sold his interest in JC Trading and switched his career path to his other passion, fitness and exercise. Currently, Jeff co-owns The Exercise Coach (www.exercisecoach.com), a personal training studio in Michigan.
Congrats on writing the book, which I'm sure took a lot of time and effort. However, after seeing the chapter titles, it appears too negative for me…but, good luck.
I'm disappointed to hear it, Baron. To clarify - I do respect absolutely the fact that it's your forum and they're your rules and decisions, just as I'm sure you respect the fact that longstanding participants/contributors here who sell/promote nothing will have our own impressions of how this forum's traffic and participation are doing, relative to some others, at this time when retail and semi-professional trading, and public interest in them, are thriving. So I hope you won't mind my mentioning my disappointment about that.
Jones75, Thank you for the feedback. Each chapter is a specific mistake. If they seem "negative" that is because they are actions that failed and losing traders usually commit. By eliminating these negative actions, traders will be in a better position to have a successful trading career.
"Happy families are all alike; every unhappy family is unhappy in its own way." There are a nearly infinite number of ways to be an unsuccessful trader. Quick maths brushup, ∞-20 still equals ∞. It's a logical fallacy to assume that eliminating mistakes will lead to success. It's a necessary but not sufficient condition.
Thanks for taking your time to educate traders on common mistakes they make. I'll definitely check it out.