The 30 most costly trading errors

Congratulations, you are on your way to increasing your profits.

 

I'd also have to say that there are so many people trading that have no business being a securities trader.
Many fools think that anyone can trade. That is not the case. Many gravitate to this business after failing elsewhere because of the ease of entry. The overwhelming majority do not have the skills and abilities to be successful traders. Many have little economic education or understanding of the markets, no financial education etc. They are fodder for the cannons.

 

i see a lot of people trading commodity and ultra etfs without fully understanding them

 

That should be 1 and 2 on a how to succeed list.

I had an epiphany the other day. Trading is less about the market than it's about how I bet.

 

#32 not refreshing your mind with exercise, games and other helthy activities.......after each 7 hours trading session.

 

"Always acknowledge a fault,this will throw those in authority off their guard,and give you an opportunity to committ more" MARK TWAIN #33 Lack of humility

 

How about.......

Not trying to pick tops and bottoms

 

Not looking at the daily economic events calendar should probably be on the list.

 

1flyfisher

06-10-09 05:17 PM

The overwhelming majority do not have the skills and abilities to be successful traders. Many have little economic education or understanding of the markets, no financial education etc. They are fodder for the cannons.

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Well I disagree with you fly. All you have to do is listen to the many Gurus around and see how often they are wrong. Trading is not for everyone but your statement is so general to make no sense.
What are the skills you think traders should have?
And just how much financial education is needed in your opinion?
And tell us who fully understands the market.

I think a lot of wining is luck. Not sticking with the trend is a major reason for losses.
And most of all being adequatfely funded for what you are trying to do. The more money you have the easier it is to win but no guarantee either.

Sometimes bailing too early if a stock goes against you is big reason for losses. I think knowing your stock helps. Following guide lines for trading as if they were written by God can also cause a lot of losses.

Let's hear some positive reasons for sucess rather reasons for not making money.

Don

 

0. Not having a stop loss.