The 7 Deadly Sins of Trading

Discussion in 'Trading' started by slapshot, Nov 1, 2002.

  1. (for me, anyways - when I don't do any of these I make money)

    Did I miss any? Do you have your own?


    1) Too Much Size

    2) Lifting Stops

    3) Chasing

    4) Jumping the Gun

    5) Adding to Losers

    6) Counter-Trend

    7) Revenge Trading


    Just my take on things - would welcome comments or additions.


  2. Thinking you are smarter than the market ...
  3. Sin #8 - trading outside your plan, a.k.a. trading without a plan


  4. Whew!.... I thought this was going to be a Pristine Trader post... :eek:
  5. Huh, answers somewhat evenly spread between the 7 choices so far... Thanks to all whom have posted so far.

  6. At least in my foggy mind this one was covered under the umbrella of counter-trend - which is where I am every time I think I'm smarter than the market....:eek:

  7. I agree - however this counts as completely jumping the gun.....which is what trading before you have a solid plan is.

    Believe me, this one cost me the most tuition - I was gonna be different!

    Thanks for Reply,

  8. Oh... I always thought of jumping the gun as
    getting in too early, within your plan, because
    you got all anxious and your setup was "almost"
    complete, but not quite.

    Anticipating your setup, jumping in, and getting slammed.
    Used to do that a lot.

    Its getting suckered into a play completely outside
    of my plan that gets me the most though.

    But I have learned....



  9. Axe,

    I said that in jest, not to contradict you - your suggestion about Sin #8 right on the money - but it just doesn't sound as cool - "the 8 deadly sins of trading"

    Grateful for your input.

  10. Just goes to show that there are many ways to be skinned.

    We all have our own unique weaknesses, each of which we need to overcome to trade at our potential. This is why IMO some of the generic advice given out may be worthless to one while invaluable to another.
    #10     Nov 2, 2002