-Trading mistakes-

Hey,
I was wondering if anyone wanted to start a thread on the top 2 or 3 mistakes you have made, or continue to make? Something that the new people can maybe learn from. Try to keep the chit-chat to a minimum so people can browse the posts. I don't care

Mods, if this sounds stupid just delete it ok.

Mine when I started a few years ago:
1-Having too much faith in the effects of news
2-Predicting a bottom or top

Take care,
-Kastro

 

Chasing a trade....trying to make it work when it isn't working.

Doubling up to make up for previous losses.

Trading too large a stake.

Stop Losses set too close.

Stop Losses set too far.

Following a signal service.

 

Order execution mistakes. Im using TWS. go with
buy when i intended sell or visa versa. Couple of times
it cost me..ouch.

.......... rj

 

Top and bottom picking #1(I still try this classic:-(. Taking profits too soon.My fear of losing has me too tight on stops.Am finally loosening up on that one.

 

I take profits too early a lot of the times

 

Biggest mistakes I made when I started trading:
1. Not setting stops. One loss took out 10% of my capital.
2. Listening to analysts and following their advice.

 

Mistake #1: Averaging down.

Mistake #2: Averaging down some more.

Mistake #3: Going down in flames on an averaging down rampage.

 

1. Fighting the trend

2. Taking profits too early

3. Not acting accordingly to plan

 

Being on the wrong trend without MM.

 

Mistake #4 Walking away in the middle of the inferno hoping the flames will go out by themselves!!!!!