The 7 Deadly Sins of Trading

S

slapshot

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

Did I miss any? Do you have your own?

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1) Too Much Size

2) Lifting Stops

3) Chasing

4) Jumping the Gun

5) Adding to Losers

6) Counter-Trend

7) Revenge Trading

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

Regards,

Paul
 
Originally posted by metooxx
Thinking you are smarter than the market ...
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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:
 
Originally posted by axeman
Sin #8 - trading outside your plan, a.k.a. trading without a plan

peace

axeman
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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,

Paul
 
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....

peace

axeman
 
Originally posted by axeman
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....

peace

axeman
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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.

paul
 
Originally posted by slapshot
Huh, answers somewhat evenly spread between the 7 choices so far... Thanks to all whom have posted so far.
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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.
 
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