The 7 Deadly Sins of Trading

[traderkay]

trading without an edge. and to be honest i still dont have one. but at least i've finally realized what the problem is (yea, im quick like that! not.

 

[Atlantic]

missing the one good trade of the day - or getting out too soon on that trade.

 

[chasinfla]

lack of conviction.

 

[profitseer]

Originally posted by gerry875
missing the one good trade of the day - or getting out too soon on that trade.

Yes absolutely, The one mistake a disciplined trader can still make, and the most deadly in the long run because the results are at first positive, is taking a too small profit.

All the others are self correcting, but the small profit is the slow death from which there is no recovery.

It is also the most illusive problem, because it is in seemingly direct conflict with the often quoted law, "never let a profit turn into a loss."

Declaring a dmz between your initial stop loss and your minimum profit target can help. But then again, why wait for the complete maximum loss when you already know the trade has gone bad?

The small profit is just a loss in disguise.

 

[Pabst]

How about all of the above?

 

[gladiator]

Originally posted by profitseer
Yes absolutely, The one mistake a disciplined trader can still make, and the most deadly in the long run because the results are at first positive, is taking a too small profit.

All the others are self correcting, but the small profit is the slow death from which there is no recovery.

It is also the most illusive problem, because it is in seemingly direct conflict with the often quoted law, "never let a profit turn into a loss."

Declaring a dmz between your initial stop loss and your minimum profit target can help. But then again, why wait for the complete maximum loss when you already know the trade has gone bad?

The small profit is just a loss in disguise.

So true....nice way to put it, profitseer.

 

[OPTIONAL777]

Having the specialists find out that you have been sleeping with their wives.

 

[axeman]

The deadliest of sins...

Trying to play Quake Arena on monitor 1,
while trying to scalp IBM on monitor 2,
while watching some web cam porn site on monitor 3.



peace

axeman

 

[Girlpower]

Originally posted by OPTIONAL777
Having the specialists find out that you have been sleeping with their wives.

Ooooooooooooppppps!!!!!!!!!! Did I just say that????? :eek:

Natalie

 

[chasinfla]

surely this would compete with murder as the the deadliest sin of all.