-Trading mistakes-

Kastro_316 · May 7, 2006

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

forex5x · May 7, 2006

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.

rcj · May 7, 2006

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

.......... rj

nampooya · May 7, 2006

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.

dalodoma · May 7, 2006

I take profits too early a lot of the times

igor043 · May 7, 2006

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.

JSL_Capital · May 7, 2006

Mistake #1: Averaging down.

Mistake #2: Averaging down some more.

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

Amnesiac · May 7, 2006

1. Fighting the trend

2. Taking profits too early

3. Not acting accordingly to plan

nononsense · May 7, 2006

Being on the wrong trend without MM.

scalper21 · May 7, 2006

Quote from JSL_Capital:

Mistake #1: Averaging down.

Mistake #2: Averaging down some more.

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

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