-Trading mistakes-

#1 Almost giving up trading several times right before the important breakthroughs.

Just like a chart, breakouts happen right when you least expect it. Only way you can succeed in the game is to be in for the long term.
 
Quote from short101:

I HAVE BEEN KEEPING A JOURNAL FOR 8 YEARS OF ALL MY TRADING MISTAKES . THE # 1 ANSWER TO ALL OF YOU IS ACT UPON WHAT YOU SEE. FOLLOW THE TREND. TRYING TO FORCE YOUR OPINION ON WHAT HAS TO HAPPEN IN THE MARKET IS ONE OF THE BIGGEST MISTAKES ANYONE COULD MAKE . PLEASE CONTACT ME AT TRADINGLIVERMORE01@YAHOO.COM AND I WILL GIVE YOU MANY MORE OF THE TRADING MISTAKES THAT I HAVE MADE IN MY CAREER OF TRADING ON WALL ST
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You are seriously pissing me off man....
 
#1]buyin' waaay too many aapl otm options before report in summer 05 with 2days to exp...stock plunged'n'neddless to say me options were worhtless just 12hours after da purchase, r0r.

#2]buyin' binaries above 70 without hedgin'
 
Ok here are mine:

1. Started learning how to "really" trade with Futures, the YM (mini-dow) first off. Very painful experience psychologically and made my wallet a bit more thin.

2. Read stupid books on indicators and all that. I believed that in order to win in this game you had to use an indicator and if you found a good enough indicator you would win..... WRONG


On the contrary, the smartest thing I ever did:
The smartest thing I did was learn about the psychological effects trading has on a person and finally start trading the way I wanted to trade. Going prop was the wisest dicision in my trading career.... I finally could afford to day-trade stocks.

Also another smart thing was review as many posts as possible here on ET. ET is like an archive of great and doomed traders. I picked a lot of traders that I knew had failed and are current suceeding and review all their posts, hunting for information, tips, and all of that. I print out threads that I believe are beneficial to me and I print out threads of things I should never do.

So there is the mistakes and the greats of trading so far for me :)

EDIT:
Also for me.... in all things in my life, things don't seem to gradually come to me. Things just sorta "click" in my mind, and I will finally understand something. For me it is usually an all or nothing kinda deal. I can't explain exactly when that click happened in my mind, but it was somewhere when I decided I needed to move to a different market to trade, and then I actually did.

Just figured I'd throw that out there for others who learn stuff in a fashion where it just seems to "click"
 
Quote from JMowery1987:

Going prop was the wisest dicision in my trading career.... I finally could afford to day-trade stocks.
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At 19 years of age, just out of high school and you went prop? You sell bridges in your spare time?
 
Quote from max401:

At 19 years of age, just out of high school and you went prop? You sell bridges in your spare time?
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Whatever it takes :cool:

I had been wanting to be a trader since I was 14 - 15. Finally got my chance when I hit 18. Going to be doing this forever.
 
1. Using too much leverage. Every time I use too much leverage, I lose, yet I could position up a quarter of a lot, and God knows I'll make 300 pips.

2. Trying to front run my trading plan, when it's not a strategy that should be front runned...
 
Letting my 3 year old into my office....leaving the office for a second and coming back to being long 20K shares of a piece of shit, and losing 12K before it was all said and done. He sure did like hitting the keys.
 
Quote from bandit:

Letting my 3 year old into my office....leaving the office for a second and coming back to being long 20K shares of a piece of shit, and losing 12K before it was all said and done. He sure did like hitting the keys.
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Oh man... that's harsh...
 
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