Some of the mistakes I have made as a trader in the past,learnt AND have changed my style.Which ones are you making right now???
* Traded blindly without any homework or trading plans (poor discipline).
* Traded without Stop Loss or with too big Stop Losses (poor Risk Management).
* Traded way too many trades in a day resulting net losses (poor Risk and Money Management).
* Traded against the
* Traded blindly without any homework or trading plans (poor discipline).
* Traded without Stop Loss or with too big Stop Losses (poor Risk Management).
* Traded way too many trades in a day resulting net losses (poor Risk and Money Management).
* Traded against the
prevailing trend and then booked losses (poor Plan and Risk Management).
* Traded with the trend but booked small profit and too early.
* Traded with good plan (mm, rm, plan, discipline) but with no conviction in the plan resulting less profit to cover other big losses.
* Traded booking small profits and big losses.
* Traded at Market Price in less volume scrips resulting big losses.
* Traded on speculations, rumour or news and getting traped in Market Makers game resulting big losses.
* Traded within fear/greed barrier and without knowing risk/reward ratio.
* Traded on tips resulting huge losses.
* Traded getting psyched from CNBC or US/Europe speculations and resulted huge losses.
* Traded not even realizing after loosing lots of money & time in markets, Not Knowing which Time frame suits my personality.
* Averaging and overleveraging to losing position and selling in panic.
* Converted intraday or swing trades into short term and long term without reasons.
* Committed some or all of above - again and again.
* Was unable to bare the loss and then traded more and more to recover the loss..ultimately completely or nearly wiped out the account.
* Traded with the trend but booked small profit and too early.
* Traded with good plan (mm, rm, plan, discipline) but with no conviction in the plan resulting less profit to cover other big losses.
* Traded booking small profits and big losses.
* Traded at Market Price in less volume scrips resulting big losses.
* Traded on speculations, rumour or news and getting traped in Market Makers game resulting big losses.
* Traded within fear/greed barrier and without knowing risk/reward ratio.
* Traded on tips resulting huge losses.
* Traded getting psyched from CNBC or US/Europe speculations and resulted huge losses.
* Traded not even realizing after loosing lots of money & time in markets, Not Knowing which Time frame suits my personality.
* Averaging and overleveraging to losing position and selling in panic.
* Converted intraday or swing trades into short term and long term without reasons.
* Committed some or all of above - again and again.
* Was unable to bare the loss and then traded more and more to recover the loss..ultimately completely or nearly wiped out the account.
I hv commited most of these mistakes and lost everything.......perhaps still not learned my lesson.....
ReplyDeleteGreat list, I have commited all except converting in to delivery... still learning.. hope will get it soon..
ReplyDeleteMade some of them. I am not making same mistake again!
ReplyDeletelearn , earn have fun...
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