Lack Of A Trading Plan 2. Using To Much Leverage 3. Failure to Control Risk 4. Throughout this multi-part series I will cover the major mistakes, why traders make them and how you can avoid them with your stock, ETF, and futures trading strategies. Because if you can avoid the mistakes then success should naturally happen. Recently to took a free online course by Steve Blank. I think it took me roughly hours online videos with embedded quizzes.
Anyway, Steve teaches you everything you need to know and do before starting any type of business and why so many individuals fail to succeed. The 1 mistake made by traders is because they have no trading plan to guide them through the financial market place. A surprisingly high level of traders enter the market without a clear strategy on how they will trade in and out of the market. Most traders are so excited to start trading they simply skip the process of creating, building and testing a stock, ETF of futures trading strategy before they actually start trading with real money and why there is a high rate of failure.
If you take great pride in your trading and truly want to succeed over the long run, then I am sure you find yourself as I do, constantly consumed by monitoring your trades and strategies to be sure the process is executed correctly.
If this is you, then congratulations, you are rare and likely making some big money. The main reason individuals trade without a plan is because of the allure that making money in the market can be quick and highly profitable. This mind set is understandable. We are all guilty of tossing a product manual to the side and just try to build or use a new product without learning how it works, only to realize hours or days later we are reading the manual because we made some mistakes….
As with any business or professional to be a success a great deal of hard work is typically involved. First of all it is not easy to build a successful trading plan. And then if you can do that, then you need to follow the plan, which is actually even harder. If you want to be a successful trader then you better be prepared to pay the price in terms of time and money. Avoidance Method 1 - The first is to devote as much time and energy needed to develop a detailed stock, ETF or futures trading strategy that addresses all of the key elements of a successful trading plan and system and still knowing that this will BOT guarantee your success.
I hope this short report helps you see the light at the end of the very long tunnel of creating, building and following a trading plan. Keep your eyes open for part II where I will talk about trading with leverage, how to avoid it, and how to use it to generate massive gains if used correctly. Print Friendly Commentary Archive Bio. The Four Biggest Mistakes 1. Lack Of Self-Discipline Throughout this multi-part series I will cover the major mistakes, why traders make them and how you can avoid them with your stock, ETF, and futures trading strategies.
Why Do Trades Make Mistake 1? How to Avoid Mistake 1 - There are only two ways around making this mistake Avoidance Method 1 - The first is to devote as much time and energy needed to develop a detailed stock, ETF or futures trading strategy that addresses all of the key elements of a successful trading plan and system and still knowing that this will BOT guarantee your success.
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