20 Most Common Trading Mistakes
And How You Can Avoid Them
2012. 224 Pages, Softcover
ISBN 978-1-74216-929-3 - John Wiley & Sons
E-Books are also available on all known E-Book shops.
You're a trader. You live a life of glamour, fast cars, leisure and luxury -- everything you've ever dreamed of ...
Of course, that's until you discover that trading can be brutally difficult. If you play the trading game, you are going to make mistakes -- maybe even some like these:
* agonising endlessly over when to enter or exit a trade
* trading like a maverick, risking too much of your capital
* beating yourself up when a trade goes against you
* losing $1 million in a single trade
* clicking 'buy' instead of 'sell'
* buying 10 000 units when you only meant to purchase 1000.
20 Most Common Trading Mistakes reveals market mishaps from some of the biggest names in trading. Everyone - from stellar traders to complete novices -- can use help learning how to trade in the black. Why not learn from the masters how to turn blunders into profit?
From the contents
1 It's not my fault -- I didn't even know it was a mistake!
Mistake 1: defining a trading mistake (with Dr Van Tharp).
2 The horse goes in front of the cart.
Mistake 2: jumping into the market before having learned the required skills (with David Hunt).
3 Failing to plan is planning to fail.
Mistake 3: not having a clearly defined and documented trading plan (with Justine Pollard).
4 Get that monkey off my back.
Mistake 4: not trusting your own ability (with Louise Bedford).
5 Nice knowing me.
Mistake 5: not aligning your trading strengths (with Brett Steenbarger).
6 Easy come, easy go.
Mistake 6: overcomplicating the entry process (with Russell Sands).
7 Complex complexity.
Mistake 7: making trading too complicated (with Davin Clarke).
8 Too many contracts, not enough shares.
Mistake 8: not understanding money management (with Ryan Jones).
9 1000 per cent return in three days -- sure, it happens all the time.
Mistake 9: paying good money for a dodgy trading 'system' (with Wayne McDonell).
10 Heads, I win; tails, you lose!
Mistake 10: failing to understand the numbers (with Gary Stone).
11 Bet big to lose big.
Mistake 11: misusing leverage and margin (with Christopher Tate).
12 What's the time, Mr Wolf?
Mistake 12: confusing time frames and trading strategies (with Jake Bernstein).
13 Where the ^!*# is the exit?
Mistake 13: not having a clearly defined exit strategy (with Larry Williams).
14 But the guy on TV said it would go up tomorrow!
Mistake 14: listening to the advice of media and others (with Glen Larson).
15 Half price and still too expensive.
Mistake 15: averaging down (with Tom Scollon).
16 I'm right! The market's wrong.
Mistake 16: lacking discipline (with Dr Harry Stanton).
17 The emotions of a robot.
Mistake 17: emotive and subjective trading (Kel Butcher).
18 Overworked and underpaid.
Mistake 18: overtrading (various).
19 Fat fingers, 10 000 too many, and busting trades.
Mistake 19: operational errors (with John Robertson).
20 I'm sure I filed that somewhere ...
Mistake 20: avoiding the paperwork (with Jason Cunningham).