Saturday, April 14, 2012

The 10 Pitfall Of A Trader

Looking back at why I lost and understanding why I lost is an important process because one cannot afford to make the same mistake over and over again. If he/she wants to be successful in trading, I believe the below 10 intangibles are the keys to avoid. It's only by letting go and be in a calm state then one can achieve the best mental state of mind to beat this game. Of course, I committed 2 of those sins which results in my pitfall.

Listen to gossip
Believe in tips
Eagerness and take guesses
Follow the public
Not wanting to lose
Not staying out of market when in doubt
Accept small profits and large losses

Ronald K - Market Psychologist - The Big Speculator