Article 10 New Trader Pitfalls You Can Avoid

T2W Bot

Staff member
1,454 54
What are the major pitfalls that every new trader faces? And how can you avoid them?
So you want to trade, eh? Or have you already started? What drew you to it? Was it the huge profit potential? Maybe it was the excitement. Or perhaps you love the challenge of solving a big, multi-dimensional puzzle.
Trading can be rewarding. You can make lots of money. You can have tons of fun. You can have something to brag about to your friends. Unfortunately, trading can also just as easily lead to financial distress and high blood pressure if you don’t go about it the right way.
Whatever the case, there’s certainly a number of things that make trading the financial markets worthwhile. At the same time, however, there are some huge obstacles along the path to profits and success. This article discusses ten ways to avoid trouble in the markets. They will help protect your capital and increase your chances of success. Ready? Let’s jump right in!
No1: Avoid Errors in Order Entry!The...
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henry766

Well-known member
433 17
The author applies 10% of his article to the "system", having a truly profitable system is 99%of trading, the rest is just decoration.
 

BroadSword

Guest
137 4
Yes, a system is important, you need a tested profitable strategy, but equally important is money management and being psychologically robust enough to trade your strategy.

Neither of these last two points gain any mention, although are aluded to indirectly, I suppose...
 

neil

Legendary member
5,167 745
trader Mike at work

An old article I found which might interest some. It relates to how one trader works.

http://tradermike.net/2006/06/tools_of_the_trade_how_i_work/

It is not suggested you adopt his methods or equipment. I post the article for those interested in how other people work.
 

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