Biggest mistake?

[Jeff - Axiory]

Morning traders.

To any profitable traders out there - What was the number one mistake you all corrected to become a profitable trader?

Kind regards,

Axiory

 

[NVP]

i'll tell you when it happens .....

 

[Jeff - Axiory]

i'll tell you when it happens .....

:cheers:

 

[datamonkey]

I struggled with a number of things such as entering trades every time my edge showed itself (I was too hesitant), not being patient enough and letting my trade work out and altering my trading plan too often effectively confusing myself!

It has only been recently I've sorted my head out and got it nailed down.

 

[BeginnerJoe]

The top number one mistake was loosing.

 

[Jeff - Axiory]

The top number one mistake was loosing.

And how did that happen? :-0

 

[Patricia12]

I am searching my number one mistake to correct it and become a profitable trader.

 

[eighteen]

it took me a mega blowout to realise what my big mistake was, its really simple, letting losers run for days, capping winners after an hour (lol yeah), trading instruments i didnt understand fully (or not having the capital), or just not paying full attention to what the market was doing.

 

[Ross Spur]

How could anyone make a mistake when there are so many excellent trading course available that guarantee riches?

 

[datamonkey]

How could anyone make a mistake when there are so many excellent trading course available that guarantee riches?

lol, very good point!

Thing is many systems do perform well, yet bad traders make them fail when real money is traded...

Fear of loss, fear of missing out etc. All these emotions can make a good system fail... I remember my mentor telling me once:

"A good trader can make a bad system work. A bad trader can make a good system fail..."

Very true...

 

[JT_MOT]

Over trading definitely... still have to really try to keep it under control from time to time.

 

[Jeff - Axiory]

lol, very good point!

Thing is many systems do perform well, yet bad traders make them fail when real money is traded...

Fear of loss, fear of missing out etc. All these emotions can make a good system fail... I remember my mentor telling me once:

"A good trader can make a bad system work. A bad trader can make a good system fail..."

Very true...

I like that.

 

[DMayzler]

That's an awesome quote and so very true .
There is so much in trading that is 'personal' and by that I mean, there is as much about 'us' that effects the way we trade as anything else. Our own personal traits define the style we chose, the risk we are prepared to take and the time we are willing to put in, and of course the ease or difficulty at which we learn. A system is vital, but so is a good trading mentality and aptitude.

 

[YouAreNotFree]

Switching to buying at bid, selling at ask helped.

It's getting yourself right metally that is the biggest hurdle I would say.

 

[Mr Woozel]

Morning traders.

To any profitable traders out there - What was the number one mistake you all corrected to become a profitable trader?

Kind regards,

Axiory

Can think of a few but number one for me is probably the "wrong" money management. Linked to this is looking for a high win rate.

 

[Scott Masters]

over leveraging, chasing losses and hesitating...all of which are quite natural for a lot of noobs. And good reasons as to why you should start small.

 

[Mike Kshemaraja]

Morning traders.

To any profitable traders out there - What was the number one mistake you all corrected to become a profitable trader?

Kind regards,

Axiory

To be able in not trying to control emotions but just to be aware, staring and neutralise them so they would not interfere in my decisions making, which also took me not taking in consideration whatsoever any sort of self inflicted bias, but acting only based on what I consider through technical analysis a favourable condition in the direction of the least resistance. In a few word: "not mind "

I hope it helped a bit.

Sorry about my poor English.:whistling

 

[Jeff - Axiory]

To be able in not trying to control emotions but just to be aware, staring and neutralise them so they would not interfere in my decisions making, which also took me not taking in consideration whatsoever any sort of self inflicted bias, but acting only based on what I consider through technical analysis a favourable condition in the direction of the least resistance. In a few word: "not mind "

I hope it helped a bit.

Sorry about my poor English.:whistling

Hi and thanks for the reply Mike.

English is absolutely fine.
So how are you going with your strategy?

Jeff

 

[Mike Kshemaraja]

Hi and thanks for the reply Mike.

English is absolutely fine.
So how are you going with your strategy?

Jeff

Jeff

Very well, thanks.

Mike

 

[coopster]

I think my biggest mistake is thinking that trading is an escape from being unhappy with my day job.

I get into trades that are more just hope or due to impatience. I feel that because i have made the time to trade, i have to trade whether its a good setup or not because tomorrow i have no time to devote to trading!

Sorry, I know you wanted answers from successful traders..