What not to do

stoploss please

Established member
780 10
There is a lot of discussion concerning how to trade and what you should be doing.

I have an idea. Lets all make a list of what not to do. I will start it.

I do not trade break outs.
 

stoploss please

Established member
780 10
Don't let your opinion cloud your judgment.
 

jsd

Active member
232 3
Dont ignore the wife, even though you understand the importance to stay focused when in a day trade that you have patiently waited for it to setup,calmly executed, objectively being aware of the market movement that you realise is moving you into profit waiting for that split second moment that only you know to exit, DONT IGNORE THE WIFE .

JD
 

ZigZag

Active member
123 0
Do not trade unless you know what your edge is.
 

Newtron Bomb

Experienced member
1,602 87
From a psychological view point making a list of "what not to do ", while productive in identifying individual bad habits, mentally is not very productive unless you take action by the making a corrective list to prevent or improve on these issues.

To put it simply, when you tell a child "not " to do something they would immediately do the opposite and is a form of psychological conditioning. You know if you have said to yourself not to do something ie a particular trade etc. but your overriding feelings make you not want to miss an opportunity hence you put the trade on that you expect will loose you money based on your current methodologies.

Taking action on the list you have identified will make you a better trader rather than just writing a list.

This is the difference between a wish list and a to do list

HTH

NB
 

keano

Well-known member
327 30
Hehe. How strange. I was just going to ask your opinion on taking a postition near the VWAP. Some systems take it as a bullish signal to go long if a stock crosses above it's VWAP nad visa versa, but obviously you disagree? You prefer to trade towards the VWAP against the trend. If a stock is 25c below it's VWAP would you look at that as an attractive buy?

thanks Grey1
 
 
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