What Traders should not do?

angelnish

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Being too proud to close out for a loss
Trading because of the buzz it gives
Over-leveraging and putting too much risk on the table
Closing out a winning position too early
Trading with a small account
Feeling you always have to be in a trade / over trading
 
There are number of traders "Trading with a small account". So I think, this point is for "Wrong Turn".
 
that's Spanish fkkked then !


(for those of you who remember that little tw@t)

He's a regular poster on elitetrader still, lol. Saw this post from him the other day which made me smile. He's got life sussed!

Quote from spanish89:



It was just turnup every 2 weeks, confirm your name and national insurance number, sign the piece of paper,
and then you just went home. lol

Had to go and do that 2x per month though.

I now dont claim jsa anymore though,
as i work as a bouncer in nightclubs on weekends due to how enjoyable and pleasurable a job that is (getting paid to swan around the inside of nightclubs perving on/getting chattedup by sluts in miniskirts)! :D :p

The government has cut and limited housing benefit rates, however the new limit they've put in place is maximum £1,250 per month for 1bedroom flats. :cool:



Im not especially looking to make 'big money' from trading tbh though.

Im looking to make consistently EASY money from trading,
although choose to keep it to medium/moderate amounts of very easy money,
rather than taking bigger risk just to try making big money. :)


Ive got my base of £1,250per month + around £680 per month from bouncer work (10-15hours per week),
so am already coasting along on just under £2,000 cash income per month as my guaranteed minimum!
(Would require a job with taxed-salary of over 40k per year to match that)

And so if i can notch up £400 - £1,000 extra per month from trading,
well thats all pure pleasure spending money for me each month
ontop of my standard £2,000 month income! :cool: :p

And really isnt a bad income at all, equivalent of a 50k salary for me a guy aged in his early 20s.




But cheers though mate.

What trades are you current in / looking to make??
 
Under plans suggested by the Tories, because of his age, he will be kicked out of that benefit paid for flat and it will be back to Mummy's.

Not before time too.
 
Buy and Sell the same instrument at the same price hoping that somehow profit can be magically made.
 
Trade without a plan.
Expect trades to be profitable each time,as it doesn't matter if your system has an edge.
Do not be married to the trade,when the reasons for entering the trade change,you have to do something.
Don' try and guess the news.
 
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