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15 Mistakes by Traders

1) Always wants to be in the game .. more time means less money
2) Wants money quickly .. you can’t control the market 
3) Finds it very inexact – which system – how much to risk – there are no hard and fast rules .. 
using a positive expectancy system with a clear edge will work out over a period of time if risk is proportionate
4) Finds it boring to trade small
Since no trade is a sure thing and even with positive expectation, it is possible to have a string of 10 consecutive lossees. It is important to risk less to give probabilities a chance to work in your favour
5) Wants immediate gratification – can’t wait
You don’t control the market
6) Keeps looking for new indicators/systems – the sure system
There is no definiteness..
7) Keeps trying new indicators
Nothing works all the time
8) Keeps switching between different techniques – he wants the techniques to work 100% of the time
Nothing works all the time.. Instead stick with a few proven systems and trade them all the time
9) Very Adventurous
You are here to make money and not for thrills
10) Wants to make big money overnight.. Multiple positions – excess leverage
Since you can never be sure if the next trade is a winner or if the next 10 trades are losers, why would you want to risk too much (more…)