20 Most Common Trading Mistakes And How You Can Avoid Them

by Butcher, Kel

• ISBN13: 9781742169293
• ISBN10: 1742169295
• Edition: 1st
• Format: Paperback
• Copyright: 2009-09-28
• Publisher: Wiley

Summary

You're a trader. You live a life of glamour, fast cars, leisure and luxury -- everything you've ever dreamed of ...Of course, that's until you discover that trading can be brutally difficult. If you play the trading game, you are going to make mistakes-- maybe even some like these: agonising endlessly over when to enter or exit a trade, trading like a maverick, risking too much of your capital, beating yourself up when a trade goes against you, losing $1 million in a single trade, clicking 'buy' instead of 'sell' buying 10 000 units when you only meant to purchase 1000.20 Most Common Trading Mistakes reveals market mishaps from some of the biggest names in trading. Everyone - from stellar traders to complete novices - can use help learning how to trade in the black. Why not learn from the masters how to turn blunders into profit?

Author Biography

Kel Butcher is a financial markets trader with almost 20 years' experience trading shares, futures, options, warrants and CFDs. Kel is a regular contributor to YourTradingEdge magazine and acts as a consultant to a managed fund, a boutique trading company and a share-trading software developer. Kel is the author of A Step-by-Step Guide to Buying and Selling Shares Online.

Table of Contents

It's not my fault-I didn't even know it was a mistake!
defining a trading mistake	p. l
The horse goes in front of the cart
jumping into the market before having learned the required skills	p. 13
Failing to plan is planning to fail
not having a clearly defined and documented trading plan	p. 23
Get that monkey off my back
not trusting your own ability	p. 35
Nice knowing me
not aligning your trading strengths	p. 45
Easy come, easy go
overcomplicating the entry process	p. 57
Complex complexity
making trading too complicated	p. 65
Too many contracts, not enough shares
not understanding money management	p. 73
1000 per cent return in three days-sure, it happens all the time
paying good money for a dodgy trading 'system'	p. 87
Heads, I win; tails, you lose!
failing to understand the numbers	p. 97
Bet big to lose big
misusing leverage and margin	p. 111
What's the time, Mr Wolf?
confusing time frames and trading strategies	p. 125
Where the ê!*# is the exit?
not having a clearly defined exit strategy	p. 135
But the guy on TV said it would go up tomorrow!
listening to the advice of media and others	p. 147
Half price and still too expensive
averaging down	p. 157
I'm right! The market's wrong
lacking discipline	p. 165
The emotions of a robot
emotive and subjective trading	p. 173
Overworked and underpaid
overtrading (various)	p. 185
Fat fingers, 10000 too many, and busting trades
operational errors	p. 197
I'm sure I filed that somewhere...
avoiding the paperwork	p. 207
Glossary	p. 217
Index	p. 225
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