Everyone loves Top Ten Lists at the end of the year -
(1/12) Top 10 Mistakes Reasons Traders Lose Money:
#trading
#StockMarket
#stocks
#DayTrading
(1/12) Top 10 Mistakes Reasons Traders Lose Money:
#trading
#StockMarket
#stocks
#DayTrading
10. Scams -
(2/12) As shocking as it may seem those YouTube videos promising you untold riches if you just pay for their courses? Yeah, they are full of crap.
You lose $ twice - paying them and again when you trade.
(2/12) As shocking as it may seem those YouTube videos promising you untold riches if you just pay for their courses? Yeah, they are full of crap.
You lose $ twice - paying them and again when you trade.
9. Well Meaning Idiots
(3/12) Everyone will try to give you advice. They may even sound smart - but unless they can prove themselves to be a consistently profitable trader, chances are you’re listening to someone that also loses money.
(3/12) Everyone will try to give you advice. They may even sound smart - but unless they can prove themselves to be a consistently profitable trader, chances are you’re listening to someone that also loses money.
8. So. Many. Indicators.
(4/12) Traders make money off the exceptions, and indicators measure the rule.
If they worked there would be a lot more profitable traders. But there aren’t. Because most don’t.*
*Most - not all.
(4/12) Traders make money off the exceptions, and indicators measure the rule.
If they worked there would be a lot more profitable traders. But there aren’t. Because most don’t.*
*Most - not all.
7. So. Many. Methods.
(5/12) I scalp off the 3/8 cross on the 1M after a 3-Bar new high. I also never make money.”
“I love shorting stocks at an all-time high. I also love losing money”
“Low-float, high-short momentum gappers are my thing! So is constantly depositing more $!”
(5/12) I scalp off the 3/8 cross on the 1M after a 3-Bar new high. I also never make money.”
“I love shorting stocks at an all-time high. I also love losing money”
“Low-float, high-short momentum gappers are my thing! So is constantly depositing more $!”
6. FOMO
(6/12) Do I really need to explain this one?
(6/12) Do I really need to explain this one?
5. Tilt - Revenge Trading
(7/12) You lost. You’re mad.
You can either take a step back or you can lose your mind, increase position size and lose even more.
Tough choice.
(7/12) You lost. You’re mad.
You can either take a step back or you can lose your mind, increase position size and lose even more.
Tough choice.
4. Expectations
(8/12) It takes two years minimum before you start to become a profitable trader.
There are no shortcuts, you can just try to minimize the “tuition” you pay.
Unless you thought financial freedom was easy to achieve?
It takes a LOT of hard work. A. LOT.
(8/12) It takes two years minimum before you start to become a profitable trader.
There are no shortcuts, you can just try to minimize the “tuition” you pay.
Unless you thought financial freedom was easy to achieve?
It takes a LOT of hard work. A. LOT.
3. Arrogance
(9/12) No, you haven’t come up with a method nobody else has thought of using.
No, you can’t outthink the market.
And yes, everyone else has thought of your brilliant theory.
(9/12) No, you haven’t come up with a method nobody else has thought of using.
No, you can’t outthink the market.
And yes, everyone else has thought of your brilliant theory.
2. Counter-trend Trading
(10/12) Traders LOVE to go against the trend.
Everyone else is wrong - they’re gonna be the ones that catch that reversal!
Sure they keep losing but that won’t stop them!
$SPY keeps going up? Time to short! Wait…damn, no $ left.
(10/12) Traders LOVE to go against the trend.
Everyone else is wrong - they’re gonna be the ones that catch that reversal!
Sure they keep losing but that won’t stop them!
$SPY keeps going up? Time to short! Wait…damn, no $ left.
1. Cut the winners, hold the losers
(11/12) By far the #1 reason.
The logic goes like this -
“I’m right! Time to get rid of it! I’m wrong! Gotta hold it!”
Add to winners - Cut the losers
(11/12) By far the #1 reason.
The logic goes like this -
“I’m right! Time to get rid of it! I’m wrong! Gotta hold it!”
Add to winners - Cut the losers
Dishonorable Mention:
If you don’t “get it”, don’t do it.
(12/12) “I did a Broken-Wing Butterfly and got assigned!”
You didn’t understand how the spread works, and now you are the proud owner of 500 shares of $NVDA, congrats.
If you don’t “get it”, don’t do it.
(12/12) “I did a Broken-Wing Butterfly and got assigned!”
You didn’t understand how the spread works, and now you are the proud owner of 500 shares of $NVDA, congrats.
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