Personal Faults & Gotchas (self-induced trading mishaps)

[James Austin]

i couldnt find a suitable thread, so i thought i'd start this one

in the vein of IGs platform faults and gotchas thread, i thought i'd post my most recent self-created trading mishap . . . as an antidote to taking myself too seriously.

i'm sure everyone has at least one; and if u dont have one, u can have one of mine


* * *

this morning whilst watching the Aus200 rising some 100 or so points, i wondered how i might partake in the profits.

my platform and charts were all set-up, and my deal ticket sat poised on my desktop, ready for action.


as i contemplated my perfect entry i decided it would be a good idea to give my mouse a thorough clean :shake:

taking a tissue . . . . .


well, needless to say my one click deal ticket and mouse work just fine,

if only i had of inadvertently sent a long, not a short.
oh well . . . better luck next time

 

[Wysiwyg]

Okay, a list of my trading faults over the years.

1) Holding a losing position too long (stubbornness, persistence, rigidity)
2) Over trading (impatience, boredom, indiscipline)
3) Spooked out of a position (classic spiteful market moves)
4) Placing too much belief in technical analysis (patterns recur but the scale and intensity constantly change, reliability is variable)
5) Not selling at a profit often enough (holding for more to cover previous losses)

Discipline, conviction, open mindedness, honest to self, ruthlessness are some of the traits required to be successful.