20 Most Common Trading Mistakes

You're a trader. You live a life of glamour, fast cars, leisureand luxury -- everything you've ever dreamed of ...Of course, that's until you discover that trading can bebrutally difficult. If you play the trading game, you are going tomake 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 mishapsfrom some of the biggest names in trading. Everyone - from stellartraders to complete novices -- can use help learning how totrade in the black. Why not learn from the masters how to turnblunders into profit?

Acknowledgements ixIntroduction xi1 It's not my fault -- I didn't even know itwas a mistake!Mistake 1: defining a trading mistake (with Dr Van Tharp) 12 The horse goes in front of the cartMistake 2: jumping into the market before having learned therequired skills (with David Hunt) 133 Failing to plan is planning to failMistake 3: not having a clearly defined and documented tradingplan (with Justine Pollard) 234 Get that monkey off my backMistake 4: not trusting your own ability (with Louise Bedford)355 Nice knowing meMistake 5: not aligning your trading strengths (with BrettSteenbarger) 4520 Most Common Trading Mistakes6 Easy come, easy goMistake 6: overcomplicating the entry process (with RussellSands) 577 Complex complexityMistake 7: making trading too complicated (with Davin Clarke)658 Too many contracts, not enough sharesMistake 8: not understanding money management (with Ryan Jones)739 1000 per cent return in three days -- sure, it happensall the timeMistake 9: paying good money for a dodgy trading'system' (with Wayne McDonell) 8710 Heads, I win; tails, you lose!Mistake 10: failing to understand the numbers (with Gary Stone)9711 Bet big to lose bigMistake 11: misusing leverage and margin (with Christopher Tate)11112 What's the time, Mr Wolf?Mistake 12: confusing time frames and trading strategies (withJake Bernstein) 12513 Where the ^!*# is the exit?Mistake 13: not having a clearly defi ned exit strategy (withLarry Williams) 13514 But the guy on TV said it would go up tomorrow!Mistake 14: listening to the advice of media and others (withGlen Larson) 14715 Half price and still too expensiveMistake 15: averaging down (with Tom Scollon) 15716 I'm right! The market's wrongMistake 16: lacking discipline (with Dr Harry Stanton) 16517 The emotions of a robotMistake 17: emotive and subjective trading (Kel Butcher) 17318 Overworked and underpaidMistake 18: overtrading (various) 18519 Fat fingers, 10 000 too many, and busting tradesMistake 19: operational errors (with John Robertson) 19720 I'm sure I filed that somewhere ...Mistake 20: avoiding the paperwork (with Jason Cunningham)207Glossary 217Index 225