20 Most Common Trading Mistakes
And How You Can Avoid Them
1st Edition
Published on 8. January 2010
Book
Paperback/Softback
248 pages
978-1-74216-929-3 (ISBN)
Description
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?
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?
More details
Language
English
Place of publication
Milton, QLD
Australia
Dimensions
Height: 229 mm
Width: 152 mm
Thickness: 15 mm
Weight
363 gr
ISBN-13
978-1-74216-929-3 (9781742169293)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
05/2016
1st Edition
Wrightbooks
€14.99
Available for download
E-Book
01/2012
1st Edition
Wrightbooks
€14.99
Available for download
Person
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.
Content
Acknowledgements ix
Introduction xi
1 It's not my fault - I didn't even know it was a mistake!
Mistake 1: defining a trading mistake (with Dr Van Tharp) 1
2 The horse goes in front of the cart
Mistake 2: jumping into the market before having learned the required skills (with David Hunt) 13
3 Failing to plan is planning to fail
Mistake 3: not having a clearly defined and documented trading plan (with Justine Pollard) 23
4 Get that monkey off my back
Mistake 4: not trusting your own ability (with Louise Bedford) 35
5 Nice knowing me
Mistake 5: not aligning your trading strengths (with Brett Steenbarger) 45
20 Most Common Trading Mistakes
6 Easy come, easy go
Mistake 6: overcomplicating the entry process (with Russell Sands) 57
7 Complex complexity
Mistake 7: making trading too complicated (with Davin Clarke) 65
8 Too many contracts, not enough shares
Mistake 8: not understanding money management (with Ryan Jones) 73
9 1000 per cent return in three days - sure, it happens all the time
Mistake 9: paying good money for a dodgy trading 'system' (with Wayne McDonell) 87
10 Heads, I win; tails, you lose!
Mistake 10: failing to understand the numbers (with Gary Stone) 97
11 Bet big to lose big
Mistake 11: misusing leverage and margin (with Christopher Tate) 111
12 What's the time, Mr Wolf?
Mistake 12: confusing time frames and trading strategies (with Jake Bernstein) 125
13 Where the ^!*# is the exit?
Mistake 13: not having a clearly defi ned exit strategy (with Larry Williams) 135
14 But the guy on TV said it would go up tomorrow!
Mistake 14: listening to the advice of media and others (with Glen Larson) 147
15 Half price and still too expensive
Mistake 15: averaging down (with Tom Scollon) 157
16 I'm right! The market's wrong
Mistake 16: lacking discipline (with Dr Harry Stanton) 165
17 The emotions of a robot
Mistake 17: emotive and subjective trading (Kel Butcher) 173
18 Overworked and underpaid
Mistake 18: overtrading (various) 185
19 Fat fingers, 10 000 too many, and busting trades
Mistake 19: operational errors (with John Robertson) 197
20 I'm sure I filed that somewhere .
Mistake 20: avoiding the paperwork (with Jason Cunningham) 207
Glossary 217
Index 225
Introduction xi
1 It's not my fault - I didn't even know it was a mistake!
Mistake 1: defining a trading mistake (with Dr Van Tharp) 1
2 The horse goes in front of the cart
Mistake 2: jumping into the market before having learned the required skills (with David Hunt) 13
3 Failing to plan is planning to fail
Mistake 3: not having a clearly defined and documented trading plan (with Justine Pollard) 23
4 Get that monkey off my back
Mistake 4: not trusting your own ability (with Louise Bedford) 35
5 Nice knowing me
Mistake 5: not aligning your trading strengths (with Brett Steenbarger) 45
20 Most Common Trading Mistakes
6 Easy come, easy go
Mistake 6: overcomplicating the entry process (with Russell Sands) 57
7 Complex complexity
Mistake 7: making trading too complicated (with Davin Clarke) 65
8 Too many contracts, not enough shares
Mistake 8: not understanding money management (with Ryan Jones) 73
9 1000 per cent return in three days - sure, it happens all the time
Mistake 9: paying good money for a dodgy trading 'system' (with Wayne McDonell) 87
10 Heads, I win; tails, you lose!
Mistake 10: failing to understand the numbers (with Gary Stone) 97
11 Bet big to lose big
Mistake 11: misusing leverage and margin (with Christopher Tate) 111
12 What's the time, Mr Wolf?
Mistake 12: confusing time frames and trading strategies (with Jake Bernstein) 125
13 Where the ^!*# is the exit?
Mistake 13: not having a clearly defi ned exit strategy (with Larry Williams) 135
14 But the guy on TV said it would go up tomorrow!
Mistake 14: listening to the advice of media and others (with Glen Larson) 147
15 Half price and still too expensive
Mistake 15: averaging down (with Tom Scollon) 157
16 I'm right! The market's wrong
Mistake 16: lacking discipline (with Dr Harry Stanton) 165
17 The emotions of a robot
Mistake 17: emotive and subjective trading (Kel Butcher) 173
18 Overworked and underpaid
Mistake 18: overtrading (various) 185
19 Fat fingers, 10 000 too many, and busting trades
Mistake 19: operational errors (with John Robertson) 197
20 I'm sure I filed that somewhere .
Mistake 20: avoiding the paperwork (with Jason Cunningham) 207
Glossary 217
Index 225