3 Main Mistakes of a Trader
2017-11-25

 

1 Failure to understand who you are: a professional or an amateur

A professional has a command of trading technique which he can describe, apply and change.

An amateur can tell you how he works, but will never explain why.

2 Searching for the silver bullet*

*Silver bullet is a universal means that kills all demons

Without being a professional, the trader wants to make money on speculation, but he is not ready to master the principle of market organization and complex impacts; he always searches for a silver bullet which would allow to make money in one fell swoop.

This kind of trader periodically buys these magic silver bullets because there are so many available on the market.

3 No cause-and-effect system of trade

In trading, there are too many variables which implies a huge variety of possible approaches.

What can be systematized (Example: LRA), can be used, since the level of uncertainty can be, if not minimized, then significantly reduced.

Tom's Note

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