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Strategies & Market Trends : The Best Day Trader Training

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To: JB2 who wrote (191)4/8/1999 12:09:00 PM
From: Cash   of 230
 
In a day-trading firm (I can't speak of other trading), questionable things I've seen people do that in the long wrong, give them problems:
1. Adding to a bad position
2. Not getting out of a losing position in a timely manner... aka letting losers run and cutting winners short
3. Upon entering a position, not having a definite strategy for exiting that position
4. Not trading with a plan
5. Trading with someone else's plan (what works for them doesn't necessarily work for you)
6. Having the "Right" attitude. ("I KNOW I'm right!")
7. Not admitting they're wrong.
8. Staying in positions that don't act like you expected them to when you got in them.
9. Needing to make money.
10. If this were an octal world, I would've been done with this list 2 lines earlier.
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