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Top 10 trading mistakes per Jim Wycoff
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Top 10 trading mistakes per Jim Wycoff

  #1 (permalink)
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Top 10 trading mistakes per Jim Wycoff

Read this article and thought it was very interesting how Wycoff's list re-iterates several of the threads on futures.io (formerly BMT).
Wycoff's list in no particular order:

1. Failure to have a trading plan in place before a trade is executed.

2. Inadequate trading assets or improper money management.

3. Expectations that are too high, too soon.

4. Failure to use protective stops.

5. Lack of patience and discipline.

6. Trading against the trend - trying to pick tops and bottoms.

7A. Rising losing positions too long
7B. Adding to a losing position.

8. Over trading.

9. Failure to accept complete responsibility for you own actions.

10. Not getting a bigger picture perspective on a market.

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Quick Summary
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http://www.futuresmag.com/Issues/2011/January-2011/Pages/Top-10-trading-mistakes.aspx


Last edited by gulabv; January 9th, 2011 at 05:00 PM. Reason: added link to article
 
  #3 (permalink)
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gulabv View Post
Read this article and thought it was very interesting how Wycoff's list re-iterates several of the threads on futures.io (formerly BMT).
Wycoff's list in no particular order:

1. Failure to have a trading plan in place before a trade is executed.

2. Inadequate trading assets or improper money management.

3. Expectations that are too high, too soon.

4. Failure to use protective stops.

5. Lack of patience and discipline.

6. Trading against the trend - trying to pick tops and bottoms.

7A. Rising losing positions too long
7B. Adding to a losing position.

8. Over trading.

9. Failure to accept complete responsibility for you own actions.

10. Not getting a bigger picture perspective on a market.

Sounds like my rookie years as a trader. Not only did I commit every one of those ... but I perfected several of them into an art form.

Good thing I ran out of money or I would have lost a lot more...

Maybe I should have posted that in the One Liner thread.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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