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What's the worst trading method you've ever traded?
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What's the worst trading method you've ever traded?

  #1 (permalink)
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Jugador's Avatar
 
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What's the worst trading method you've ever traded?

What was the worst trading method (system, indicator, strategy...etc) you guys ever traded?

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Detroit
 
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Platform: market delta, multicharts, no matter how hard i try not too, i still use ninjatrader
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Well I started my trading career in the mid 90's - Started out trading options. I was coming home late one night and was listening to a radio show and only caught about the last minute of it, but something made stop and write down the 1-800 number. A couple of weeks later I get a package in the mail with a book and tapes and a video... Had some time off and plugged in the vid... Now I didnt know anything about the markets... Stock to me was cattle...that is about how much I knew about the markets... Anyways,... the system that I got was from WADE COOK... (some of you may remember him) Anyways, it at least get me started down the road of trading... I believe he is in jail now or was. But shoot I lost a lot of money with his system. To this day I have never bought a stock... I trade anything with leverage...

Cheers - spx

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  #4 (permalink)
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spx_tdr View Post
Stock to me was cattle...that is about how much I knew about the markets...

lol...good one.

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  #5 (permalink)
Trading Apprentice
Vancouver Washington United State of America
 
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worst trading method

Emotion (your gut): ignoring your written plan or trading without one all together.

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  #6 (permalink)
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I swear to god if you open up any trading software for the first time without modifying the charts you'll see the worst combinations of bar types, colors, indicators etc. This is pretty much ubiquitous and almost comical. I have no idea why software designers do this but it's not very conducive to someone starting off on the right foot lol. Other than that I'd probably have to say the worst systems are ones that suggest any sort of martingale betting approach, astrology, or trading without a stop loss or proper hedging.


Last edited by Itchymoku; February 10th, 2014 at 12:25 AM.
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  #7 (permalink)
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Buying high and selling low.

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  #8 (permalink)
Market Wizard
Cleveland Ohio/United States
 
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Averaging down, aka adding to losers.

This might be good to do with regular investments in mutual funds, but it is a killer in leveraged instruments.

The scary thing is you can do it successfully a lot of times, and never get burned. But eventually, you will get burned.

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Absolutely...


kevinkdog View Post
Averaging down, aka adding to losers.

This might be good to do with regular investments in mutual funds, but it is a killer in leveraged instruments.

The scary thing is you can do it successfully a lot of times, and never get burned. But eventually, you will get burned.

correct. The worst practice possible is to grow and cultivate losers by adding more mistake to the initial mistake. One of the worst characteristics of this horrible bad practice is that if you get away with it bad decision will be reinforced and you will do it again.

Kill losers when they are little, period.

Yes I've done it and won but I've also done it and added years to the "walkin away number".

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