20 most common trading mistakes: and how you can avoid them

This is a book about trading mistakes. It is not, however, a negative book. Each mistake is followed with the information and steps you can take to ensure these mistakes need not happen to you. The mistakes discussed within the pages of this book are the more common mistakes made by traders in general, the world over, regardless of the markets they trade. They apply to stock market traders, foreign exchange traders, traders using tic charts to scalp the equity indexes, traders using long-term breakout systems to trade futures or stocks, and everything else in between. While the title refers to 20 mistakes, there are actually far more than that covered within the examples and experiences shared by the interviewees. I encourage you to read and study the contents of each chapter carefully and look out for the hidden gems. Often the remedies for the varying mistakes are similar — one remedy might cure a number of ills.

Trading is a wonderful business for those prepared to take the time to learn about themselves and the markets and to do the hard work necessary to become consistently successful. Disciplined, patient and consistent traders will be well rewarded for the time and effort they put in. Those who lack discipline and patience will suffer at the hands of the master of fear and the mistress of greed. They will bounce around from one idea to the next, one broker to the next and one system to the next with no clear plan in place for what they are doing and what they hope to achieve. Eventually they will dwindle away their trading accounts to zero, or stop trading altogether through frustration and stress.