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The Seven Mistakes All Novice Traders Make and How to Correct Them
By David Chandler
Hi!
We learnt the following the hard way! If any of these things
applies to you, don't worry - there is an easy solution!
MISTAKE ONE
Lack of Knowledge and No Plan
It amazes us that some people expect to trade the stock market
successfully without any effort. Yet if they want to take up golf, for
example, they will happily take some lessons or at least read a
book before heading out onto the course.
The stock market is not the place for the ill informed. But learning
what you need is straightforward - you just need someone to
show you the way.
The opposite extreme of this is those traders who spend their life
looking for the Holy Grail of trading! Been there, done that!
The truth is, there is no Holy Grail. But the good news is that you
don't need it. Our trading system is highly successful, easy to learn
and low risk.
MISTAKE TWO
Unrealistic Expectations
Many novice traders expect to make a gazillion dollars by next
Thursday. Or they start to write out their resignation letter before
they have even placed their first trade!
Now, don't get us wrong. The stock market can be a great way to
replace your current income and for creating wealth but it does
require time. Not a lot, but some.
So don't tell your boss where to put his job, just yet!
Other beginners think that trading can be 100% accurate all the
time. Of course this is unrealistic. But the best thing is that with
our methods you only need to get 50-60% of your trades "right" to
be successful and highly profitable.
MISTAKE THREE
Listening to Others
When traders first start out they often feel like they know nothing
and that everyone else has the answers. So they listen to all the
news reports and so called "experts" and get totally confused.
And they take "tips" from their buddy, who got it from some cab
driverˇ
We will show you how you can get to know everything you need to
know and so never have to listen to anyone else, ever again!
MISTAKE FOUR
Getting in the Way
By this we mean letting your ego or your emotions get in the way
of doing what you know you need to do.
When you first start to trade it is very difficult to control your
emotions. Fear and greed can be overwhelming. Lack of discipline;
lack of patience and over confidence are just some of the other
problems that we all face.
It is critical you understand how to control this side of trading.
There is also one other key that almost no one seems to talk
about. But more on this another time!
MISTAKE FIVE
Poor Money Management
It never ceases to amaze us how many traders don't understand
the critical nature of money management and the related area of
risk management.
This is a critical aspect of trading. If you don't get this right you not
only won't be successful, you won't survive!
Fortunately, it is not complex to address and the simple steps we
can show you will ensure that you don't "blow up" and that you
get to keep your profits.
MISTAKE SIX
Only Trading Market in One Direction
Most new traders only learn how to trade a rising market. And very
few traders know really good strategies for trading in a falling
market.
If you don't learn to trade "both" sides of the market, you are
drastically limiting the number of trades you can take. And this
limits the amount of money you can make.
We can show you a simple strategy that allows you to profit when
stocks fall.
MISTAKE SEVEN
Overtrading
Most traders new to trading feel they have to be in the market all
the time to make any real money. And they see trading
opportunities when they're not even there (we've been there too).
We can show you simple techniques that ensure you only "pull the
trigger" when you should. And how trading less can actually make
you more!
See you all next time
Trade Well and the $$ Will Flow!
David
PS. We are not providing you with financial advice. We are simply
sharing with you what has and hasn't worked for us personally. If
you wish to trade or invest in the stock market you should obtain
advice from a registered licensed advisor.
Visit our website: http://www.stockmarketgenie.com
About the Author
David Chandler
http://www.stockmarketgenie.com
For your FREE Stock Market Trading Mini Course:
"What The Wall Street Hot Shots Won't Tell You!" go to: http://www.stockmarketgenie.com
Article Source: http://www.simplysearch4it.com/article/6185.html
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