Monday, March 19, 2007
Article: Trading Without Ego
by Ruth Barrons Roosevelt
Make no mistake about it. A trader's self concept has to be separate from the trading. Who you are as a person began before you ever thought of trading and who you will be as a person will extend beyond y more ...
posted by Novice Trader @ 10:02 am ::
::
Friday, March 16, 2007
Seven Deadly Trading Mistakes - Part Seven
by: Harvey Walsh
Mistake Number Seven - Not Taking Action
For every trader who opens a brokerage account and starts placing trades, there must be a hundred more who had every intention of doing so, but for one reason or another, n more ...
posted by Novice Trader @ 04:50 pm ::
::
Thursday, March 15, 2007
Seven Deadly Trading Mistakes - Part Six
by: Harvey Walsh
Mistake Number Six - Overcomplicating It
It's easy to get caught up in the details, but if we take a step back for a moment, trading really need not be complicated at all. Finding a strategy to work with can take as long or short a time as you like - there are plenty available off the shelf (including within my own course, naturally!) Formalising that strategy into a written personal trading plan is something that requires only a couple of hours of time up front - after that it can be refined and added to as you go along.
So already we see that very quickly we can get to the stage where we are ready to begin simulated or "paper" trading. And it's at this stage where lots of traders really start to overcomplicate matters.
more ...
posted by Novice Trader @ 06:42 pm ::
::
Wednesday, March 14, 2007
Seven Deadly Trading Mistakes - Part Five
by: Harvey Walsh
Mistake Number Five - Not Putting In The Required Effort
It's a strange phenomenon that seems almost unique to the field of internet trading; people believe that they can read a book, open an brokerage account, and start making huge amounts of cash just like that.
I used the analogy of an airline pilot in the last article, so lets continue with that theme here. Not many people would expect to decide on Monday that they wanted to fly long-haul airliners, buy and read a book on the principals of flight on Tuesday, and start work as a Captain on Wednesday. But with trading, such a short learning curve appears to many to be perfectly expected.
Whilst I certainly agree that, proportionally in relation to other activites day trading can provide much greater more ...
posted by Novice Trader @ 11:30 pm ::
::
Tuesday, March 13, 2007
Seven Deadly Trading Mistakes - Part Four
by: Harvey Walsh
Mistake Number Four - Not Testing
Trading is a great business, it offers potential levels of income and freedom that most people can only dream of. So it's quite natural that having got the groundwork out of the way, the novice trader is eager to get clicking those buy and sell buttons and see the profits roll in. But hang on - the preparation isn't over yet!
Imagine for a moment that you decided you wanted to become an airliner pilot. You spent time and effort researching the type of aircraft you were going to pilot, you read some books on how to fly, and one day you found yourself in the cockpit at the end of the runway. Clearly, without having actually taken some time to learn how to fly this machine full of passengers, more ...
posted by Novice Trader @ 11:26 pm ::
::
Monday, March 12, 2007
Seven Deadly Trading Mistakes - Part Three
by: Harvey Walsh
So far we've looked at how not sticking to a strategy, and not planning our trading will inevitably lead us to loss. Now I want to talk about one aspect of planning in more detail - money management.
You're probably thinking that's a really really boring subject, but before you decide to skip this article, let me say that money management isn't just about making sure you survive long enough to turn a profit, it can also open up whole new trading opportunities to you.
Mistake Number Three - Not Understanding Money Management
There are two distinct sides to this subject, and for some unknown reason, most people only ever talk about one of those - survival - or what I call classic money management. more ...
posted by Novice Trader @ 11:16 pm ::
::
My Trade Diary
name: Novice Trader 
