The 10 Dumbest Things I Used To Do As A Trader

The 10 Dumbest Things I Used To Do As A Trader

1. I attempted to swing trade the March 2000-2002 melt down that was in a down trend.

2. I went long with in days of the bottom in March of 2009 but was shaken out by the volatility and missed 2,000 points of the $DJIA rally by waiting for a pull back after being stopped out. I should have traded smaller and started buying after the $DJIA was down 50%.

3. I use to expose my account to 10% of risk at one time.

4. I use to trade one stock with all my available capital.

5. I didn’t roll weekly options that were profitable and allowed them to get too deep in the money until they became illiquid.

6. I use to trade my opinions trying to out smart the market.

7. I traded with no trading plan just making it up as I went.

8. I use to trade systems before back-testing them through multiple market environments.

9. I use to let emotions make my trading decisions, my entries and exits were due to fear and greed.

10. I really thought I knew something after trading successfully for a five years when in reality I knew nothing, I was just using the right system in the right market and was just lucky with little skill. I just had some natural inclinations to do the right things at the right times.