Manoj's Trading Diary
- Thread starter manojborle
- Start date
You Might Be A Bad Trader If……
There are young people in the market that are really bad traders and there is also old traders that are very good, but there are no old bad traders in the market because they went broke and gave up a long time ago.
You might be a bad trader if……….
…your primary method is to try to call tops and pick bottoms.
“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.” -Bernard Baruch
You might be a bad trader if……….
…instead of benefiting from the 300 point run in Apple this year you actually lost money by fighting the trend.
“Cardinal Rule #1 is to sell short only during what you believe is a developing bear market, not a bull market.” -William O’Neil
You might be a bad trader if……….
…you risk so much on each trade that only a few bad trades in a row could wipe out your account.
By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.” Larry Hite
You might be a bad trader if……….
…you want to prove you are right more than you want to make money.
“Trading is not about being right. It is about putting money into the account. That’s it. Everything else is secondary.” -Ned Davis
You might be a bad trader if……….
…you buy junk stocks thinking they are a great price and short the best stocks in the market believing they are over priced.
“Forget the adage buy low and sell high (it’s “completely wrong,” he writes) and stop looking for bargains. “What seems too high in price and risky to the majority usually goes higher and what seems low and cheap usually goes lower.” -William O’Neil
In the spirit of Jeff Foxworthy’s: You might be a redneck comedy routine, here is my take on bad traders.
You Might be a Bad Trader if:
…You are 100% sure about a trade being a winner so you have no need to manage risk.
…You go all in on one trade and it will make you are break you.
…You like to buy deep out of the money stock options not understanding how bad the odds are on them.
…You love directly giving unsolicited advice to other traders due to not understanding they have different trading plans and time frames.
…You are so new to trading you think it is a place of easy money.
…You think traders that talk about risk management and trader psychology are silly and that you are above that.
…You brag to much about your account size and last trade, it indicates to me you do not understand the long term in the markets.
…You are very loud about your winners but never discuss your losing trades.
…You brag to much.
And You Might really be a bad trader if: If you attack trading principles that you do not even fully understand due to lack of real trading.
Source: http://newtraderu.com/tag/bad-trader/
There are young people in the market that are really bad traders and there is also old traders that are very good, but there are no old bad traders in the market because they went broke and gave up a long time ago.
You might be a bad trader if……….
…your primary method is to try to call tops and pick bottoms.
“Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.” -Bernard Baruch
You might be a bad trader if……….
…instead of benefiting from the 300 point run in Apple this year you actually lost money by fighting the trend.
“Cardinal Rule #1 is to sell short only during what you believe is a developing bear market, not a bull market.” -William O’Neil
You might be a bad trader if……….
…you risk so much on each trade that only a few bad trades in a row could wipe out your account.
By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.” Larry Hite
You might be a bad trader if……….
…you want to prove you are right more than you want to make money.
“Trading is not about being right. It is about putting money into the account. That’s it. Everything else is secondary.” -Ned Davis
You might be a bad trader if……….
…you buy junk stocks thinking they are a great price and short the best stocks in the market believing they are over priced.
“Forget the adage buy low and sell high (it’s “completely wrong,” he writes) and stop looking for bargains. “What seems too high in price and risky to the majority usually goes higher and what seems low and cheap usually goes lower.” -William O’Neil
In the spirit of Jeff Foxworthy’s: You might be a redneck comedy routine, here is my take on bad traders.
You Might be a Bad Trader if:
…You are 100% sure about a trade being a winner so you have no need to manage risk.
…You go all in on one trade and it will make you are break you.
…You like to buy deep out of the money stock options not understanding how bad the odds are on them.
…You love directly giving unsolicited advice to other traders due to not understanding they have different trading plans and time frames.
…You are so new to trading you think it is a place of easy money.
…You think traders that talk about risk management and trader psychology are silly and that you are above that.
…You brag to much about your account size and last trade, it indicates to me you do not understand the long term in the markets.
…You are very loud about your winners but never discuss your losing trades.
…You brag to much.
And You Might really be a bad trader if: If you attack trading principles that you do not even fully understand due to lack of real trading.
Source: http://newtraderu.com/tag/bad-trader/
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