| 1. Start to trade with high hopes of winning every time. | | | | This is easy to do. They soon learn it can have |
| You must treat your trading like a business and be | | | | devastating consequences not only financially, but |
| realistic. | | | | personally as well. |
| 2. Trade when they should not be trading. For some | | | | 8. Use their hard earned money that should be used |
| reason, they think they should always be trading. | | | | for their monthly bills or borrow money on their credit |
| 3. Rarely learn from their mistakes. If only they did, they | | | | cards. Most do not maintain strict discipline and ignore |
| would have a lot less stress. | | | | this standard rule which is: Never risk more then 2 |
| 4. Usually do not think through their thoughts and | | | | percent of your account per trade. Families have been |
| achieve horrible results. | | | | devastated when this standard rule is not followed. |
| 5. Do not use stops. Some professional traders believe | | | | Unfortunately, many do happen to learn the hard way. |
| that stops should always be used. | | | | Be very careful and don't trust anyone who |
| 6. Take enormous chances on a regular basis. | | | | guarantees you success in trading. It never ceases to |
| Enormous risks should be done only by the Pros. More | | | | amaze me how anyone can literally steal a person's |
| often than not, these chances are taken and can | | | | nest egg in order to build their own. Unfortunately, there |
| wreck havoc on lives. | | | | are people who do just that. |
| 7. Get distracted instead of focusing on their screen. | | | | |