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 driver?
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!
David Chandler
For free mini-course on stock and options trading click the following link:
http://www.StockMarketGenie.com
Or visit our blog at: http://stockmarketgenie.blogspot.com/
Ordinar y People Making Extraordinary Profits!
The above comments are offered for educational purposes only. 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.
I am sure that if you have a brokerage account... Read More
Now where have I heard that before? I know. It... Read More
The stock market is very unstable at this time going... Read More
When it comes to mutual funds, there is a lot... Read More
The demand for world oil is increasing while world reserves... Read More
As I said in Part I everyone in the insane... Read More
Every successful trader has a winning system. There are of... Read More
Having lived aboard a sailboat for 2 years I was... Read More
I often hear from people, "I don't trade. I invest.... Read More
Because there are so many stocks that are NOT paying... Read More
Let's hope you did not have any of the Enron... Read More
I was devastated!I just couldn't believe it. I was 10... Read More
What! Me worry?Many of you remember the cover of MAD... Read More
Because you don't feel too sure about which stock or... Read More
You probably know the story of Sherlock Holmes and the... Read More
As I have said many times before in this column... Read More
The gleam and bright lights of Wall Street lure in... Read More
Wouldn't it be nice if you were only in the... Read More
This is a guide to the different types of mutual... Read More
Economists know more about how the fragments of society work... Read More
One of the great "secrets" of successful people is discipline... Read More
The Shadow knows. There used to be a radio program... Read More
After finding the price of a particular stock, usually the... Read More
Jack and Jill went up the hill to fetch a... Read More
Outlined below are some of the advantages and disadvantages of... Read More
With the internet such a huge part of our daily... Read More
Intervention. Now don't let that big word scare you. The... Read More
Before we get into all the good news out there,... Read More
You have a lock on your house. You have a... Read More
I made my very first investment in the stock market... Read More
If there is one term over-used when talking about making... Read More
Fundamental analysis.Fundamentals analysis says the best way to predict the... Read More
If you don't know what a Roth IRA is then... Read More
Analyzing growth stocks is an important focus for any investor.... Read More
I receive emails from Morningstar. This company provides statistics and... Read More
It has been said that low cost or even free... Read More
Have you seen all those big full page ads for... Read More
A common problem I often see when working with living... Read More
If you're a normal human being, your need to feel... Read More
You have a lock on your house. You have a... Read More
In today's volatile and confusing stock markets everyone is searching... Read More
Ever have one of those sample boxes of candy? Each... Read More
(1) CHK stock price $16.74, NAV $32.5CHK is my favorite... Read More
As I have said many times before in this column... Read More
Most advisors will tell you they can beat the market.... Read More
Everyone who invests in the stock market wants to be... Read More
There has been great condemnation recently because China has been... Read More
Let's discuss commodities; with the latest Enron situation, it is... Read More
If you go to Haiti or other places in the... Read More
Why? Because I am going to shatter your conventional wisdom... Read More
There is a current movie entitled "Eternal Sunshine of the... Read More
Wall Street has been preaching the doctrine of Buy and... Read More
Are hedge funds a suitable investment for you? Hedge funds... Read More
Has your broker been calling you recently with the "great... Read More
When you invest in the stock market for ever-increasing cash... Read More
The stock market is very unstable at this time going... Read More
Mutual funds by definition are a mixed bag of stocks,... Read More
For weeks, no, months we have been bombarded with nothing... Read More
I was recently interviewed for a press release through a... Read More
Investors who exclusively use broadly diversified, no load mutual funds... Read More
When it comes to mutual funds, there is a lot... Read More
Every broker and financial planner will tell you that you... Read More
One of the most believed bits of conventional wisdom from... Read More
There are many important things you need to know to... Read More
Reduce your investing and stock market risks by:Setting your sights... Read More
You probably know the story of Sherlock Holmes and the... Read More
Stocks & Mutual Fund |