What is the biggest trading mistake you have made?

[Mr. Charts]

Worked in Somerfields for 18 hours over the weekend to create a starting fund to trade and lost it on Sunday night.
I didn't even know what a candlestick was.

Now you know.........

 

[mrsoul]

Missing a trade by reading stupid threads on t2w

It's very funny you say that mr.charts, I was reading your post then I went back to my trading platform and found out I missed a great trade because I was reading this thread.
From now on, I am only going on t2w when the market is real slow this way I will never miss a trade for that reason.

"When in doubt stay out"

 

[Mr. Charts]

It's very funny you say that mr.charts, I was reading your post then I went back to my trading platform and found out I missed a great trade because I was reading this thread.
From now on, I am only going on t2w when the market is real slow this way I will never miss a trade for that reason.

"When in doubt stay out"

BTW, I didn't mean this was a stupid thread

 

[HartleyHare]

Ok hi everyone - my first post on here - have lurked for years but never felt I had anything constructive to offer - seeing as we are in confessional mood, my dumbest mistake was to give £50K to Profits Prophets in the belief that they would be a better job than I had been able to up to that point !!! Needless to say the sick feeling has past, but I will feel stupid to the day I die !!!! It took the Wife quite some time to forgive me that one .......

 

[montmorencyt2w]

Ok hi everyone - my first post on here - have lurked for years but never felt I had anything constructive to offer - seeing as we are in confessional mood, my dumbest mistake was to give £50K to Profits Prophets in the belief that they would be a better job than I had been able to up to that point !!! Needless to say the sick feeling has past, but I will feel stupid to the day I die !!!! It took the Wife quite some time to forgive me that one .......

Blimey Lurker, you even live in Lurca
oh, sorry, Lorca ...

Made most of the mistakes mentioned in the foregoing replies: chasing losers, adding to losers, following tips, overtrading, trading live while still wearing "L" plates, etc. The most annoying one is to let a big winner become a loser :-( Perhaps the stupidest were to confuse a few lucky wins with having natural skill....

 

[Lord Flasheart]

Yep Ive done all of those except pay for a signal service( i always believed I was better). I guess the worst was knowing I was going to lose because Id seen the pattern before many times and knew exactly what would happen but still refused to reverse my position. Great thread

 

[mrsoul]

Yep Ive done all of those except pay for a signal service( i always believed I was better). I guess the worst was knowing I was going to lose because Id seen the pattern before many times and knew exactly what would happen but still refused to reverse my position. Great thread

Isn't that an unbelievable phenomenon Julian, being in a trade and knowing you are going to lose but being frozen into staying with the losing trade- been there myself.

I think a highly defined trading plan would eliminate this.

 

[mrsoul]

Blimey Lurker, you even live in Lurca
oh, sorry, Lorca ...

Made most of the mistakes mentioned in the foregoing replies: chasing losers, adding to losers, following tips, overtrading, trading live while still wearing "L" plates, etc. The most annoying one is to let a big winner become a loser :-( Perhaps the stupidest were to confuse a few lucky wins with having natural skill....

Hey Mont,

Happy Trading- fewer better!

 

[white4burgundy]

mistaken start

What is the biggest trading mistake you have made?

Mine was not learning enough before I started.

This is a real hump - to start with insufficient learning. What is good however, is that you learned the lesson. Too bad, the lesson came after test.

 

[gooseman]

over thinking-generally my first instinct turns out to be correct in taking a trade.

 

[ian23]

Overtrading, i used to feel guilty if i catch the early morning move and make my bucks for the day. Then i think ok i can't just relax and watch movies all day while everybody is working and since i have a good start this morning lets trade the crap out of this market 9 to 5. Most times i end up giving that morning bliss back in a slow midday market.