TOTW What's the dumbest trade mistake you ever made?

[DiggerOfTruth]

Why was the other SCAM broker - ******** - ******'d out??? in your quote of my post??

I don't say these things lightly.

Yadix on the other hand is a decent broker (even though I lost $$$ they were not the ones doing the sabotage).

 

[iMusingKiMi]

I don't know. I have heard a lot of trader saying broker plugging in something to attack their account, chasing their SL everything. We have to remind ourselves, we are just a small prawn in a big sea out there. Therefore no reason a regulated broker and I think their reputation is not that bad messed up with his customer and gotten their license revoked. Maybe I agree no absolutely clean broker, if the problem about chasing stop losses etc, forget about it. We have to trade with responsibility, and we have to take responsible on every trade we have made, not blaming broker.

 

[malaguti]

I don't know. I have heard a lot of trader saying broker plugging in something to attack their account, chasing their SL everything. We have to remind ourselves, we are just a small prawn in a big sea out there. Therefore no reason a regulated broker and I think their reputation is not that bad messed up with his customer and gotten their license revoked. Maybe I agree no absolutely clean broker, if the problem about chasing stop losses etc, forget about it. We have to trade with responsibility, and we have to take responsible on every trade we have made, not blaming broker.

this is a thread about mistakes we've made, so rather than being sanctimonious, why not tell us your mistakes rather than belittle those that have

 

[darktone]

this is a thread about mistakes we've made, so rather than being sanctimonious, why not tell us your mistakes rather than belittle those that have

He raises a good point tho mal. Blaming your broker etc etc etc rather than considering the more probable 'im a crap trader'. A common mistake.

 

[iMusingKiMi]

this is a thread about mistakes we've made, so rather than being sanctimonious, why not tell us your mistakes rather than belittle those that have

Hi Mal,
I am pretty obvious I always does some mistake. It is because 1 reasons, I am type of rule-based discretionary trader, sometime I did mistakes. I believe it is better than a non rule based discretionary trader, that never realize their own problem with blaming this and that. When you start to blame other on your loss of trades, it means you have a problem or mistake you haven't realize yet and the simple was still haven't know what is called be responsible on your own trade. That's what in my opinion and I believe I did went through those stages before. Of course, just my 2 cents of view.

 

[malaguti]

He raises a good point tho mal. Blaming your broker etc etc etc rather than considering the more probable 'im a crap trader'. A common mistake.

I agree completely. Blaming the broker is a mistake, choosing the wrong broker also in the first place is a mistake.
My own mistake was a stupid mistake that could easily have been avoided. Thats why we are all posting. I don't need to be shown a video on placing a stop loss, not placing too high a trade, not leaving the trade in the hands of another person and telling me it was my fault.

This thread dies quickly when instead of being able to laugh it off and learning from the experience, feeling part of a group that probably have all done the same and sharing these mistakes we have somebody with the benefit of hindsight (which we now already have) to give us pearls of wisdom.

 

[iMusingKiMi]

He raises a good point tho mal. Blaming your broker etc etc etc rather than considering the more probable 'im a crap trader'. A common mistake.

It is ok mate, he is not the first time challenging my post. I did start on a journal with a USD 20,000 screenshot account growth and I update daily on my journal. But he still can mentioned in his opinion it might be USD 5,000 with accumulated of 4 losses. I am pretty curious and wondering what he seen on the screenshot because it is written there BALANCE instead of LOSS words. So I don't know where did he saw the 4 accumulative of USD 5,000 losses. Pretty funny statement to me on his post.

 

[iMusingKiMi]

I agree completely. Blaming the broker is a mistake, choosing the wrong broker also in the first place is a mistake.
My own mistake was a stupid mistake that could easily have been avoided. Thats why we are all posting. I don't need to be shown a video on placing a stop loss, not placing too high a trade, not leaving the trade in the hands of another person and telling me it was my fault.

This thread dies quickly when instead of being able to laugh it off and learning from the experience, feeling part of a group that probably have all done the same and sharing these mistakes we have somebody with the benefit of hindsight (which we now already have) to give us pearls of wisdom.

I am not laughing anyone. I have written a statement of no offense with a video. If you can't accept people showing the right path, then Trading Journey might not suitable to you anymore. You are the one who challenge from my journal with some pretty funny statement.

 

[malaguti]

It is ok mate, he is not the first time challenging my post. I did start on a journal with a USD 20,000 screenshot account growth and I update daily on my journal. But he still can mentioned in his opinion it might be USD 5,000 with accumulated of 4 losses. I am pretty curious and wondering what he seen on the screenshot because it is written there BALANCE instead of LOSS words. So I don't know where did he saw the 4 accumulative of USD 5,000 losses. Pretty funny statement to me on his post.

what are you on about?

 

[iMusingKiMi]

I also don't know what I am all about, but I think I should ask you what are you all about? This is the statement you post on my journal. Don't you find your post is pretty funny with your imagination? Probably you have delete that, but I kept the email of funny posting to me. Hope you enjoyed your post.

 

[tar]

fight ?

 

[malaguti]

​

I also don't know what I am all about, but I think I should ask you what are you all about? This is the statement you post on my journal. Don't you find your post is pretty funny with your imagination? Probably you have delete that, but I kept the email of funny posting to me. Hope you enjoyed your post.

Possibly I deleted it, because I realised it wasn't necessary. had you thought of that?
I'm glad though you found humour in it though and touched that you would keep emails from me
And I take it back, this is indeed the right thread for you.

 

[iMusingKiMi]

fight ?

I think not a fight maybe. I am just curious why this guy love to chase on my post with some funny quote.

 

[iMusingKiMi]

​

Possibly I deleted it, because I realised it wasn't necessary. had you thought of that?
I'm glad though you found humour in it though and touched that you would keep emails from me
And I take it back, this is indeed the right thread for you.

LAMA technique by Judy McKee might suitable for you. Listen, Acknowledgment, Make a statement, Ask a question. But it seems to me you has jump through L and A with directly to M and A. That's make more humor on the post.:cheesy:

 

[iMusingKiMi]

So I think this is a pretty good example just as in trading. It is just different from forum posting and trading. A trader usually hide his mistake, and try to covering up by blaming broker, fundamental news, disaster or whatsoever. But actually, they didn't realize they have actually making mistake. Drink responsible, Drive Responsible, As Well As Trade Responsible. The greatest enemy in the world is yourself, if you wanna lie to yourself and can't beat yourself by admitting your own mistake, you can't be profitable long term in trading.

 

[SpreadDoctor]

I have made many mistakes and continue to do so. Here are a few in no particular order:

1. Losing £7k in one trade because I was stubborn.
2. Letting a larger winning trade come back for a loser.
3. Being influenced by countless people who did not know how to trade profitably.
4. Being influenced by companies who's only goal is to take my money.
5. Making £11k on one trade and putting it down to skill when it was pure luck.
6. Letting the market trick me into trading rather than sitting back calmly and waiting for it to come to me - i.e. letting the market be my bitch. lol
7. Listening to traders who have been in the game less than 10 years.
8. Thinking trading was all about excitement, high fiving each other, high octane. Reality is if you are a home trader it's lonely and tedious, if you are a prop trader the floor is largely silent apart from the occasional burst of anger when someone does their account and smashes something.

I distinctly remember physically crying over #1 and I am not a blubber. GL

remembered another one that has cost me:

9. Dont EVER listen to another persons opinion unless they have money on the line. Even if they do have money on the line be wary of other peoples opinion

 

[robster970]

remembered another one that has cost me:

9. Dont EVER listen to another persons opinion unless they have money on the line. Even if they do have money on the line be wary of other peoples opinion

I find this problematic even when people have money on the line. Solo pursuit for me I'm afraid. Other peoples views often dilute my own evaluations.

 

[aliasentric]

I have 2:

1) Trading at a time when I don't pay attention to the fact that it's not a good time to trade
2) Knowing it's not a good time to trade, but trading anyway

 

[DiggerOfTruth]

Here is a good way to find out if a broker is a bucketshop: before you finally install their MT4 platform, CHECK THE MEGABYTES you downloaded from them. If they are over 20MB, you just downloaded/installed their Virtual Dealer Plugin that they WILL use against you to sabotage your trades.

As mentioned, I know that ThinkForex and H-O-TForex , HOT-Forex (I am trying to get this past the censors here...) both secretly hide this evil software in their MT4 platforms without telling us, of course.

Being aware of this one fact can save you a ton of money and heartache and anger.

 

[Als]

careless clicking to close at small profit (wanted more why was frustrated)
when trading manually
(mouse pointer sliped from ok button)
half a sec later it was break even
wanted just a price jerk of several decimals in positive to pay comission and lingered to click-close
a sec later it was already a hefty loss (in scalping sense)
next anger with myself followed! (coz don't close in minus)
then seeing countertrend emerged.........

f..ck! long waiting again!

luckily next day this trade was closed with small profit
so as main trend returned

if not my carelesness
simple neat clicking to exit and thus getting possibility of reentering at better level could have brought charming profit

lesson learned
full concentration while trading!