http://www.thestockbandit.net/2006/01/09/small-mistakes/ Trading blog with trading insights, discussion on swing trading, day trading, and trading psychology. Fri, 16 May 2008 05:31:21 +0000 http://wordpress.org/?v=2.0.9 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-34590 Sat, 10 Nov 2007 17:13:31 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-34590 [...] Here are a few articles about my trading style… *Deciding if a Stock is Trade-Worthy *Small Mistakes = Small Consequences *Goal Number 1 *The Day After *Check Your Rolex *Another Definition of Trading [...] […] Here are a few articles about my trading style… *Deciding if a Stock is Trade-Worthy *Small Mistakes = Small Consequences *Goal Number 1 *The Day After *Check Your Rolex *Another Definition of Trading […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-3688 Thu, 28 Dec 2006 04:13:07 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-3688 [...] Whatever your plans are for trading in 2007, remember that small mistakes add up slowly, keep Goal Number 1 at the top of your list, and honor those stops at all times! [...] […] Whatever your plans are for trading in 2007, remember that small mistakes add up slowly, keep Goal Number 1 at the top of your list, and honor those stops at all times! […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-3682 Wed, 27 Dec 2006 23:31:09 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-3682 [...] And last but not least are those trades which haven’t yet proven themselves. These are the trades that deserve the least amount of credit, and a hard stop should be in place at all times for the full amount if these trades start to misbehave. With commission costs so low, there’s simply no excuse for keeping a position once it begins to cost you money. Cut that thing quick, get it off your screen, and re-buy it later if you start to see signs of promise again. In the meantime, kick it to the curb and look for a better opportunity (even if that means going to cash). [...] […] And last but not least are those trades which haven’t yet proven themselves. These are the trades that deserve the least amount of credit, and a hard stop should be in place at all times for the full amount if these trades start to misbehave. With commission costs so low, there’s simply no excuse for keeping a position once it begins to cost you money. Cut that thing quick, get it off your screen, and re-buy it later if you start to see signs of promise again. In the meantime, kick it to the curb and look for a better opportunity (even if that means going to cash). […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-287 Mon, 15 May 2006 04:31:35 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-287 [...] Trading will always bring both successes and failures our way, but our job is to manage them properly. We all know to keep losses small, but sometimes it’s hard to take profits when a trade is working so well. It was tempting to stay in TGB and really try to push it to the limit to see just how much of a gain it could provide in a short amount of time. [...] […] Trading will always bring both successes and failures our way, but our job is to manage them properly. We all know to keep losses small, but sometimes it’s hard to take profits when a trade is working so well. It was tempting to stay in TGB and really try to push it to the limit to see just how much of a gain it could provide in a short amount of time. […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-279 Mon, 08 May 2006 16:52:49 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-279 [...] Beginning traders should start slowly and learn the rules of the road from actual experience. Early on, trade with real money in your account (not in “demo” mode). Trade in small lots until you are able to see some progress with your results. Only after you reach that point will it be wise to increase your trade size and exposure to risk by trading more aggressively. Pressing matters too early in your career will lead to underperformance anxiety, which only leads to more poor decisions and painful losses. That in turn will lead to an early exit from your trading career. Not good! [...] […] Beginning traders should start slowly and learn the rules of the road from actual experience. Early on, trade with real money in your account (not in “demo” mode). Trade in small lots until you are able to see some progress with your results. Only after you reach that point will it be wise to increase your trade size and exposure to risk by trading more aggressively. Pressing matters too early in your career will lead to underperformance anxiety, which only leads to more poor decisions and painful losses. That in turn will lead to an early exit from your trading career. Not good! […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-78 Wed, 12 Apr 2006 21:41:58 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-78 [...] Small Mistakes = Small Consequences [...] […] Small Mistakes = Small Consequences […]

]]> http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-58 Wed, 29 Mar 2006 18:32:26 +0000 http://www.thestockbandit.net/2006/01/09/small-mistakes/#comment-58 [...] Obeying stops is one habit we can all be reminded to check. It’s easy to “just give it a little more room” and soon after realize that you’re in a spot where you feel it’s too late to exit (which is never true). Doing your homework is always a great habit to be in. Showing up with your game face is another one. Remember how small mistakes = small consequences? Habits like those can keep you on the right track as a trader and pay off nicely as time goes by. Making a habit just to show up prepared every day for whatever the market throws at you can have a tremendous impact on your progress and consistency as a trader….not to mention your P&L! Baby Steps worked for Bob Wiley! Little habits and constant progress end up making a big difference. [...] […] Obeying stops is one habit we can all be reminded to check. It’s easy to “just give it a little more room” and soon after realize that you’re in a spot where you feel it’s too late to exit (which is never true). Doing your homework is always a great habit to be in. Showing up with your game face is another one. Remember how small mistakes = small consequences? Habits like those can keep you on the right track as a trader and pay off nicely as time goes by. Making a habit just to show up prepared every day for whatever the market throws at you can have a tremendous impact on your progress and consistency as a trader….not to mention your P&L! Baby Steps worked for Bob Wiley! Little habits and constant progress end up making a big difference. […]

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