The Four Deadly On Line Stock Trading SinsProvided By Ultimate Trading Systems Dont Fall For These Simple On Line Stock Trading MistakesEveryone knows the seven deadly sins: pride, envy, gluttony, lust, anger, greed, and sloth. But did you know there are on line stock trading sins as well? Sins that are surprisingly similar to the seven sins, and that can be just as deadly to your on line stock trading career. The on line stock trading sins are: pride, envy, greed, and laziness. Im sure there is a way to work in the other three if I really try, but lets stick with these four, since they cause a great deal of difficulty to your on line stock trading career. But where do these on line stock trading sins come into play? From traders reactions to the markets. Most markets have predictable trends and repeated patterns. Why? Because most movements in the markets are a result of the motivations of the people in those markets. Many people say that what drives the markets is greed and fear. Greed makes people buy, and fear makes them sell. Greed and fear can actually benefit on line stock trading: Greed, or at least the desire to make money, is why we trade in the first place. Fear is a healthy response that occurs when we sense danger or disaster closing in, and it motivates us to get out of a bad on line stock trading situation. But when they get out of control, greed and fear are two of the basic psychological pitfalls that make on line stock trading fail. Other pitfalls include wanting to seem wise, or not admit to making mistakes (pride), trying to do what everyone else is doing because they seem to be doing better (envy), being unwilling to stop on line stock trading in case there is more money to be made (greed), and being too willing to follow advice and not investigate on your own when youre on line stock trading (laziness). If you want to improve your on line stock trading, you must identify the mistakes you make consistently so that you can recognize your own stumbling blocks. Look back at ten losing trades you've made in the last few weeks. Can you find any similarities? Look closely and be completely honest with yourself. Part of being good at on line stock trading is being able to look at things with a clear eye and seeing what's really there, not what you wish was there. Now here's the harder part: Look back at your recent successful on line stock trading endeavours and find the ones that succeeded only by luck. How would they have turned out if you hadn't been lucky? What were your mistakes with those trades? If youre not certain what your mistakes are, or how to correct them, read the next articles in this series. Ill be discussing each on line stock trading sin separately, with tips on how to overcome them. Your goal for on line stock trading should not be to trade perfectly all the time, to win on every trade, or to be perfect in any other way. Putting too much pressure on yourself to be perfect is one of the best ways to make lots of mistakes. Besides the fact that no one can be perfect, there's also the fact that you don't need to be perfect. You can make amazing amounts of money in the on line stock trading markets by being a good, consistent trader. In on line stock trading, you'll be richly rewarded if you do your job consistently and well. You'll be doing far better than 99% of the other people trading stocks in the market, not to mention money managers, analysts, and other so-called experts. The purpose of identifying your stumbling blocks is not to make you feel like you're bad at on line stock trading. All traders, even the best, have weaknesses - they just recognize and control those weaknesses. Instead, this process enables you to develop a realistic sense of your strengths and weaknesses so that you can recognize mistakes before they happen. Being realistic - about yourself, about the market, and about the trades you make - is the way to succeed at on line stock trading.
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