Dear Traders,
What do you think about listing all those factors that can go against a trade?
Not to be pessimistic-but realistic.
Recently, I placed a trade to buy Crude on Friday, but mistakenly placed it on the same months' contract, on the expiry day. Result: Went into Loss (When exchange squared it off at EOD) eventhough next Monday it gapped up. Crude was trending up. Thinking about it now, I realise I was excited and so made the mistake.
Please list (1)what you have experienced and
(2) not yet experienced but perceive as a potential problem.
Some of them may be obvious (as the one above), but getting them in a list would be helpful for traders on the learning curve.
For instance:
Thank you so much .
What do you think about listing all those factors that can go against a trade?
Not to be pessimistic-but realistic.
Recently, I placed a trade to buy Crude on Friday, but mistakenly placed it on the same months' contract, on the expiry day. Result: Went into Loss (When exchange squared it off at EOD) eventhough next Monday it gapped up. Crude was trending up. Thinking about it now, I realise I was excited and so made the mistake.
Please list (1)what you have experienced and
(2) not yet experienced but perceive as a potential problem.
Some of them may be obvious (as the one above), but getting them in a list would be helpful for traders on the learning curve.
For instance:
- switching time frames in the middle of a trade.
- trading when emotionally disturbed
- Taking a technically valid trade even though it is beyond our risk margin.
- Internet issues
- Computer problems
- .....
Thank you so much .
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