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Professional Stock Market Advice Reveals Most Common Trading



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Futures Trading Systems SpacerThe best Stock Market advice you will ever read is to learn frommistakes when someone else has made them. So, this stock marketadvice list I made a list of some of the most common tradingmistakes that are made. Even I`ve made some of these. If youhave already made some of the mistakes, you can rest assuredthat you aren`t alone in making them. If you haven`t made them,then here`s a way to get around having to learn by making themistakes yourself, by reading my stock market advice list.

The Stock Market advice tip #1, and worst mistake that peoplemake is that they believe trading is the easy answer, a way toget rich quickly. People will often expect to become wizards inthe market overnight, but they fail to realize that trading islike any profession; you must learn how to do it first.

For example, would you attend a weekend doctor`s seminar andexpect to conduct heart surgery on Monday? Of course not! I amshocked at what people expect when they go to a weekend tradingseminar. They think they will create wealth without having towork, invest or think, and it just doesn`t happen that way.

After treating trading like a get rich quick scheme, my nextstock market advice tip #2 and most common mistake, is toapproach the market without a plan. Without a trading plan,traders approach the market in an inconsistent manner. One daythey trade stocks and the next they trade the foreign exchange.Or, they may use one set of indicators one day, and the next daythey will throw these indicators out the window and take on acompletely new set. Without a consistent approach, the onlything governing their trading decisions is really emotions, andthat will doom them to failure.

If a new trader has managed to skip these last two mistakes,they often fall down when they try to go it alone. This is myStock Market advice #3, all traders should find themselves acoach, or a mentor. Someone who can help them spot the errors intheir system that they might not have noticed. An outside pointof view can help you avoid other costly mistakes, and greatlyincrease your profits.

These are some common and quite basic mistakes. The next errorsI`ll mention are ones that are just as prevalent in the tradingindustry, but they often occur once traders have been around fora while. I have some personal experience with these mistakes.Let`s call this stock market advice list, the three mostexpensive mistakes I`ve made.

My stock market advice mistake tip #4, or the first mostexpensive mistake, I made was to search for the “Holy Grail” oftrading. This was an incredible waste of both time and money.During the first three years of my trading career, I spent over$25,677 on a library full of books, videos and seminars as wellas spending thousands of hours in search of the perfect tradingmethods. Honestly, 95% of what I bought was pure junk… Ishould have listened to my mentor earlier and realized the “HolyGrail” of trading is simply excellent money management!

My stock market advice mistake tip #5 or the second mostexpensive mistake I made was not having a predefined exit point.Early in my trading career, I remember trading a stock I thoughthad a high percentage chance of rising. I was too confident. Ifully leveraged the position. Unfortunately, when things did notgo as planned, I did not know when to exit, and was paralysed. Ikept rationalizing why I should hold onto that stock. As thestock continued to fall, I made more and more excuses. At thevery end, I remember thinking, “I can`t take it anymore!”

I sold out. That, of course, was the point the stock turned.

I learned two very valuable lessons that day. First, always haveyour exit points predefined. Second, big losses once started outas small losses, and it is much easier to take a small loss thana big one.

My Stock Market advice mistake tip #6 or the last most expensivemistake, I made is not one that took money out of my pocket;instead it was a mistake that made me leave money on the table.In fact, this reoccurring mistake cost me big.

Early on, I remember selling positions as soon as they showed aprofit. I would not let my profits run, as I was too afraid togive the money back to the market. I figured the profit as mine.The result was that I ended up selling the stocks that weremaking me money.

It wasn`t until my mentor explained to me that when you aretrading, and showing a profit, that is the point where youshould be adding to the position, not closing it out, that Ibegan to understand what I was doing. Once I started followinghis advice, my trading profits soared.

Trading is not an easy profession, but it give you greatrewards. Avoid these common errors on my Stock Market advicelist, create a simple, well-designed trading system, and learnyour market. If you take the time to study the market, and learnfrom other`s mistakes as well as your own, you will become asuccessful trader.

Discover BIG profits from the market by downloading your FREEcopy of David’s new Ultimate Stock Trading Systems course.

About the author:

READ my articles; you’ll FIND the most powerful insider tradingplans & tips ever put together. Searching for these on your own,is a needle in a haystack (hard to find). I trade everyday & myprogressive efforts found the perfect trading card, a set system& plans that really work. These online trading systems areunbelievably powerful, lucrative, reliable, yet simple to use.Until recently, I’ve kept this formula to myself. NOW, I revealall.


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