The Dumb and Avoidable Mistakes Traders Make

By Larry Schneider
08 April 2009 @ 11:16 am EDT

No one likes to lose money. Ever. But veteran traders know there are two kinds of losses. Those caused by being on the wrong side of the market (because the seasoned trader knows the market is always right ) and those caused by doing something dumb and avoidable. Taking losses is a part of trading and successful traders will employ money management to control their losing trades. We shrug off the losers and move on to the next trade. We know no one can control market forces. But losing money through our own actions – actions we can control but failed to, ….ah, that is an entirely different matter and we have no one but ourselves to blame.

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