- Paper Gains
- Posts
- 3 Deadly Sins of Trading (Avoid These At All Costs)
3 Deadly Sins of Trading (Avoid These At All Costs)
Avoid them now...
I'm going to give it to you straight...
If you want to succeed in trading, there are 3 things you absolutely MUST avoid:
1.Trading with your emotions
Don't let fear or greed control your decisions.
Keep a level head and stick to your strategy, no matter what.
If you're not in the right headspace, walk away and come back when you're ready.
2.Trading without a plan
Would you drive blindfolded?
Of course not!
So why would you trade without a clear plan?
Your trading plan is your roadmap to success.
It defines your goals, risk tolerance, and entry/exit criteria.
Without it, you're just gambling. Create a solid plan and stick to it like glue.
3.Trading what you don't understand
Don't jump into trades based on tips or rumors.
If you don't understand what you're trading, or more to the point, why you’re trading it, you're setting yourself up for failure.
Educate yourself first…
➡️ Study the markets
➡️ Learn the strategies
➡️ Only trade what you know inside and out.
Listen, I know you want to make money in the markets.
But if you make these mistakes, you'll watch your account balance disappear faster than you can say "margin call".
So here's what I want you to do:
Print out this email and post it next to your computer.
Read it before every trading session.
Ingrain these rules into your mind until they become second nature.
Your success depends on it.
Now go out there and trade smart!
Rooting for you,
Paper Gains.