Mistakes i made when i was new to trading..

A thread :

Watched news for tips ( it's ok to see interviews and all, but avoid watching it for tips )
Wanted everyone's view for my trades ( the more views you get, the more confused you will eventually be, focus on your own study )
Over traded ( more number of trades doesn't means over trading... Trading without plan is over trading )
Leverage trading ( it's ok to do it, but should be avoided in first year of trading or atleast till you have proper knowledge of the risk involved )
Tried to get rich quick, so traded huge quantity ( better to trade as per risk appetite and position sizing amd not try to bet all the money on a few trades or a single trade )
Got jealous of other trader's profits ( be content with your profits, people post their profits, not their losses. Don't fall for it )
Tried to learn all the indicators ( a few are enough and at one point of time, only price action is enough )
Always thought that someone has the holy grail of trading ( no one does )
Shifted to hope category instead of taking stop loss ( respect stop loss if you want to stay in this game )
Revenge trading ( never try to cover your losses, there's nothing like making up for losses. Those were lessons that you had to learn the hard way, don't feel bad about it )

Made a lot more mistakes, will discuss later.

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I’m torn on how to approach the idea of luck. I’m the first to admit that I am one of the luckiest people on the planet. To be born into a prosperous American family in 1960 with smart parents is to start life on third base. The odds against my very existence are astronomical.


I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.

In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.

So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.

Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.