Welcome to The Ultimate Trading Guide
Stock Trading On Line Article
This is a selection made from among articles on Stock Trading On Line. For a permanent link to this article, or to bookmark it for future reading, click here.
Seven Deadly Trading Mistakes - Part Seven
from: Harvey WalshIn this last article of the series, I'm going to look at what is perhaps the biggest mistake of all, and yet should be the easiest to overcome.
Mistake Number Seven - Not Taking Action
For every trader who opens a brokerage account and starts placing trades, there must be a hundred more who had every intention of doing so, but for one reason or another, never actually took that step.
It's a blindingly obvious statement to make I know, but you cannot make a profit from the markets if you don't actually start trading them! Why do so many potential traders buy the books, ready the forums, and study the charts, but never actually place a trade? The most common reasons I hear are these:
Fear "I'm worried I'm going to lose to much money".
If you trade on a simulator, you can't lose a penny. Today's technology makes simulated trading more accessible and more realistic than ever. Having a go risk-free will either give you the confidence to take the next step, or will prove to you that trading really isn't your thing. Either way, you've got nothing to lose by trying.
Time "I don't have time to sit in front of a computer all day learning this stuff". There are stocks and futures markets in every developed country in the world. With the wonder of the internet, we can trade them all. That means that when you have some spare time, there is a market open somewhere. There's no need to give up the day job to try out trading.
Money "I don't have enough cash to trade with". As trading becomes ever more popular, and brokers try and reach out to bigger audiences, minimum account levels are falling. If you have a few hundred spare dollars (US), you can start trading. Having said that, never trade with money you cannot afford to lose. If losing your starting capital is going to put you on the streets, you really shouldn't be trading with cash. However, there's no reason you can't paper trade while you save up that pot.
No Confidence "I don't think I can do this, it's not for me". If you really think trading is not your thing, of course there is no point in pursuing it. If however you simply fear that you won't succeed for whatever reason, then you could be missing out on a great opportunity for nothing. Get yourself some free charts and a free simulator, or even a pen and paper, and have a go. If you don't try, you'll never know!
Action: Ultimately, only you can take the next step to becoming a profitable trader. It's a sad fact that many who read this will never take their trading dream further. But those few that do, will be well on their way to success, profit, and trading freedom.
That's the end of this seven part Seven Deadly Mistakes series. I hope you've enjoyed reading it as much as I've enjoyed putting it together.
About the Author
When not trading himself, Harvey Walsh teaches others how to trade for profit and freedom.
 |
 |
Stock Trading On Line News
BHP, Vale to close Brazil pellet plants, cut output - Tehran Times
The companies will temporarily close the older two of the three plants operated by their Samarco Mineracao SA venture from the end of this month until mid-January, when they will reassess market conditions, Melbourne-based BHP said Saturday in an e ...
Read more...Marywood wins Laurel Line - TradingMarkets.com
Vinny Baumunk led the Misericordia offense with 19 points and Dominick DelPrete had 10 points. For the Pacers, Sidney Tharpe scored 15 points, and Matthew Medici led with six rebounds. Tharpe was also named to the all-tournament team. BBC 82, PSU ...
Read more...Is Buffett Watching Your Stock? - Motley Fool
One big reason the Berkshire Hathaway annual meeting attracts 30,000-plus shareholders and fans is that anyone who stands in line has a shot at asking the master investor a question. Want to know why Buffett has never purchased shares of his good ...
Read more...Kuwait Stock Exchange Resumes Trading - The media Line.org
A Kuwaiti court ordered the Kuwait Stock Exchange (KSE) to resume trading after accepting a governmental appeal against an earlier ruling that halted trade for two sessions, news agencies reported. Last Thursday, the Kuwaiti Administrative Court made ...
Read more...Marriage proposal starts couple on journey - TradingMarkets.com
"Today we're starting a journey in front of our fellow cyclists and our family. I'd like to ride today and for the next 66 years with you," he said. "Will you marry me?" Taylor nodded furiously. The 1,387 cyclists at the start went wild. And the ...
Read more...