Non-Negotiable Trading Mistakes
The Trading Errors You Simply Can’t Afford To Make
Some mistakes are simply not acceptable…
They have serious consequences.
- “Oh, I forgot to wait at the junction and just drove out”
- “Oops, I didn’t look before walking across the road”
Too many of those and you’re brown bread!
Compare that to something minor, forgetting to close a window or leaving your phone in the car.
Sure, life would be better without those mistakes, but they aren’t going to kill you.
The same applies to trading…
NOT ACCEPTABLE
There are some mistakes that you should not be making.
- Breaking daily risk rules
- Oversizing on positions
These are the trading equivalent of stepping into traffic without looking, mistakes that could be account-ending.
On the other hand, there are smaller mistakes:
- Entering a trade slightly late.
- Closing a trade too early.
They might frustrate you, but they won’t wipe you out. You want to reduce them over time of course, but it’s not life and death…
In my latest podcast, I dive deeper into this topic, breaking down the difference between non-negotiable mistakes and those that are simply part of the learning curve.
There’s a common misconception that great traders make no mistakes, and that’s simply not true.
Even the best traders make errors all the time, the difference is their mistakes are rarely life-threatening. (Unless you’re Nick Leeson…)
Check out the episode here.