Chris and I are subjected to all sorts of mind blurts from people who are researching buying shares in Australia. Many are feeding their minds crud. Here is a count down of our favourite idiot trading statements…
Idiot Trading statement #10: “I can trade alone, without a Mentor… it’s easy”. Far out – Do you even trade?
Idiot Trading statement #9: “The Managing Director of that company told me it was a good company… so I invested in it”. Far out – Do you even trade?
Idiot Trading statement #8: “Trading full-time… how hard can it be?”. Far out – Do you even trade?
Idiot Trading statement #7: “The company’s balance sheet will tell me all I need to know”. Far out – Do you even trade?
Idiot Trading statement #6: “Astrology can help you trade! Gann was a genius.”. Far out – Do you even trade?
Idiot Trading statement #5: “Good stocks always get better. It’s dropped in price now… I’ll buy more”. Far out – Do you even trade?
Idiot Trading statement #4: “It’s not a loss until you sell – so I’ll just hang on to this one for the long term.”. Far out – Do you even trade?
Idiot Trading statement #3: “Trading – that’s only for blokes isn’t it?”. Far out – Do you even trade?
Idiot Trading statement #2: “I don’t believe in stops. I’m using a back-tested system, so I don’t need them”. Far out – Do you even trade?
Idiot Trading statement #1: “Well… it’s OK for you. I can’t be a successful trader because [insert you own trading excuse here]”. Far out – Do you even trade? If it’s important to you, you’ll find a way. If it’s not, you’ll find an excuse.
