We learnt the following the hard way! If any of these things applies to you, don\’t worry ? there is an easy solution!

MISTAKE ONE

Lack of Knowledge and No Plan

It amazes us that some people expect to trade the stock market successfully without any effort. Yet if they want to take up golf, for example, they will happily take some lessons or at least read a book before heading out onto the course.

The stock market is not the place for the ill informed. But learning what you need is straightforward ? you just need someone to show you the way.

The opposite extreme of this is those traders who spend their life looking for the Holy Grail of trading! Been there, done that!

The truth is, there is no Holy Grail. But the good news is that you don\’t need it. Our trading system is highly successful, easy to learn and low risk.

MISTAKE TWO

Unrealistic Expectations

Many novice traders expect to make a gazillion dollars by next Thursday. Or they start to write out their resignation letter before they have even placed their first trade!

Now, don\’t get us wrong. The stock market can be a great way to replace your current income and for creating wealth but it does require time. Not a lot, but some.

So don\’t tell your boss where to put his job, just yet!

Other beginners think that trading can be 100% accurate all the time. Of course this is unrealistic. But the best thing is that with our methods you only need to get 50-60% of your trades \”right\” to be successful and highly profitable.

MISTAKE THREE

Listening to Others

When traders first start out they often feel like they know nothing and that everyone else has the answers. So they listen to all the news reports and so called \”experts\” and get totally confused.

And they take \”tips\” from their buddy, who got it from some cab driver?

We will show you how you can get to know everything you need to know and so never have to listen to anyone else, ever again!

MISTAKE FOUR

Getting in the Way

By this we mean letting your ego or your emotions get in the way of doing what you know you need to do.

When you first start to trade it is very difficult to control your emotions. Fear and greed can be overwhelming. Lack of discipline; lack of patience and over confidence are just some of the other problems that we all face.

It is critical you understand how to control this side of trading. There is also one other key that almost no one seems to talk about. But more on this another time!

MISTAKE FIVE

Poor Money Management

It never ceases to amaze us how many traders don\’t understand the critical nature of money management and the related area of risk management.

This is a critical aspect of trading. If you don\’t get this right you not only won\’t be successful, you won\’t survive!

Fortunately, it is not complex to address and the simple steps we can show you will ensure that you don\’t \”blow up\” and that you get to keep your profits.

MISTAKE SIX

Only Trading Market in One Direction

Most new traders only learn how to trade a rising market. And very few traders know really good strategies for trading in a falling market.

If you don\’t learn to trade \”both\” sides of the market, you are drastically limiting the number of trades you can take. And this limits the amount of money you can make.

We can show you a simple strategy that allows you to profit when stocks fall.

MISTAKE SEVEN

Overtrading

Most traders new to trading feel they have to be in the market all the time to make any real money. And they see trading opportunities when they\’re not even there (we?ve been there too).

We can show you simple techniques that ensure you only \”pull the trigger\” when you should. And how trading less can actually make you more!

David Chandler

For free mini-course on stock and options trading click the following link:

http://www.StockMarketGenie.com

Or visit our blog at:
http://stockmarketgenie.blogspot.com/

Ordinary People Making Extraordinary Profits!

The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn\’t worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

Writen By : David Chandler

Tags: derivatives, options, options trading, shares, stock, stock market, stock trading, stocks, trading

Recently I watched my favorite football team lose a vital game.

I simply love this team.

I became so emotional about it; I thought ??this isn?t good for my health?. Can you believe that, but that?s how we get when we are passionate. I simply couldn?t believe (I didn?t want to believe) they could lose.

However, as a committed fan, I was going all the way with them. If they were going down, I was going down with them. After all, you don?t give up on your team simply because they don?t win every game. On this occasion, I was so wound up, willing them to win, knowing all along they had blown their chances.

I really should have walked away from the TV. However, I stayed for the pain. Oh, the exquisite agony. At the end, my shoulders and head were down, I felt like I?d run a marathon and deeply felt the loss for the team and myself. Was there life after this game?

I should have been saying to myself ?? they?ve done well considering they?re a young team, they?ve done better than expected, so save yourself the heartache and face the fact?this season is not theirs?emotionally detach yourself.?

As I was lying on the settee, absolutely exhausted, analysing why I?d put myself through it, my mind went back to my early days of trading. We all go through this and hopefully only in our very early days ? when we learn a few painful lessons. For some, it?s enough to put them off trading forever.

We buy a stock, believing the price will go to a higher level. We know it will rise, because it?s a blue chip and the indicators all line up. There?s no chance this will turn against us. It?s a stock we love because we?ve followed it for some time and it?s a household name ? it?s been a great performer for years. Of course, we?ve got our mental stop loss sorted out before we go into the trade.

However, it does turn against us. Because we love the stock we see our stop loss taken out and what do we do? Nothing!

We love this stock and it will definitely bounce back. But it doesn?t and like a sports fan, you stick with your ?team? and with every decrease in price, you feel that pain and you rapidly go down too – you too are a loser, not only in the sense that you?ve gone against the rules, but also you?ve lost your money.

Just like your favorite team, you can?t win every time. So, to protect yourself against losing, get out when your stop loss tells you ? don?t let your love for a stock paralyse you. In this way, you?ll sustain a small loss, but have enough money left to go in on a winning trade.

So, never attach emotion to a trade ? treat them all the same and trade your strategy. And always have a stop loss in place. Don?t rely on mental stops as love can make you do crazy things!

NEVER FALL IN LOVE with a stock.

David Chandler

Ordinary People Making Extraordinary Profits!

For free mini-course on stock and options trading click the following link:

http://www.StockMarketGenie.com

Or visit our blog at:

http://stockmarketgenie.blogspot.com/

The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn\’t worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

Writen By : David Chandler

Tags: derivatives, options, options trading, shares, stock, stock market, stock trading, stocks, trading

I often play a little game with myself when I have to go shopping; to the post office or on other errands.

Sometimes I will just go about my business and make little comment or eye contact with the person serving me. Other times I will smile and talk to the person. Ask them how they are. Even make a joke!

The difference is incredible. And it is amazing what affect it has on both them and me.

If I take the effort to engage the person in a conversation and make eye contact – almost without exception their face lights up, they smile and are friendly back to me. And best of all, I feel much better.

Instead of it being just a chore, it can make the whole experience more enjoyable. And the only difference is my attitude.

Now what does this have to do with you trading the stock market?

Well, I believe that in trading your success is almost completely determined by your attitude.

If you don\’t believe me, play the game I just described.

And then ask yourself, \”If I can affect my experience so dramatically through a minor change of my attitude in one small area of my life, surely changing my attitude in my trading will have a similar effect.\”

Just try it.

Look at the stock market with a negative attitude [such as the market is out to get me!]. And then review the same information with the view that the market is a wonderful source of financial freedom.

Do you notice a difference?

Do you think the second view is more helpful? Do you think it might give you greater confidence and motivation? And less fear?

Now don\’t get me wrong.

I am not saying that positive thinking is all you need for success. Clearly you need the necessary skills and experience to achieve anything in any area of your life.

But having the right attitude and beliefs is absolutely crucial. Because it is this that determines which actions you will take. And when.

You see the reality is that, without a positive attitude, you cannot be come a successful trader. Period. No question.

So give it a go.

Have a look at your attitudes to the stock market and trading and see if they need review.

What have you got to lose? Maybe just some limiting beliefs and attitudes that are restricting your success.

And by the way – try my little game some time!

Be nice to a cashier or a waiter or a bus driver and see what happens. Maybe even try it on someone close to you!

You will be amazed. And so will they!

David Chandler

Ordinary People Making Extraordinary Profits!

For free mini-course on stock and options trading click the following link:
http://www.StockMarketGenie.com

Or visit our blog at: http://stockmarketgenie.blogspot.com/

The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn\’t worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

Writen By : David Chandler

Tags: derivatives, options, options trading, shares, stock, stock market, stock trading, stocks, trading

Well maybe that\’s overstating it a little, but it\’s certainly one of the most important.

It is?(drum roll please)? ?the need to be right?!

Now that probably wasn?t what you were expecting. You might have thought it was going to be something like not picking the trend or putting too much money on a single trade or one of a dozen other things.

But I can assure you, from bitter experience, that this one attitude causes more problems than most other things you might do as a trader. And it?s worse for men! Something to do with ego or testosterone?

You see our whole society is based on the importance of being right. The need to be right.

Your parents rewarded you when you are right and told you off when you were ?wrong?. They probably still do this now that you are grown up!

From your earliest days at school you are taught that being right is the most important thing. Isn?t that what tests teach you? And this is reinforced through the rest of your life. Your boss probably reminds you of this just about every day!

But some of the best things occur when we aren?t right. Like the time you take a wrong turn. Either in your travels or in your life. And you end up at this amazing place or with this amazing person that you never would have, had you done the ?right? thing.

Plus there?s not a lot of point beating yourself up when you aren?t ?right?. Because, as we all know, it?s going to happen pretty regularly!

Coming from Australia, I don?t know a lot about baseball. But I do understand that batters get paid a lot of money to miss hit the ball an awful lot! Think about that. Top baseballers step up to the plate every day knowing that they are more than likely not going to get it ?right?. Yet they are confident and successful because they know that over a season they are going to get it right often enough.

Don?t Beat Yourself Up or the Market Will join In!

I went to a speed-reading course many years ago. I didn?t learn how to read faster (!) but I did learn an attitude that has stuck with me ever since. It is ? ?Focus. No attachment to the outcome.?

This guy was telling us about how he taught elite sportsmen to achieve their best (hope he was better at that than teaching people how to read fast!). He explained that the trick was to get them to keep taking the shot (or making the jump or whatever) without getting upset with themselves if they got it wrong.

The key was for them to focus on what they had to do in that moment, not on the outcome.

Maybe I have lost you? But the point I?m trying to make is that you need to go into each of your trades with your focus – not on being right – but on following your trading system.

And then the key is to not beat yourself up if you ?get it wrong?. Because if you have followed your system and you know the system works over time, you have done the ?right? thing.

Once you have confidence in your trading method your only focus is on following the signals.

?Focus. No attachment to the outcome.?

By the way, try this approach in other areas of your life. It really works! My golf was much better once I stopped getting angry at myself for every lousy shot.

Deadly Attitude in the Market

In the stock market you can?t afford to hold onto the need to be ?right?!

When trading, you cannot be right 100% of the time. In fact, you can be right only 50% of the time and still make lots of money. But this means you have to be wrong an awful lot!

The market will do what the market will do – no matter what your opinion might be. If you are holding a stock and you expect it to go up in price but it starts to go down, what happens?

If you are like me, a little voice inside says something like ??but this wasn?t meant to happen!?it can?t do this to me!? I know I?m right ? it?s just a temporary set back; it will come right, I?ll just wait it out?

This ?voice of reason? is your ego. You can?t bear to be wrong, so you justify your decision to yourself. You must be right! You tell yourself that you know what?s going to happen?the market?s just confused?it?s just got it wrong! (totally illogical reasoning ? the market can never be ?wrong? – but it makes sense at the time!).

This deep-seated, primordial need that we have to be right can destroy you in the stock market. It will make you put too much money on one trade. And it will make you hold onto stocks that you should have sold days or even weeks ago.

It will mean you will miss opportunities you should have taken because your view was the opposite of what actually happens. And you can miss getting extra profits from a trade because you were convinced that ??it couldn?t possibly go any higher??

By being aware of this ?need? you can overcome it ? over time! You need to get to the point where you ?want what the market wants?. Not what you want.

Just remember.

?Focus. No attachment to the outcome.?

David Chandler

Ordinary People Making Extraordinary Profits!

For a free mini-course on stock and options trading click the following link:

http://www.StockMarketGenie.com

Or visit our blog at:

http://stockmarketgenie.blogspot.com/

The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn\’t worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

Writen By : David Chandler

Tags: derivatives, options, options trading, shares, stock, stock market, stock trading, stocks, trading