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Adam Milton

Excuses Are Not Excusable

By , About.com Guide   August 14, 2010

Many new traders make the mistake of using excuses to explain why their trading as a whole, or a particular trade, is not profitable.

There are a variety of excuses that are used, including blaming their charts (e.g. they should have looked at a two minute chart instead of a one minute chart), blaming someone else (e.g. a larger trader looked for their stop loss on purpose), and even blaming the day of the week (e.g. they shouldn't have traded on the day before (or the day after) a holiday), and the list goes on and on.

Professional traders do not use excuses (they do not need to because they are trading correctly), so if you are a trader that does use excuses to explain your trading, you need to recognize that it is your trading that is the problem, not something or someone else.

Using the excuses mentioned above (which are some of the most popular excuses) as examples, if your trading is not profitable on every chart time frame then your trading is not based upon market dynamics, if your stop loss was reached just before the market moved in the direction of your trade then you placed your stop loss incorrectly, and if your trading is not profitable around holidays then you are not trading correctly.

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