Wednesday, September 19, 2007

Breaking bad habits

I've talked about this before but at this point it probably bears repeating. Take a good hard look at your trading methods. If you haven't made money or haven't made very much then perhaps you need to modify how you trade. I've observed that quite a few traders on the blogs repeatedly tried to catch every little swing the market made during the last bull leg. I dare say very few of them made any money. The market has moved over 23% during the last year. If your trading methods haven't produced a profit with gains like that then you most likely need to do something different. I see quite a few traders already setting themselves to try and trade back and forth again. Many of these traders have admitted that their accounts are not up. At what point do you quit making the same mistake over and over?