Top 7 Mistakes Beginners make in Trading (by Jordi Martí)
Here are the most common mistakes I see new traders make: 1. People think "it's easy" 2. People think "I'm going to get rich" 3. Operate with another's ideas 4. Lack of passion 5. Look for a stroke of luck 6. Lack of discipline 7. Lack of method
1. People think "it's easy" The technique is very simple. The university part of trading is very simple. I assure you that any professional has to study much more than us to be traders. We just have to know how to do addition and subtraction.
2. People think "I'm going to get rich"
3. Operate with another's ideas Be careful when people come to you saying that in the Bank they have told me that this or that, or if you have read in the Expansion or in Cinco Días, El Economista or the Financial Times ... that the actions of sector X by the end of the year are going to rise infinity.
Goldman Sachs recently talked about the S & P500 going to go up to 3,500 or almost and the next day it suffered the biggest drop in the last three years. You are going to stake your money on the opinions of third parties that they probably do not know or the information they have is biased because for funds to buy someone has to sell them and for funds to sell someone has to buy them. And who is this someone? We, the traders.
Therefore, do not listen to your friends, the press, or your colleague who knows a lot and works in the bank. Having your criteria, which may be aligned with that of a colleague who works in a bank and knows a lot. Because you are risking your money and not yours. When the one from the bank comes and tells you to buy shares in company X, perhaps that bank is a shareholder in that company.
4. Lack of passion Why lack of passion? Because this is a very long way and if you are reading this it is that you also have it, because you have tried it and you want to achieve it, therefore you have passion.
You have to be passionate about this because it is very difficult and sometimes boring. It is a long way, for some, it will be months but for most, it will be years.
5. Look for a stroke of luck It is the fastest way to go bankrupt. "Hey, they told me that the S & P500 is going to go down, I'm going to put everything in short."
6. Lack of discipline
7. Lack of method The method for me is the least important. The majority of methods work, what we do not know is to use them. When operations go wrong, it is never the market's fault. The market is always right. The fault is yours because although it is true that there are days that you have to lose, you have to lose with sense. If you lose like crazy the fault is yours.
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[JORDI MARTÍ] (https://canaltrader.com/en/teachers/jordi-marti) Head of Studies of Canal Trader school
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