trading mistakes

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    I have established a thread on Day Trading called Trading Mistakes. Its primarily aim is to:
    1. Identify the most common mistakes made by traders
    2. Once a list of mistakes has been identified establishing checklists to reduce these mistakes.
    I will start the list with a few common mistakes:
    1. Ignoring fundamental analysis
    2. Ignoring technical analysis
    3. Inappropriate position sizing
    4. Failing to monitor position
    5. Inexperienced or incompetent management
    6. Ignoring general market conditions
    7. Ignoring relevant industry conditions
    8. Following the herd
    9. Following tips
    10. Becoming involved in a fad
    11. Failure to see whether company has funds to achieve goals
    12. Dishonest or greedy management
    13. Failure to compare to compertitors
    14. Failure to Act when a decision is required
    15. Greed
    16. Inappropriate timeframes
    17. Failure to do own analysis/research.
    18. Overdue influence from financial adviser/broker.
    16. Fear
    18. Lack of discipline when buying or selling
    19. Lack of review system
    20. Lack of performance measures
    21. Inadequate resources (equipment/software/recording)
    22. Failure to read sector rotation.
    23. Lack of understanding of company's key driving forces.
    24. Imbalance in portfolio
    25. Failure to use time effectively i.e. overposting on HC
    26. Overtrading.
    27. Lack of patience.
    28. Believing management team
    Happy for other posters to contribute to this list.
    Whilst not all mistakes can be eliminated, reducing the controllable mistakes must improve your overall performance of any trader/investor.
    Please feel free to contribute on the thread.
    Regards
    Buffett
    PS: Mind must not be working as I sure I have made more than 28 mistakes over a very long time.
 
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