The Twelfth Cardinal Mistake:
LACK OF PATIENCE
trading for the excitement, not the profit.
life of a commodity trader is somewhere between five minutes and nine
months. Not all commodity traders trade because they want to make money.
Many trade because they want the action. Think about it -- must you have
a trade a day, or can you patiently wait for the high probability trades,
even if it means standing aside for a week or two?
of you who wish to learn how to make money in the commodities markets,
rest assured you can. However do not expect to make money in each and
every trade. If you concentrate on not breaking the 12 CARDINAL MISTAKES
of commodities trading, you have a greater probability of making money
over a period of time. Certainly you will have losing trades. Certainly
the market will do the unexpected and at times you will lose more than
you expected; but if you steadfastly avoid making these mistakes you must
You must evaluate your own trading and determine whether you really trade to make money, or for the action and excitement. To overcome this mistake, you must develop patience, do your homework, and research markets for high probability trades.
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