Free Elliott Wave Strategies

How to count waves and the Elliott waves

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Common trading mistakes

1/Trading against the trend.


2/Buying during a downtrend.


3/Selling during an uptrend.


4/Failure to recognize the current trend.


5/ No knowledge of consolidation period. 


6/ Using trending trading method in consolidation period.


7/ Changing trading systems from day to day.


8/ Trying every available indicator.


9/ Constantly  looking for another trading indicator that will give 100% winning trades.


10/ Always looking for the most smoothed indicator instead of paying attention

       to the price, which is the number one indicator.


11/ Inaccurate timing of trades.


12/ Never, ever pay attention to the economic news.


13/ Failure to exit the trade before it is too late.


14/ Placing a day trading trade before London or New York opens.


15/ Using useless trading tools.


16/ Being the most courageous, overconfident, stubborn  trader.


17/ Never learn from past mistakes.


18/ Never review losing trades to avoid same mistakes.


19/ Being very greedy, impatient, looking for quick easy big profit.


20/ Trying to recover all long term losses in a very short period of time.


21/ Being desperate and trying everything and losing focus consistently.


22/ Failure to acknowledge the reality of the price action.


23/ No discipline, no willingness to respect and follow a trading system rules.


24/ Inability to trade faithfully, a trading system from A TO Z.  


25/ Placing trading stop loss inside the Bollinger  bands.


26/ Sleepless night, trading the quiet Asian session.


27/ Failure to draw the trend line.


28/ Never ever draw the trend line.


29/ Never ever wait for the trend line to be broken before placing the trade


30/ Always looking at indicators without looking at the price. 


31/ Always relying on the indicators instead of the price itself.


32/ No trading goal.


33/ No trading target for each day, each week or month.


34/ Selling at valid support zones.


35/ Buying at valid resistance zones.


36/ Inability to recognize clearly a valid support or resistance level.


37/ Too much or crazy high leverage.


38/ Using bullish chart patterns in a strong downtrend.


39/ Using bearish chart patterns in a strong uptrend.


40/ Never ever look at the monthly chart.


41/ Showing total disrespect to the weekly and daily charts.


42/ No understanding at all of the multiple time frame trading rules.


43/ Never want to know what is the Top-Down Trading         method.



44/Still making trading decisions on the lower time frames instead of the higher time frame.


45/ Failure to understand that the higher time frame always commands the lower time frame.


46/ No knowledge of the market patterns.


47/ Failure to differentiate between market patterns and price patterns.


48/ Placing too many trades at once.


49/ Over-trading.


50/ Serious misuse of the Slow Stochastic indicator or any other oscillators or indicators. 


51/ Trying to force the market.


52/ Never use a guarantee stop loss or even a simple stop loss or playing with live fire. 


53/ Trading with money, one can not afford to lose.


54/ Insufficient trading capital and immaturity  to trade like a pro.


55/ Feeling bored and placing ridiculous crazy trades.


56/ Looking for trades that are not present.


57/ No time for family or friends at all.


58/Thinking that life is all about trading and nothing else matters in Life


59/ Constantly blaming everybody except oneself. Total irresponsibility.


60/ Feeling bitter, angry, hopeless and giving up on life completely and failure to enjoy other thing in Life.


61/ No money management at all.


62/ Buying too late at the end of the uptrend or when the uptrend is weakening.


63/ Selling too late, when the downtrend is weakening or coming to the end. 


64/ Taking too much risks.


65/ Taking low probability trades with high stop loss.


66/ Blaming God for one own mistakes.


67/ No trading systems.


68/ No trading plan.


69/ Never pay attention to chart patterns on the thirty minutes chart, daily chart or weekly chart.


70/ Do not know when to exit a trade.


71/ Constantly giving away trading  profit.


72/ Shorting stocks for swing trading without checking the financials.


73/ Too proud to learn or to ask for help.


74/ Going long for swing trading during the bearish period of SEPTEMBER TO OCTOBER.


75/ No knowledge of the trading seasons.


76/ No consideration to the volatility.


77/ No consideration to the S&P 500


78/ No consideration to the major indexes.


79/ No consideration to the VIX and to the other market internals. 


80/ No attention to the sector or to the economy in general or to the consumer confidence.


81/ Focusing on making quick fat money instead of building the ability to trade like a pro.


82/ No respect whatsoever to the professional traders or even to the opening and closing bell.


83/ Thinking that the stock market is his/her father's business.


84/ Failure to acknowledge owns weakness and strength.


85/ Having unrealistic goals and ambitions.


86/ Dependence on trading robot to do the trading work for you






       AND BE VERY HAPPY.    Georgetrio 



































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