How to lose money in the markets (consistently)

[KateMoloney]

What advice would you give to someone who wants to consistently lose money in the markets?

Whilst this is a fun question to ask, there is also wisdom in learning “what not to do”….

[KateMoloney]

What I’ve learned so far …. (if you want to lose money in your trading business consistently)

Constantly change systems. Constantly upgrade/modify your system.
Switch your system off during a drawdown and create a new system (because the old one must be broken)
Get highly emotional about your wins AND losses.
Chase the next seminar/guru/course that looks promising.
Invest $5k into your system hoping to turn it into $1Million by the end of the year …

Finally, and most importantly of all ……

Blame Nick for all your losses. They are his fault after all
Take responsibility for the wins (do this if you are trading Nick & Craigs systems …)
Send Nick a nasty email complaining about his systems and how badly they perform.

[MichaelRodwell]

Design a system focusing only on the return and not paying attention to the risks.

Dont worry about your lifestyle when designing a system, you’ll find a way to fit your life around your trading.

[RobertMontgomery]

Don’t invest in the proper hardware (battery backup, pc, etc.) or remote server services to make sure your systems run uninterrupted due to power outages or hardware failure.

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