Article: 7 Mistakes Your Broker Wants You to Make

At "The Rhino Stock Report" - http://www.rhinostocks.com/2009/03/7-mistakes-your-broker-wants-you-to-make/

This is a great topic and I'm not trying to slam brokers at all. It's just that investors can slip so easily into becoming traders without really realizing it, and not understanding the tricks and rules the pros live by. I've made most of the mistakes and will be glad if any investors and traders do better because of learning something here. Trading is fun, but it's successful trading that's the only worthy thing of course! Although I don't talk much about psychology or platforms, or even really trade management such as limiting position size, and keeping some powder dry at all times - those are very important topics and I never want to minimize their significance to your success.

What I do typically with the charts-based information here, to help readers, is to be specific enough as best I can, to identify levels that will support (or negate) a wave count or pattern setup. And I try to do that for intraday, but I really try to focus especially for swing traders, and I think that swing traders too often get a bit left out when it comes to quality information for successful trading.

There are good sources for trade management including Dr. Brett Steenbarger (so I keep his TraderFeed blogspot blog in list at right). Bottom line, know yourself, the characteristics of the vehicles you're trading (stocks, ETF's, options, futures, etc.), your limitations, your time frame, and what patterns you're trading so you can manage it best.

This is why I've learned what works for me and focus on that. Just as important, to screen out what doesn't work for me. So for example, I'll watch and listen to the hoopla on TV, but consider it part of the sentiment background, or information that may tip one market as against another. But I only make decisions based on the actual charts and chart patterns, factoring in sentiment (especially sentiment extremes) only after looking at the patterns, levels and indicators.

Just some more thoughts to offer to readers - as always, careful out there, and happy market navigating!