19 Reasons Why You Shouldn’t Trade Stocks

February 23rd, 2010 | Filed under: Trader Lessons

[smartads]

Have you ever noticed how (unknowingly) low we think of our friends. Think about it for a second… How many times have you felt you could do something just because your friend could?

While some of these activities may seem (and are) easy, often times it takes some sort of special characteristic or DNA gene that allows us to do things others would have difficulty with.

What better example to use than stock trading. While the task itself is easy, it takes a certain type of individual to be able to successfully take part. If your not this type or don’t posses these characteristics, then a simple task like stock trading can actually be very difficult for you… while eating away at your bank account.

After coming up with 13 symptoms of a bad trader, below are some reasons why you probably shouldn’t even start trading to begin with.

  1. Afraid to lose money.
  2. Risk adverse.
  3. Too emotional.
  4. Have trouble seeing the big picture.
  5. Experience difficulty getting over past events.
  6. Need to know everything before making a decision.
  7. Have trouble just making a decision.
  8. Don’t feel confident behind your decisions.
  9. Confidence gets shaken easily.
  10. Have trouble drawing your own conclusions.
  11. Constantly need the approval of others.
  12. Not resourceful. Can’t think outside the box.
  13. Need to be told what to do.
  14. Awful at managing money.
  15. Just want an easy way to make money.
  16. Find it hard to motivate yourself.
  17. Get stressed too easily. Bad at handling stress.
  18. Believe everything you are told.
  19. Make lists of why others shouldn’t trade stocks… err we’ll ignore that one.

The point is, while stock trading is a somewhat easy and fun way to make some money, it is not always for everybody… even if your friend is doing it.

What do you think? Did I miss any?

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