How do you know if your trading strategies are helping or hurting your overall portfolio goals? Maybe you’re chasing the market or trading based on what your friends and family are trading? Lucky for you, our roundtable today talks about six trading habits that might be keeping you poor and they offer lots of sound advice on how to avoid these mistakes. Whether you’re a long time investor or a trader, we’ll cover the gamut of tips for you on this episode.
Rosetta Bryson from Simple Trader Pro joins our roundtable with Len and OG today to discuss these trading habits. And we’ll also have Doug share some of his sports related trivia, on this live show performed on the Fireside app.
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Investing Habits That Keep You Poor
6 Trading Habits Which Keep You Poor (Without You Realizing It) (Trading With Rayner)
During our discussion, our roundtable guests will discuss these six trading mistakes that could be detrimental to your trading success:
- You chase the markets
- You use a fixed position size
- You average into losses
- You hesitate to cut your loss
- You have itchy fingers
- You listen to others
A big thanks to our contributors! You can check out more links for our guests below.
Another thanks to Rosetta Bryson for joining our contributors this week! Learn more about Rosetta and Simple Trader Pro here.
Visit Len Penzo dot Com for the off-beat personal finance blog for responsible people.
Doug’s Game Show Trivia
- When was the first professional sports franchise that’s still operating founded in the U.S.?
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Miss our last show? Check it out here: M Is For Money (with Rob Phelan) and E Is For Ed Slott’s Roth IRA Tips
Written by: Brooke Miller