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Sit in a quiet place and wish and hope and pray and all your dreams will come true?

What would you rather have the perfect trading system or the perfect soul-mate?

In any trading system, we will experience losing trades as well as winning trades.

In the beginning, we read an article or saw a sales leaflet about a guy who took his last few dollars and parlayed it into millions in the markets.

It’s been preached by every lecturing market guru since the Aden Sisters danced to the music of the gold market.

Countless hours of seeking out the right guru (or piecing together your own system). Weeks of monitoring your guru’s daily trade picks (or paper-trading and back-testing your homemade system). You’ve done it by the book.

You may be wondering, Why would David Jenyns write about the worst trading strategy around? There are a couple of reasons. First, to warn you about it. You really don’t want to end up using this system. Secondly, because once you know the worst possible strategy, the one that is designed to maximize your losses over the long run, then you can reverse it to craft a strategy which does the exact opposite.

Anytime that you enter a position, you are going into the Market blind. You don’t know what point of the trend you are entering in at. You might be entering into a stock just before the trend changes. To protect your trading float you need to set a stop loss. This needs to be done before you enter a trade, so that there is no room for error, or last minute indecision. A stop loss is simply a predefined point at which you exit the stock.

The best time to learn from mistakes is when someone else has made them. So, I’ve made a list of some of the most common trading mistakes that are made. Even I’ve made some of these. If you have already made some of the mistakes, you can rest assured that you aren’t alone in making them. If you haven’t made them, then here’s a way to get around having to learn by making the mistakes yourself.