The Seven Costly Sins

Much like in real life, there are sins in trading. And it will cost you a lot whenever you commit them.

Envy: You see Zeefreaks' unshaded portfolio and BOOM!

You tell yourself, "I gotta have those kinds of gains."

Gluttony: So you copy him. Not necessarily his strategy. But his stock picks.
And maybe some guru's bagger of the year.
You join stock market groups and chatrooms.
And whenever a person legit to your eyes tell you about a hot stock, you buy it.
Until you end up with 20 "hot picks" in your port.

Greed: The guru told you to buy SSI at 7.50 because there are many social climbers.
A week later, it's at 5.90 and he tells you it's ON SALE!
After 2 and a half months, it's at 3.37, WHAT A DEAL!
So you sold your house to buy more.
Imagine the overflowing profits you will get once it goes back up.
2 months after that, it's 2.44.

Lust: In a sense, this is the same as Greed where you can't have enough of something.

But consider this, you were able to ride FNI from 1.90 all the way to 3.50.

And you want to do it again. You think you can do it again. It's so easy.

You bought it at 1.90 because it's a double bottom.

Bought again at 1.20 because the president is buying.

It'll go back. It's just paper loss.

Half a year later, it's 0.48.

Pride: This one.. is the worst. Because you won't know he's there.. playing you.
Notice the trades above.
Pride was there.
And you were his unsuspecting victim.

Sloth: Remember those trades where you were left out because you were waiting for more signals.

You see a stock break out of a major resistance but you didn't buy it because the broker you were following didn't buy it too.

So you just watched it go from 0.05 to 0.80.

Then you lost confidence. 

You just slept through it and didn't bother trying to know what went wrong.

Wrath: This one is also easy to miss.
You bought TAPET at 9.00, a day after, it's 4.49. Then 2.90.
And you tell yourself, "F*ck this! I'm getting those losses back!"
So you come up with another brilliant idea.
I'm going ALL IN on BLOOM because Enrique Razon does not live in Guagua.
I'm absolutely right on this one. Besides, my "mentors" are also heavy on this.
A day after that, it gapped down and you lost 10% of your account.

There you have it folks.
The seven deadly sins of trading.
You may call it some other thing.
But the bottom line is, whenever you commit any of these..
You lose money.