If you have a harem of 40 women, you never get to know any of them very well. Warren Buffet

One mistake that a lot of us make is trying to trade as many instruments as we can. People spend time monitoring so many stocks, forex combinations, bonds etc, that they do not actually get to understand the behaviour of any. A lot of people become a jack or all trades and a master of none. As technical analysis is the study of charts and the behaviour of instruments, its very important to understand how the instruments react to each other and how the behave under various situations.

As Warren Buffet put it, if you try and keep track of too many instruments, you dont get to know them or understand how they behave. This reduces your chances of profiting from major moves on the instrument. Also, as you can only monitor a few instruments on a daily basis, especially if you only do it part time, there is the high possibility that you will miss out on identifying a major buy or sell signal.

Alternative punchline;

All are very unpredictable and just because they react one way this time, don't think they will next time.
Both are very expensive to acquire and cost even more to keep them, then when they decide to go you could end up losing your house.
All are illogical and prone to extreme reactions based on sentiment, and finally they are all crap at parking a car.........................
I'll get my coat.........
Alan