Mistakes New and Seasoned Traders Make

[Sicarius1]

Trading is 90% Mindset! You will read this many places and by experienced traders.
So when you loose a trade, for whatever reason, shut it down and walk away for an hour or the rest of the day. THE most important thing in trading is to protect YOUR capital. Revenge trading will kill your account quicker than giving it to any of those marketers on social media.

 

[MoneyShark]

100% Correct
We've all been there, and it's everybody's own process. What also worked for me is:

1. Indicators are INDICATORS, they are not telling you where the market is going, they are only an indication based on past data.
2. Making money is more important than being right.
3. Trade what you see, don't trade what you think.
4. The less indicators the better. Holding on to indicators concludes that you're insecure.

Price action is more important than Indicators
Risk 2 Reward is more important than Winrate
Supply and demand is more important than Fib levels

Trading is just as much about preserving money than it is about making money.

 

[siya1990]

Trading is 90% Mindset! You will read this many places and by experienced traders.
So when you loose a trade, for whatever reason, shut it down and walk away for an hour or the rest of the day. THE most important thing in trading is to protect YOUR capital. Revenge trading will kill your account quicker than giving it to any of those marketers on social media.

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