It's always better to learn from other's mistakes ๐
Read this thread to avoid common Trading mistakes
๐งต
Read this thread to avoid common Trading mistakes
๐งต
1โฃ Trading without reasons.
Many a time people enter without any trading system.
A trading system is nothing but simple rules which will trigger your buying or selling decision. like Breakout on trendline on a 15 min time frame means you'll buy only when condition is satisfied
Many a time people enter without any trading system.
A trading system is nothing but simple rules which will trigger your buying or selling decision. like Breakout on trendline on a 15 min time frame means you'll buy only when condition is satisfied
2โฃ Analysing the trade after taking the trade.
In this situation, the user has no clue as to why he/she took the trade, and when MTM turns -ve, the trader becomes hopeful and starts finding reasons that will support his view.This trader is protecting his ego rather than his money
In this situation, the user has no clue as to why he/she took the trade, and when MTM turns -ve, the trader becomes hopeful and starts finding reasons that will support his view.This trader is protecting his ego rather than his money
3โฃ Stop tracking the trade that is completed
Once you have booked your profit or loss either close your terminal or at least close that chart and move on to some other script. This will reduce your overtrading and will take you out of the emotional flow which happens in a trade.
Once you have booked your profit or loss either close your terminal or at least close that chart and move on to some other script. This will reduce your overtrading and will take you out of the emotional flow which happens in a trade.
4โฃ Not having a system stop-loss
Well, this mistake is very common and also straightforward. If you have been making this mistake then just force yourself 1 trade at a time to put stop-loss in your system rather than having a stop-loss in your mind.
Well, this mistake is very common and also straightforward. If you have been making this mistake then just force yourself 1 trade at a time to put stop-loss in your system rather than having a stop-loss in your mind.
5โฃ Accept the randomness
Understand that your strategy may give 7 profitable trades out of 10. But no one can tell when those 3 losing trades are going to come. they might even come in a sequence, just accept them and move on to the next trade.
Understand that your strategy may give 7 profitable trades out of 10. But no one can tell when those 3 losing trades are going to come. they might even come in a sequence, just accept them and move on to the next trade.
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Tags: #StockMarket #sharemarket #Investing #Trading #Breakoutstocks #StocksInFocus #NSE #BSE
Follow @AakashSSawant1 for more such content !!
Tags: #StockMarket #sharemarket #Investing #Trading #Breakoutstocks #StocksInFocus #NSE #BSE
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