Want To Find Better Trades? Stop Making This Mistake
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- Опубліковано 4 лип 2024
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I explain the common mistake that caused me to miss a huge USD/CHF opportunity. As traders, we are constantly making decisions based on our analysis of the market and predictions of what might happen next. However, we often make mistakes in our thinking that lead us to miss out on good trades or take bad ones. One of these mistakes is deciding the outcome before we complete our analysis, rather than relying on deferred judgement.
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🕐 TIMESTAMPS:
0:00 My USD/CHF missed trade opportunity
0:56 How to get my full trade breakdowns
1:16 How you make decisions
2:44 How to increase your prediction accuracy by 50%
3:22 How this relates to your trading approach
4:50 The mistake I made with the USD/CHF opportunity
6:26 What I should have done differently
The best lesson here is admitting and analyzing when, why and how we make mistakes.. as we all do in trading ;-) In my experience it is perhaps the one thing I have gained from the most. I was absolutely flabbergasted when I realized how much of my trading was based on assuming things that had not happened while not having any price action confirmation. It leads to early entries, early exits, or no entry at all... LOL!! Exactly as you explained in this example. I looked at this particular trade (I didn't take it either..) The market had made a previous high (1.0023) on Nov. 29th 2019 (in the same price area) Resistance for this trade was 1.0064 and then it proceeded to break structure on May 16th @ 0.9975.. retested the break the 18th @ 8am (BST) and it dropped from 0.9975 to 0.9575 (400 pips to the pip) like a hot potato.. ;-) Thanks for sharing this, it's so important.. Cheers!
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Good video. Appreciate your explanation.
Well this is intresting topic. Thanks for video.
Keep up the great videos. Very informative based on facts not bloating trading up like it’s some get rich quick. Great work!
Beautiful. Thank you very much for sharing 🌹
Hi Nicholas , you should look into talking about strike rates. There’s almost no traders here taking that into factor in their trading system
Duomo, how are you able to risk 10 pips, with the spreads that brokers offer? At the end of day, they can open the spreads 10-20 pips sometimes. Any feedback would be greatly appreciated. Thanks for the analysis. 💯
So I got nearly the same case in UJ yesterday I took the Trade but it stop me out with 2 pips than fall 80 pips in my TP.
Same with me with GJ last week, right after I caught 250 pips on them the night before during London #Phillytrader
Any social media platforms for everyone where they can share their views...if any please provide link.. thank you
Im waiting :)
The Tube 😂 lol
British slang is something else...
Jokes aside very informative video as always
I got 40 pips and out
what happened to ur ftmo account?
Nothing, I still have it. My main aim was just to pass the challenge for the reason I had mentioned in the previous videos.
~ Nicholas
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Looks to me like your 'Decision' was based on GREED. You wanted a 'Better Setup' = More Pips = More money to bank. I'm not trying to be in bad form, just seems to be the honest truth to me. Amirite?
Better setup doesn’t necessarily mean more pips. I judge setups based on the expectancy of the trade. So a better setup would be one with more positive expectancy, which means over the long term it’s a more appropriate trade to take.
Hi bro I lost 6000 dollars in market because of telegram scammer that is not my money that's my mom's money he saved for me but I lost everything. How can I recover could u plese help me 🙏😭😩 out. Now I am hopeless 😔 and homeless 🚫🏠😔
That's a lot. Do prop trading now
What's your telegram channel of your platform I wanna invest sir someone is always posting your company and your videos claiming to be you so please sir I fear that he could scam me 😢 I need to comfirm it from you by sending me your telegram link to match it with the one he has please
We don’t have a telegram channel. That person is likely to be a scammer, you should report them.