The Biggest Trading MISTAKES for Beginners (and How to FIX Them)
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- Опубліковано 27 тра 2024
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Are you a trader struggling to achieve consistent profitability? Do you find yourself jumping from one strategy to another, chasing losses, or making impulsive decisions? In this video, we expose the most common pitfalls that prevent traders from reaching their full potential.
We dive deep into the psychological and strategic traps that hold traders back, revealing the hidden obstacles that can sabotage your trading journey. You'll discover the crucial factors that separate successful traders from those who consistently lose money.
This video will equip you with the knowledge and insights needed to overcome these challenges and unlock your true trading potential. Get ready to transform your trading approach and embark on a path towards consistent profitability. Don't miss this opportunity to take your trading to the next level!
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#tradingmistakes #tradingforbeginners #traderlion
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👇 What you'll learn!
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Lesson 1: Build a sturdy trading foundation to overcome the biggest obstacles holding you back.
Lesson 2: Master 3 powerful trading setups to adapt and thrive in various market conditions.
Lesson 3: Efficiently screen and find top-performing stocks with strong momentum and high growth potential.
Lesson 4: Establish a streamlined risk management strategy using stop losses, position sizing, and portfolio heat analysis.
Lesson 5: Optimize selling decisions by identifying late-stage bases or key trend reversals by analyzing daily and weekly charts.
Lesson 6: Sharpen your trading analysis and decision-making by integrating cutting-edge analytical tools and techniques.
Lesson 7: How to establish and maintain routine weekly and daily trading practices to ensure consistent performance and continuous improvement.
Buying Extended/Late & under confidence
My mistakes are buying too much fastly when market open and try other setup than breakout
Maybe another is close to fastly a deal when it doesn t start well the first day, but its an half mistake
"Post analysis is not optional."
This quote alone makes the video worthwile.
Just yesterday i closed two positions that were approaching earnings and so far had been performing well. I had a very nice although not spectacular RRR, both were above my average dollar return for wins. So i closed them confidently. They improved my trading results in all kinds of ways. Without post analysis i wouldn't have been in a position to confidently and objectively say: "I can close this now. This has been a good trade and i can be happy about it when i close it now."
And when you do post analysis for the first time, your biggest and most regular mistakes will jump you right in the face. Just eliminating two errors - no clean setup; strangling trades - allowed me to become profitable. Not on my way to riches, but putting up objectively good trading KPIs.
Having too many stocks on WL AND mishandling pre-market gap ups/gap downs are my major mistakes
It's great you've identified it, now how you do you change you're routines/rules to reduce those mistakes?
Oversizing & Randomness
Deadly duo ☠️
Im guilty of all of them but the worst ones for me were overtrading and lack of risk managment.
Now that you have those identified, how can you change your system or build warning signs when these issues come up?
@@TraderLion with the overtrading I now just do some self reflection on whether I'm putting on a trade for a quick dopamine hit or because there is a real opportunity due to technicals and fundamentals aligning on a stock. I still feel the urge to 'gamble' but I check myself more often now than in the past.
With the risk managment it was as simple as implementing a hard rule to never ever risk more than 1% of equity on a single trade, I think that is probably the easiest rule to implement and I've not had a major drawdown since applying that rule despite some crappy trading on my part from time to time.