When a new trader is first starting out it is very easy to slide into bad habits. Or run into common mistakes. In this video the Trader TV Live team discusses the Top 5 Mistakes Traders make and how you can avoid them! ***** Watch our Live Trading show, Monday to Friday from 9 am to Noon! / tradertvlive
Let's face it..we're all human and we will all make mistakes. As traders it is our job to control risk and limit mistakes when and if at all possible!
Here are multiple different strategies you can implement to avoid making these common trading mistakes!
All Traders must be aware that trading is business and needs to be treated as one. Monitoring your activities is therefore fundamental, but many underestimate this aspect thinking they can remember everything.
It's not good! Proper record keeping is first foremost the beginning steps to reaching consistent profitability. 📒
By keeping tabs on your results with a Day Trading Journal you automatically build confidence allowing you to put more risk to work and grow your trading business.
Another common mistake we discuss is trying too many strategies within a short time period.
After one slow day would you expect to see your local favorite coffee shop one morning unexpectedly selling pizza? Probably not.
The same goes for your trading business. You must stick with it and work hard to reach consistency!
⏳ Outline:
0:00 - Intro into swing trading
0:48 - Don't expect to be perfect!
3:02 - Embrace the freedom that trading allows
4:35 - Common mistakes tend to go hand and hand
6:05 - Applying what happened yesterday to what you "think" should happen today
10:15 - How having a plan can keep you away from danger
14:00 - Avoid trying too many things too soon
14:55 - Summary
Trading Software: daytradetheworld.com/trading-...
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Watch our Live Trading show, Monday to Friday from 9 am to Noon! / tradertvlive
🔖 Useful Resources:
• Top 5 Common Trading Mistakes in the Financial Market → www.daytradetheworld.com/trad...
• Mistakes To Avoid When Running a Trading Office → www.daytradetheworld.com/trad...
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