7 things you need to AVOID in trading at all costs:
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1. Focusing on 10 trading systems
- Focusing 100% on 1 trading system is more effective than focusing 20% on 5 trading systems
- Become a master of your trading system
Your trading system is your most important trading weapon.
- Focusing 100% on 1 trading system is more effective than focusing 20% on 5 trading systems
- Become a master of your trading system
Your trading system is your most important trading weapon.
2. Taking stupid risks
- Greed is the most powerful trading killer
- The best system in the world will still lose without good risk management
- Avoid removing stops, risking big and thinking you can't lose
Risk management is the most underrated trading skill.
- Greed is the most powerful trading killer
- The best system in the world will still lose without good risk management
- Avoid removing stops, risking big and thinking you can't lose
Risk management is the most underrated trading skill.
3. Marrying 1 trade
- Stop focusing on 1 trade. Start focusing on 1000 trades.
- Success isn't about winning 1 trade, but it's about winning for 5-10 years.
- Thinking in probabilities is the best way to focus on the long term.
Consistency is the key to trading success.
- Stop focusing on 1 trade. Start focusing on 1000 trades.
- Success isn't about winning 1 trade, but it's about winning for 5-10 years.
- Thinking in probabilities is the best way to focus on the long term.
Consistency is the key to trading success.
4. Trading without a plan
- Trade with a plan = Know what to expect = Limit your emotions
- Trade without a plan = Don't know what to expect = No emotion control
- If you plan trades, you'll limit fear and greed
Planning trades is the best way to control your trading emotions.
- Trade with a plan = Know what to expect = Limit your emotions
- Trade without a plan = Don't know what to expect = No emotion control
- If you plan trades, you'll limit fear and greed
Planning trades is the best way to control your trading emotions.
5. Thinking in days, not years
- 3-6% every month for 10 years is better then 100% in 30 days and losing everything afterwards
- Experience is the most expensive trading skill
Rome wasn't built in 1 day.
- 3-6% every month for 10 years is better then 100% in 30 days and losing everything afterwards
- Experience is the most expensive trading skill
Rome wasn't built in 1 day.
6. Not investing in your mindset
- A trading edge makes you a good trader.
- Risk management makes you a great trader.
- Emotional control makes you a legendary trader.
Your mindset in your most important trading asset.
- A trading edge makes you a good trader.
- Risk management makes you a great trader.
- Emotional control makes you a legendary trader.
Your mindset in your most important trading asset.
7. Giving up at the first failure
- Every successful trader made mistakes
- Every successful trader had trading failures
- Every successful trader started from 0
Be patient. Great things take time. Don't give up.
- Every successful trader made mistakes
- Every successful trader had trading failures
- Every successful trader started from 0
Be patient. Great things take time. Don't give up.
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