đ§žTrading mistakes you will face and must avoid if you don't want to get absolutely incinerated over the long term:
1) Neglecting risk management
No matter how good your strategy is, poor risk management guarantees eventual disaster.
You donât blow up from being wrong, you blow up from betting too big when youâre wrong.
2) Revenge trading
Lost a trade? Tough.
Chasing it back with emotion will only dig a deeper hole. Cool heads win, hot heads blow up.
3) Chasing moves
See a candle explode and you jump in?
See the price hit your level without you and you start pressing buttons?
Best recipes for getting rekt.
If you're asking yourself if you're late, then you probably are.
4) Not keeping a trading journal
If you donât track your trades, youâre doomed to repeat your dumbest ones.
Journaling turns losses into lessons.
5) Getting overconfident after wins/getting over