TOP 10 Day Trading Mistakes YOU NEED TO KNOW!!!
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these are the most common mistakes that I see day traders make. I have made them myself. and I want to tell you what they are so that you don’t make the same mistakes.
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0:00 Top 10 mistakes chapters
1:24 Mistake #1 You entered too late
2:54 Mistake #2 RSI Divergence
3:41 Mistake #3 trading without a stop loss
4:48 Mistake #4 Too much money
5:54 Mistake #5 Too many indicators
6:48 Mistake #6 Don’t change a strategy
7:56 Mistake #7 You wont get rich quick
9:02 Mistake #8 Not demoing
10:01 Mistake #9 Strategy Jumping
11:00 Mistake #10 Don’t quit
My recomendation on a paid indicator feature in several of my videos
https://discord.gg/mMkrgftzfc
(Pip Hunter Indicator)
Links to the indicators
TMA Overlay
https://www.tradingview.com/script/zX3fvduH-TMA-Overlay/
TMA RSI Divergence
https://www.tradingview.com/script/WiLZJSmu-TMA-RSI-Divergence-Indicator/
My Recommendation for a funded account is FTMO
Sign up for a 0,000 funded account here
https://tmafocus.com/3iBig1N
TMA shop
https://shop.spreadshirt.com/themovingaverage/
Looking for a forex broker?
I use Osprey
https://bit.ly/3rR9LCB
For charts Use Trading View
https://bit.ly/30TobpU
The potential for a large amount of profits in a short time period makes day trading an appealing profession (and sometimes even hobby) for many individuals. While the concept may sound simple, in reality it takes careful research, thoughtful strategy, and often a few months of experience to truly succeed as a day trader.
It’s easy to get caught up in the excitement of making quick moves on the market, which means it’s also easy to make mistakes that cost you big—literally.
Familiarize yourself with the most common day trading missteps, so you can avoid making them and maximize your trading dollars.
Day trading is not gambling, which means you can’t stake your money on chance. Day trading is about making quick, calculated moves that will minimize your risk of and loss maximize your potential for profit. That’s why rule number one for succeeding in the industry is to come up with a plan and stick to it. Take the time to educate yourself on trading strategy and research market patterns, and use that information to develop a plan. When you commit to a plan, your emotions are less likely to take over and lead you astray in the heat of a trade.
While experienced day traders can sometimes make this mistake in a moment of fearlessness, risking more than you can afford on one position is a mishap more common to new traders. Particularly when you’re just starting out, you want to stick to trading smaller positions (think 100 shares or less). Risking more than you can afford to lose can destroy your day trading business in the blink of an eye.
Day traders should concentrate on fixed and reliable returns. If you spend your time chasing the hottest stocks hoping to come out with a win, you’re more likely to panic sell or buy and end up losing.
Desperately holding onto losing positions is a very common day trading mistake that is, more often than not, based in emotion. Unfortunately, it’s also a mistake that can quickly destroy your enterprise. Holding onto false hope for a turnaround or being afraid to admit you were wrong is understandably human, but comes with a high cost in terms of capital. Again, trading is not investing.
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