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THE BIGGEST MISTAKE I DID: DON’T REPEAT ITMy biggest mistake was focusing on the wrong things early in my trading journey

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What Really Matters in Trading: Focus on the Bigger Picture
After spending a year memorizing candlestick patterns and names 8 years ago, I had an epiphany in my third year. I realized trading isn’t about memorizing every little detail—it's about understanding the broader picture of the market. I spent several years struggling to understand this, but now I know what truly matters.
✨ Focus on the Bigger Picture: Trends, Support, and Demand ✨
1️⃣ Trends Are Your Best Friend
The market moves in trends: uptrends, downtrends, and sideways. Identifying the trend early helps you align your trades with the market's direction. The saying is true: "The trend is your friend until it ends." Use tools like moving averages and trendlines to confirm these trends.
2️⃣ Support and Demand Zones
Support and demand zones are crucial areas where price tends to reverse or consolidate. Learning how to spot these zones gives you a better entry and exit strategy, helping you achieve more favorable risk-reward ratios.
3️⃣ Risk Management
No matter how well you analyze the market, there will always be risk. Always define your risk before entering a trade. A solid risk management strategy is essential for long-term success.
4️⃣ Psychology and Discipline
Trading is as much about managing your emotions as it is about having a solid strategy. Fear, greed, and impatience can ruin your plans. Develop a disciplined mindset and stick to your trading strategy.
🔑 Candlestick Patterns: The Last Thing to Focus On
While candlestick patterns can provide insights into market sentiment, they shouldn’t be your focus. Master the basics of trends, support, and demand first. Once you’ve got that down, you can start incorporating candlestick patterns like engulfing candles, pin bars, and inside bars.
🔮 Final Advice for New Traders
- Start Simple: Focus on price action, trends, and key levels.
- Avoid Overcomplicating: Keep your strategy simple and effective.
- Learn Continuously: The market evolves, so should you.
- Find a Mentor: Learn from experienced traders to avoid wasting time.
I made the mistake of focusing on the wrong things early on. I wasted time memorizing patterns instead of focusing on the fundamentals. Don’t make the same mistake! Trading is a marathon, not a sprint. Stay disciplined, be patient, and keep learning.
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