#TradingMistakes101
Here are key tips on avoiding common trading mistakes, especially for crypto or forex:
---
🔥 1. Don't Trade Without a Plan
Mistake: Entering trades based on emotion or hype.
Tip: Have a clear trading plan: entry, exit, stop-loss, risk/reward ratio.
Pro Tip: Journal every trade and stick to your system.
---
📊 2. Overtrading = Account Killer
Mistake: Taking too many trades out of boredom or FOMO.
Tip: Only take high-probability setups that match your strategy.
Use: Indicators like RSI + Bollinger Bands + EMA (which you already use) to confirm.
---
🧠 3. Ignoring Risk Management
Mistake: Risking too much on one trade.
Tip: Risk 1–2% of your account per trade. Use stop-loss religiously.
---
⏳ 4. Impatience with Entries
Mistake: Jumping in too early without confirmation.
Tip: Wait for confluence across multiple timeframes (you already use 2H+ for bias—great!).
Entry zones: Use 5min–30min to catch sniper entries.
---
💸 5. Revenge Trading
Mistake: Chasing losses with bigger trades.
Tip: After a loss, pause, re-evaluate your setup, and reset emotionally. Losses are part of the game.
---
🕯️ 6. Ignoring the Bigger Picture
Mistake: Trading blindly during high volatility news or moon transits (since you mix astrology).
Tip: Check economic calendar + moon phase alignments. Avoid major trades during eclipses or Mercury retro.
---
📉 7. Not Using a Trading Journal
Mistake: Not tracking what works and what doesn't.
Tip: Log every trade with:
Date/time
Entry & exit
Reason for trade
Outcome
Emotions felt
---
🧘♂️ 8. Emotional Attachment to Trades
Mistake: "Hoping" a losing trade will turn around.
Tip: Be a robot with discipline. Trust your system, not your feelings.