Technical analysis can be tricky. No matter how good a trader you are, it's impossible to avoid errors. Here are some common mistakes to be aware of ⤵️
where you can try out your strategies before risking your hard-earned funds. This way, you can protect your capital, and risk it only once you’re consistently producing good results.is simple rationality. Your trades should have an invalidation point. This is where you “bite the bullet” and accept that your trade idea was wrong. If you don’t apply this mindset to your trading, you likely won’t be doing well over the long-term.
A similar trading mistake is an overemphasis on lower time frames. Analysis done on higher time frames will generally be more reliable than analysis done on lower time frames. As such, low time frames will produce a lot of market noise and may tempt you to enter trades more often. While there are many successful scalpers and short-term profitable traders, trading on lower time frames usually brings a bad risk/reward ratio.
Trading immediately after suffering a big loss tends to lead to even more losses. As such, some traders may not even trade at all for a period of time following a big loss. This way, they can get a fresh start and get back to trading with a clear mind.4. Being too stubborn to change your mindMarket conditions
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