Trade Signals

No, I am not talking about the ones you pay for or get for free from third parties, I refer to your own which are generated by your own strategy. I know plenty of new traders tend to rush into a trade based on a single buy or sell signal. My advice is to stop acting on one single signal alone and have it confirmed by at least two or three signals (the number of confirmed signals is a personal choice each trader has to make).

This will reduce your risk and allow for better entry points, unless of course your strategy is dysfunctional to begin with. There are plenty of false signals when it comes to trading which is why I recommend to be a bit more patient and wait for more than one confirmation which should at least reduce the amount of false signals you will act on.