What are some things I should really try to avoid

Beginner Questions Trading Psychology
41

Avoid making trading decisions based on emotions such as fear, greed, or impatience.

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42

Thatā€™s correct. Emotional management is an important skill in trading.

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43

Avoid to lose yourself because of what others said.and listen very carefully to your inner voice

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44

Trading is over once you lose yourself.

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45

I think you should avoid rushing into trades and do not wait for favorable market conditions.

46
  1. Being uneducated
  2. Keep a Trading Journal. Hard copy
  3. Write down your win loss ratio should be Fifty/Fifty
  4. Minor adjustments to your plan are necessary. (Donā€™t throw the baby out with the bath water)
    Good Luck and never give in.
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47

I love that notion. It makes you invincible :bomb: :boom:

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48

I think one of the most important things to avoid is overtrading.

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49

Yes, emotional managment is a crucial aspect of trading.

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50

They are really helpful.

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51
  1. Donā€™t jump in blindly: Always have a reason to enter a trade.
  2. Avoid emotional trading
  3. Imlement risk management, always!
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52

Learn and practice. Develop modest realistic goals. Fully understand risk management and your own make-up to cope with multiple losses (it will happen). Seek to match your approach to trading with your lifestyle to avoiding losing interest over time. Thereā€™s much more but thatā€™s a start.

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53

Yes, keeping a trading journal and analyzing your win/loss ratio are beneficial practices to track performance and identify patterns.

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54

Following the principles you mentioned can significantly improve trading experience and help to navigate the markets with a more disciplined and rational mindset.

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55

It is crucial I think by managing risk effectively, you protect your trading capital from significant drawdowns and ensure a more sustainable and disciplined approach to trading.

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56

:+1: :+1: :+1: :+1: :pray: :pray: :pray: :pray:

57

Those are some awesome points you made there. Thanks a bunch! Iā€™ve been trying to learn for a few months now, but honestly, I havenā€™t been super organized or disciplined about it. But, Iā€™m giving it my best shot! Gotta keep pushing forward, you know?! :blush:

58

The key is to stay persistent and committed to your goals. Being organized and disciplined in your learning process can significantly improve your progress and understanding of the markets.

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59

:thinking: :+1: :+1: :+1: :+1:

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60

Try to take lessons from your mistakes and besides so try to avoid emotion in trading, taking high leverage, over trading and trading with scam brokers.

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