The Top 5 Mistakes Made by Beginning Traders
In this episode, Brian Montes discusses the top five bad trading habits that can hold swing traders back from reaching their full potential. The habits include revenge trading, micromanaging trades, over allocation of a position, talking to others about open positions, and overtrading. Brian emphasizes the importance of recognizing and managing emotions, being patient and selective in trade setups, and avoiding unnecessary risks. The episode concludes with a reminder to reflect on personal trading habits and work towards improvement. Takeaways: Revenge trading can lead to even greater losses and should be avoided by recognizing and managing emotions. Micromanaging trades can lead to over analysis, decision paralysis, and unnecessary stress. Trust your analysis and give trades room to breathe. Over allocation of a position can result in larger drawdowns. Be strategic in position sizing and avoid emotional decisions. Discussing open positions with people who don't trade can lead to biased or uninformed opinions. Rely on trusted sources of information. Overtrading can result in unnecessary transaction costs, dilute focus, and increase risk. Be patient and selective in trade setups. Interested in the Disciplined Traders Community? https://disciplinedtradersacademy.podia.com/ Email me at brian.montes@icloud.com