Mistakes Traders Do that cost them!

As traders, we do different mistakes that negatively impact our trading experience.

I noticed a lot of traders follow different Mentors/Signal Providers.

The thing you don't know here is, no matter how good both of these mentors are, they won't give same signals.

Every signal provider or expert trader have strategies that works for them, some of them wait to get a particular set up before they trade.

Let's say you follow Signal Providers mr A and mr B, and they are top professionals with good win rates.

Mr A may post a BUY signal, you took the trade but trade is not yet in profits. Then you see a SELL Signal from mr B, you become confused.

The confusion may lead to you cancelling mr A's signal to trade mr B's and may run into loss. You will close it again and rush up to mr A's signal only to run in loss again because they already hit TPs.

Stop asking signal providers questions like, "ARE YOU SURE", Instead ask yourself, "WHY ARE WE SELLING/BUYING"

Learn how to analyze so you can make decisions for yourself. Analyze signals to find reasons why you are buying or selling.

AVOID following multiple mentors at the same time, trading patterns differs.

I am breaking everything to the smallest, not because I have all the time, but because I want us to win.