Traders, Watch For These Tripfalls!

[newtrader101]

Neglecting to backtest

For a long time I just took the word of the so-called trading gurus at face value. For example the Moon strategy. It tells to buy on the Full Moon and Sell on New Moon. However when I tested, in a year, the count was about even for both- bearish and bullish for both New Moon and Full Moon (Silver).
We have to see for ourselves, if a statement is true or not. It's our money.
ignorance is not an excuse.

 

[newtrader101]

We need trading rules because we don't have clarity of perception at all times- we cant see things without bias all the time- and we are not even aware when we have lost clarity. Therefore we need risk evaluation, stop loss, risk limiting, back testing, etc.

 

[newtrader101]

Trade only with your own money--not parents', spouse's, inheritance, or in any way not earned by you. Only if we have sweated for it, will we value it.

 

[newtrader101]

 

[newtrader101]

https://youtube.com/shorts/iAwoucvG-QA?si=_m6ZR0PK7x1ps1OK

 

[newtrader101]

Some traders may tend to break risk limits, especially in options. For them, it is better to keep only the money that you are prepared to lose in the account. Keep withdrawing your winnings.

 

[godfather]

The Anchor of Past Success- Can hold one back, cause duress, For markets change, and so must we, Adapt or sink beneath the sea. Strategies that once yielded profit may no longer be effective as economic indicators, global events, and market sentiment shift. We must remain dynamic, failure to adapt can lead to financial losses or missed opportunities.

 

[newtrader101]

 

[newtrader101]

 

[newtrader101]

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