A trader breaks down five costly mistakes: no plan, poor discipline, holding losses too long, ignoring profit targets, and trading alone. He lost $50k learning this and now uses sticky notes on his screen to stay disciplined.
These are the 5 biggest mistakes that traders make that causes them to lose money. If you make fucking decisions with $10, you're going to do the same with $100 and $10,000. So building a disciplined mind early on is crucial and important for your success. Not having a plan. Whenever you enter a stock or a trade, you need to know where you're going to sell if things go your way or things go south. Not taking losses fast. Your trade hits stop loss, exit it. Sell. Chances are you were wrong on your thesis. Not taking profits in time. You need to set a target profit before you enter the stock. Once the trade reaches your take profit, you're going to take profits. You hear me? Take the goddamn profits. Exit the position and realize your gains. Unrealized gains are not real. Trading alone. If I told you there is a way for you to streamline your success and multiply the amount of money you're going to make, you will take it, right? Think about it for like 1 second. If you can learn from other people's mistakes and prevent yourself from doing them, you're going to make money and you're going to save money by preventing yourself from doing those same mistakes. Getting emotional. When I first started, I needed to massively improve my mindset and control my emotions. What I did is I actually took sticky notes and went to town. The main notes I used is no FOMO, take profits, and trading plan, and I just put them on my main screen. That way it was a constant reminder for what I need to do when I'm in the trade. So before I entered the position, I read all those notes and that helped me to master my emotions and mind. Following these rules with discipline is essential for becoming successful. This is the framework for making money in trading, managing risk, managing Managing your emotion and managing your mind is what dictates if you're going to be successful or not. Trading requires patience, discipline, and the willingness to learn from your mistakes and successes. So do keep these principles in mind and learn from my mistakes.
The BlueSky Setup: The Strategy That Has Made Me Over Half A Million (INSANE VALUE)
