Following the crowd, entering ahead of major news, trading on instinct. Each mistake may seem harmless on its own. The real problem starts when these small mistakes become your trading system.
We've put together a few situations where it's especially important to catch yourself before making the same mistake.
Which trading mistake took you the longest to overcome?
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They don't predict the market but help you stick to your trading plan when the market moves fast, and you're tempted to wait a little longer.
The new LiteFinance article explains how to set SL and TP, why they shouldn't be placed arbitrarily, and how to use support and resistance levels, volatility, and the Risk/Reward Ratio.
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Our chart looks at the different personalities traders can have. And one person can easily fit more than one type
Which ones sound like you?
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Forex is a global over-the-counter market where currencies are traded. Banks, institutional investors, brokers, market makers, and retail traders all take part.
Currencies are traded in pairs. When you buy one currency, you sell another at the same time. Your trading result depends on how the exchange rate between them changes.
Our guide explains Forex from the ground up, including who drives the market, what types of currency pairs exist, and how to get started
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📱Opened a trade on your computer but need to keep an eye on it during the day?
You can monitor positions, adjust your stop-loss and close trades from your phone without going back to your computer.
👇 Do you use mobile trading?
You can monitor positions, adjust your stop-loss and close trades from your phone without going back to your computer.
👇 Do you use mobile trading?
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Five winning trades in a row don't make the next one a winner. A good-looking candle doesn't replace a real setup. And just because a move has already happened doesn't mean it will continue when you finally decide to join in.
Sometimes, the smartest move is to stay out when there's no good reason to enter
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Today's workout targets three skills: waiting for a real setup, leaving your stop where it is, and, most importantly, staying in control after a losing trade.
The last one is the hardest. After a stop-loss, you may feel tempted to open another trade and win the money back
Keep practicing, and you'll gradually trade less impulsively and become more disciplined.
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🔎 A strong rally on the M5 chart may look very different on H4. What looks like a powerful move up could simply be a small correction within a broader downtrend. That's why traders use Multi-Timeframe Analysis.
Each timeframe has a role:
📊 Higher timeframes show the broader market context and direction.
📊 Middle timeframes help identify a potential trade setup.
📊 Lower timeframes help fine-tune the entry.
This way, you don't make your entire decision based on a single candle. Instead, you get a clearer, more complete view of the market 😇
However, you don't need to analyze every timeframe available. Each one should serve a clear purpose.
Each timeframe has a role:
📊 Higher timeframes show the broader market context and direction.
📊 Middle timeframes help identify a potential trade setup.
📊 Lower timeframes help fine-tune the entry.
This way, you don't make your entire decision based on a single candle. Instead, you get a clearer, more complete view of the market 😇
However, you don't need to analyze every timeframe available. Each one should serve a clear purpose.
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