đ THE FOUR BIGGEST TRADER MISTAKES THAT COST YOU MONEY (AND DIGNITY) đ
Welcome back, traders! If youâve ever found yourself staring at your screen, wondering âWhy am I like this?â after yet another avoidable lossâthis oneâs for you.
Today, weâre tackling the four dumbest mistakes traders makeâthe kind that separate the winners from the “I swear, next time I’ll do better” crowd. If you see yourself in any of these, congratsâyouâve got work to do. Letâs go. đ€đ„
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đ§ MISTAKE #1: “I KNOW IT’S GONNA…”
If I had a dollar for every trader who said, “I KNOW it’s gonna bounce off support!”âIâd be podcasting from my private island. Listen up: you donât KNOW squat.
You think you know. You hope you know. But let me tell you, hope doesn’t pay the bills. The second you say “I know”, your brain shuts down. No backup plan, no risk managementâjust blind faith and crossed fingers.
So hereâs your new mantra: đ„ I donât know. I react. I manage risk. đ„
Say it with me. I donât know. I react. I manage risk.
Better? Good. Youâre welcome. đ€
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đłïž MISTAKE #2: GETTING “STUCK” IN A TRADE
You ever watch a car sinking into quicksand? Thatâs you. Instead of cutting your losses, you start digging through Twitter for âconfirmationâ that holding is the right move. Suddenly, Fibonacci extensions, lunar cycles, and your grandmaâs arthritis all confirm your bias.
đš Reality check: Pros cut losses like a toxic ex. Fast, clean, no second thoughts.
Still holding onto losers longer than your last situationship? Might be time to rethink your strategy, Romeo. đ
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đą MISTAKE #3: GETTING SUCKED IN BY NEWS EVENTS
đš BREAKING NEWS! đš
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The Fed just sneezed. Stocks crash.
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Someone on Twitter says “Bitcoin to $1M!” You FOMO in.
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An analyst claims a recession is officially here. You panic sell.
Stop reacting like a caffeinated squirrel. Big news is big noise. If your strategy told you to buy, you buy. If it told you to sell, you sell. If you donât have a strategy? Why the hell are you trading?
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â MISTAKE #4: TRUSTING “MENTAL STOPS” đ«
You ever hear a trader say, âI donât use stop losses because I have disciplineâ? Yeah. Thatâs like saying, âI donât wear seatbelts because I trust my driving.â
Your “mental stop” is garbage. Itâs a lie. And when price tanks, that mental stop magically disappears. Your hands shake, your brain stalls, and suddenly, youâre making up reasons to stay in.
đš Real traders use stop losses. Losers use mental stops. Choose your side. đš
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đ„ FINAL THOUGHTS đ„
If any of these mistakes sound familiar, good. That means you know where to improve.
â Stop saying âI knowâ. You donât. â Stop getting stuck. Cut it and move on. â Stop trading based on news events. Stick to your plan. â And for the love of all things profitable, PUT. YOUR. STOP. IN. THE. SYSTEM.
Trading is war. The market is your enemy. And discipline? Thatâs your only weapon.
You got this.
Until next time, trade smart, stay sharp, and if youâre gonna gambleâat least do it in Vegas where they give you free drinks. đž
đ€ George, signing out. đ
This post is originally published on ROADTOMILLION.