If you’re making mistakes in trading, this is for you! We´ll show you the results of the week that Cristian obtained. And he considers results of bad weeks.
He lost a total of $613. On Monday September 19th he had $1000 profit. And now $600 negative. This means he lost about $1600 dollars, it’s completely normal, you must know that. We’ll give you some mistakes you can avoid. That can help you become a better trader even when you have bad weeks.
Find your mistakes!
Tip number one is to find your mistake. It doesn’t really matter when or where you will be trading Forex. You need to understand your mistakes, you will have to back up a bit and understand what you did wrong. For example, Cristian tells us that this specific week he was using around 3 strategies. We are sure that once you find your mistake, everything starts getting better.
Get quick profit?
The second specific mistake that Cristian made is that he tried to take profits too fast. This doesn’t mean that the strategy doesn’t work. But it does mean that he didn’t follow the strategy as it was.
So that this does not happen to you, we want to give you an invitation to the BLW signals group. We will leave you the link here: https://www.blwsignalsgroup.com/
There you can avoid all the analysis with a more experienced person. And thus, you can place your Forex signals in a better way! So, sign up and start earning lots of money with our experienced traders.
Three strategies at once?
Cristian wasn’t Bitcoin, so the strategy that he was using is one that he uses as a trend reversal. So, what he does is that he follows the directions of the moving averages.
There are 2 super important moving averages. A moving average always of 200 and another moving average of 20 which are 2 lines. So, when you go and look at the 15-minute charts you will realize that they move differently from the real chart from one hour.
The real strategy that Cristian tells us that he should have followed is about a downtrend. That’s the mistake! Following 2 more different strategies didn’t work out well. So, that was the key mistake.
You must choose only one strategy at a time and move on. The strategy that Cristian followed was a trendy one based on pullbacks, with breakouts and different resistance and support levels.
Create your business plan to avoid mistakes!
The third thing you’ll need to do is to create a trading plan. We’ve seen a lot of people just go into trading. They don’t understand exactly what they’re going to be doing for the week.
You must create your own trading plan. What we mean by this is, if you want to place 3 or 4 positions, create your own trading plan for the week. And that will take us to a final step which is being able to plan your trades.
Sometimes you don’t need to be on your computer. Cristian for example, created a pending order when the price reaches a certain level. It’s like monitoring your trade. You will have to place your trades with a specific broker and use an MT4 as an intermediary.
We hope that these tips can be helpful for your daily trading! Remember to use them to avoid making mistakes. We invite you to visit Cristian AP’s channel on YouTube where you can find a high range of learning about trading in general. We trust that this information will be very useful for your training. You’ll be a successful trader!