When in doubt, stay out!… If you’ve been trading for a while, you probably have heard that saying. It took me a long time to realise that when I have doubts before entering a trade it is much better to rather not enter it.
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Author: tradingsossos
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On Trading Mistakes
We’re all bound to make mistakes as traders. And making them is okay as long as we learn from it and try our best not to repeat them. Repeating trading mistakes often mean that you’re careless or that you’re not serious about your trading.
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Edge First
If you are one of those traders that think psychology is the most important aspect when it comes to being a successful trader, I would say you are right. But, I feel that many traders jump too quickly to the conclusion that psychology is the root of all their problems.
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See daily chart of USDCHF below for the discussion that follows.