❌ Panic closing trades when price retraces
You just entered a trade, price retraced a few candlesticks and you rushed to cut your losses.
Result: The price then moves in the right direction and hits Take Profit without you.
Solution: Trust your Stop Loss. Price retracing to the OTE area or retesting is completely normal. Stop Loss should be placed below market structure, not right at the entry point.
❌ Moving Stop Loss further away
Price is about to hit the Stop Loss, you should lower your SL further to avoid being stopped out.
Result: Price continues to move against you, and you incur a larger loss than expected.
Solution: Stop Loss should only be set once. Never move it in a direction that is unfavorable to you. Accept the risk you defined from the start.
❌ Taking profit too early
Price moves slightly in your favor, and you rush to take profit out of fear of losing gains.
Result: You make very little while the market continues to run much further.
Solution: Be patient and wait for TP1. You may take partial profits at TP1 and hold the rest for TP2. Don’t let fear make your decisions.
❌ Monitor every price move
You keep staring at the chart, refreshing every few seconds and reacting to every candlestick.
Result: Tension rises and decisions become emotional.
Solution: Set alerts at TP or SL and step away from the screen. Come back when the alert is triggered.
❌ Averaging down while losing
Your position is in the red, you increase the volume to lower your average price.
Result: Price continues to move against you and your losses double.
Solution: One entry point. One Stop Loss. One trading plan. Don’t add positions to a losing trade.
❌ Revenge trading after a loss
You just lost 1% of your account and want to recover immediately.
Result: Random entries lead to greater losses.
Solution: Limit the number of trades per day (2-3 trades). If you hit your maximum loss for the day, close the charts and come back the next day.
IMPORTANT LESSON
Most of the mistakes made don’t stem from strategy.
They stem from emotions.
Often, the issue isn’t with your trading system.
It lies in your inability to control yourself.
👉 Master your emotions, or let your emotions master your account. 🙏💪