Post
Topic
Board Trading Discussion
Re: Scalping
by
South Park
on 27/11/2023, 20:26:00 UTC

In trading you need to gain knowledge those learnings you've got will now execute your trades every trades you made you learn and earn experience, if you win great those learnings applied but if you fail learn from those mistakes, analyze whats wrong with your trades, prevent to deal with again and move forward for your future trades.
One of the biggest problems of a trader is repeating the same mistakes, it seems to me that this deprives the trader of the opportunity to become successful. I'm pretty sure that everyone who found themselves in a difficult situation and did not use a stop loss thought that it could save them money and time, but if after that the trader continues to repeat this mistake and does not use a stop loss in future transactions, then this leads to the same result again.
It is also critical that people learn how to reduce how big their mistakes can be, and for that a stop loss is invaluable, after all it is completely different to make a mistake trading the wrong coin at the wrong time but only lose a small portion of your capital than to lose it all, as if you are the former trader then not only you can learn from your mistake but you can act upon it almost immediately, while if you are the latter trader then even if you learned your lesson there is nothing you can do about it anymore as you have no money to keep trading the markets.