Quote from: Alone055 on November 30, 2024, 11:54:17 AM

Quote from: Odusko on November 30, 2024, 11:33:33 AM

A lot of strategies are in trading, but have a handful pick of one or two and study them well. It will really help you in your trading journey and to be a good and profitable trader.

A lot of new traders make this mistake. They try to master everything and use them all at once. Although there is nothing wrong with learning everything possible, one should ensure they do not overdo things at all times. If you need to use only one or two indicators, you shouldn't use more than that with the hope that you might do better that way. Excessive use of anything can ruin the essence and affect the results.

Many newbies do this because they have been exposed to too much information. Information they got from YouTube videos, mentors, forums, online tutorials, and lots more. Many of them who lack confidence in themselves would be tempted to try out every single strategy they learn, maybe profits may come Roll Eyes

but, that is obviously not a right thing to do as it might make the newbie trader miss some good opportunities and even get confused at some point.

For every newbie, patience and focus should also be seen as a strategy. Trying out multiple strategies, especially strategies they are not even sure of, does not increase their chances of success. Learning is a gradual process.