Free Elliott Wave Strategies

How to count waves and the Elliott waves

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Common trading mistakes

1/Trading against the trend.

 

2/Buying during a downtrend.

 

3/Selling during an uptrend.

 

4/Failure to recognize the current trend.

 

5/ No knowledge of consolidation period. 

 

6/ Using trending trading method in consolidation period.

 

7/ Changing trading systems from day to day.

 

8/ Trying every available indicator.

 

9/ Constantly  looking for another trading indicator that will give 100% winning trades.

 

10/ Always looking for the most smoothed indicator instead of paying attention

       to the price, which is the number one indicator.

 

11/ Inaccurate timing of trades.

 

12/ Never, ever pay attention to the economic news.

 

13/ Failure to exit the trade before it is too late.

 

14/ Placing a day trading trade before London or New York opens.

 

15/ Using useless trading tools.

 

16/ Being the most courageous, overconfident, stubborn  trader.

 

17/ Never learn from past mistakes.

 

18/ Never review losing trades to avoid same mistakes.

 

19/ Being very greedy, impatient, looking for quick easy big profit.

 

20/ Trying to recover all long term losses in a very short period of time.

 

21/ Being desperate and trying everything and losing focus consistently.

 

22/ Failure to acknowledge the reality of the price action.

 

23/ No discipline, no willingness to respect and follow a trading system rules.

 

24/ Inability to trade faithfully, a trading system from A TO Z.  

 

25/ Placing trading stop loss inside the Bollinger  bands.

 

26/ Sleepless night, trading the quiet Asian session.

 

27/ Failure to draw the trend line.

 

28/ Never ever draw the trend line.

 

29/ Never ever wait for the trend line to be broken before placing the trade

 

30/ Always looking at indicators without looking at the price. 

 

31/ Always relying on the indicators instead of the price itself.

 

32/ No trading goal.

 

33/ No trading target for each day, each week or month.

 

34/ Selling at valid support zones.

 

35/ Buying at valid resistance zones.

 

36/ Inability to recognize clearly a valid support or resistance level.

 

37/ Too much or crazy high leverage.

 

38/ Using bullish chart patterns in a strong downtrend.

 

39/ Using bearish chart patterns in a strong uptrend.

 

40/ Never ever look at the monthly chart.

 

41/ Showing total disrespect to the weekly and daily charts.

 

42/ No understanding at all of the multiple time frame trading rules.

 

43/ Never want to know what is the Top-Down Trading         method.

 

 

44/Still making trading decisions on the lower time frames instead of the higher time frame.

 

45/ Failure to understand that the higher time frame always commands the lower time frame.

 

46/ No knowledge of the market patterns.

 

47/ Failure to differentiate between market patterns and price patterns.

 

48/ Placing too many trades at once.

 

49/ Over-trading.

 

50/ Serious misuse of the Slow Stochastic indicator or any other oscillators or indicators. 

 

51/ Trying to force the market.

 

52/ Never use a guarantee stop loss or even a simple stop loss or playing with live fire. 

 

53/ Trading with money, one can not afford to lose.

 

54/ Insufficient trading capital and immaturity  to trade like a pro.

 

55/ Feeling bored and placing ridiculous crazy trades.

 

56/ Looking for trades that are not present.

 

57/ No time for family or friends at all.

 

58/Thinking that life is all about trading and nothing else matters in Life

 

59/ Constantly blaming everybody except oneself. Total irresponsibility.

 

60/ Feeling bitter, angry, hopeless and giving up on life completely and failure to enjoy other thing in Life.

 

61/ No money management at all.

 

62/ Buying too late at the end of the uptrend or when the uptrend is weakening.

 

63/ Selling too late, when the downtrend is weakening or coming to the end. 

 

64/ Taking too much risks.

 

65/ Taking low probability trades with high stop loss.

 

66/ Blaming God for one own mistakes.

 

67/ No trading systems.

 

68/ No trading plan.

 

69/ Never pay attention to chart patterns on the thirty minutes chart, daily chart or weekly chart.

 

70/ Do not know when to exit a trade.

 

71/ Constantly giving away trading  profit.

 

72/ Shorting stocks for swing trading without checking the financials.

 

73/ Too proud to learn or to ask for help.

 

74/ Going long for swing trading during the bearish period of SEPTEMBER TO OCTOBER.

 

75/ No knowledge of the trading seasons.

 

76/ No consideration to the volatility.

 

77/ No consideration to the S&P 500

 

78/ No consideration to the major indexes.

 

79/ No consideration to the VIX and to the other market internals. 

 

80/ No attention to the sector or to the economy in general or to the consumer confidence.

 

81/ Focusing on making quick fat money instead of building the ability to trade like a pro.

 

82/ No respect whatsoever to the professional traders or even to the opening and closing bell.

 

83/ Thinking that the stock market is his/her father's business.

 

84/ Failure to acknowledge owns weakness and strength.

 

85/ Having unrealistic goals and ambitions.

 

86/ Dependence on trading robot to do the trading work for you

 

 

87/ QUITE HAPPY WITH CONSISTENT LOSING TRADES AND WILL NOT LIFT A FINGER TO DO ANYTHING ABOUT IT.

 

88/ THANK YOU FOR READING AND BEST WISHES FOR YOUR TRADING.  UNTIL THE NEXT TIME ENJOY YOURSELF.

       AND BE VERY HAPPY.    Georgetrio 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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