Top 3 MOST EXPENSIVE Beginner Trading Mistakes I Made, But YOU Can Easily Avoid!

"at the beginning of my trading career for about the first two years i made three huge trading mistakes that cost me a lot of money and even more importantly cost me time i'll never get back"

"the biggest mistake i made and the first most expensive mistake i personally ever made in my trading was i started trading with real money before i learned how to trade"

"after you've mastered the basics you've mastered technical analysis the third step is to build or learn a strategy you must master a strategy"

"back testing and optimizing took me a year"

"two of the most important concepts any trader can learn master and use to their benefit are risk management and their trading psychology"

"it's gonna be hard to get really good at trading psychology without actually risking small amounts of money because until you experience a drawdown that you come out of profitable"

"demo trading for a certain amount of time let's say between one and three months if you see your system go in and out of drawdown a couple of times throughout that three months that three month period that you demo trade that's gonna do wonders for your trading psychology and your confidence"

"my expectation coming into the market at 19 years old was 6000 was this was my path to do so and i thought it would happen within the first couple of weeks or months"

"making somewhere between four and seven percent per month is a great place to start that being a goal and even go as far as say expectation"

"i'll have months that lose two then an 18 month where i made 18 then i'll have a month that was just break even might go another month about break even then a loss of five then i'll make 20 then i'll lose 10 that if you're understanding what hopefully you're understanding this what i mean by this is every month essentially is about random for me until the end of the year"

"the third most expensive mistake that i made throughout my training career and this one is probably one of the most controversial and that is at the very beginning of my trading career about two months after i was losing my own money one of the most expensive things that i did that lost me the most money was i started trying to follow a random trader's signals"

"so what if you join a signal group and throughout the 30 days you're involved it loses money what do you think you're going to do"

"what if this person's risking one percent per trade and you're risking five because you want to you want to increase your account size as fast as possible them going through a losing streak of 10 trades and i know that's heavy it doesn't happen often but you could get into a single group and lose 10 trades in a row it's possible so if they go through 10 losses in a row for them they're risking one percent that's only a ten percent drawdown for them in terms of the equity in their account they're probably okay with that for you it's a fifty percent drawdown"

"what if that person quits trading or decides to dismantle their signal group or decides to take a vacation on a week that you really need money to pay your bills"

"anytime i got a signal let's say you have a full-time job and you're trying to follow these signals you might get it and be on top of a roof like i was and not have your phone with you because if you drop it off a roof that bit's gonna break so this being the case you're not gonna be able to catch every trade at the exact same time"

"i want to share a free resource with you that will take you through each of these seven steps absolutely free it's this playlist here on our channel"