A Losing Day & Trading Mistakes

OFFICIAL WEBSITE: IncomeMentorBox.com

Here at the Income Mentor Box Day Trading Academy, we are all about teaching you to be the best day traders you can be. Our main goal here is to teach you all of the skills you need, and provide you with the required info, so you can day trade like a pro. The end goal here is to ensure that you are a profitable and sustainable day trader so you can quit your 9 to 5 job. Now, there are many trading mistakes which both newbies and pros make.

There is no getting around the fact that trading mistakes happen to everybody, some more than others, and we are no exception. Yes, here at the Income Mentor Box Day Trading Academy, even we can make trading mistakes on occasion. However, the big difference between us or our mentor, Andrew, and trading newbies, is that we have the ability and wherewithal to recognize, identify, and correct trading mistakes so we do not repeat them.

Sure, making trading mistakes will cost everybody money, and yes, we here are not immune to them. Yet, being able to recognize when mistakes were made, and which trading mistakes we made, is more than half the battle. This is a topic we will teach in an in depth manner if you choose to be part of the Income Mentor Box Day Trading Academy.

No, having a losing trading session is not exactly flattering per say, but it does provide us with the opportunity to teach you about identifying major trading mistakes. Now, we also feel like we have showed you more than enough winning live trading sessions, that this one losing session should not be a deal breaker.

After all, when it comes to live trading sessions, we have shown you literally dozens of live winning sessions. We here at the Income Mentor Box Day Trading Academy are not going to hide the fact that we have just made some of our own trading mistakes, and therefore suffered some losses. We are not fearful to talk about our own losses and trading mistakes, because we learn from them, and now so can you. It’s all about being honest, forthright, and reliable traders, and more than that, being trustworthy mentors to you, our loyal day trading students.

A Losing Day – Our Recent Trading Mistakes

So, let’s get right into it and talk about the video which we have embedded here, the one where we lost a bunch of money through bad trades. As you can see in the video, our mentor, Andrew, lost over 700 Euros, and it only took 2 trades for this to happen. Let’s go over the major mistakes Andrew made here so you can learn from them and become a pro day trader on your own! Yeah, it’s not exactly flattering that we manages to lose nearly 800 Euros in just 1 hour, but this does provide us with an invaluable opportunity to teach you about some big time trading mistakes.

Trading Mistakes – #1 – LOOKING AT THE WRONG CHARTS!

This is one of the mistakes which Andrew made today. One of the reasons why we lost such a big trade is because we did not place the trade right. It was a totally incorrect trade. The trading mistake Andrew made here was that he was trading on the go, he was busy, he wasn’t paying close attention, and he ended up using the wrong charts to place his trade. As Andrew discusses in the video, he should have been using a 5 minute chart to gauge his trading position, but in fact, used a 30 minute chart by mistake. Before you enter a Forex or any other kind of trade, you need to look at 5 minute and 1 minute charts.

Of course, we here at the Income Mentor Box, and Andrew, know that this is wrong. The fault lies more with being busy and not paying close attention to the specific chart he was looking at. Trading mistakes are not necessarily technical, and as you can see here, a lot of it has to do with concentration and focus. So, not only do you need to make sure that you are using the right charts when placing trades, but you have to pay close attention too. Placing Forex or any other kinds of trades when you are distracted and not paying 100% attention are trading mistakes we all make, but shouldn’t of course.

Trading Mistakes – #2 – THE WRONG STOP LOSS LEVEL

Another one of the trading mistakes we made today does have to do with the charts, but also to do with support and resistance. The reason we lost so much capital through these two trades was because we set the wrong stop loss level. Andrew, once again due to being a bit preoccupied and distracted, only used a single resistance level to calculate his stop loss levels.

The result here therefore was a stop loss level that was set way too low, and therefore allowed the trading position to haemorrhage pips for way too long. It’s one of those trading mistakes that many people make. In reality, Andrew should have taken at least 3 resistance lines into consideration before setting his stop loss level. It would have prevented such a major cash bleed.

Once again, trading mistakes suck, but being able to identify them is half the battle. We do want to note that we here at Income Mentor Box are aware of these major trading mistakes and how to prevent them. What you may have gathered here today is that these trading mistakes were made due to being inattentive, being on the go, and simply not paying close enough attention.

Preventing Trading Mistakes

Ok guys, there you have it, our own trading mistakes and why they were made. Now that we have identified our mistakes, we can work to correct them and to ensure that they never happen again. Remember folks, if you want to become a professional day trader, our Income Mentor Box Day Trading Academy is undoubtedly the best way to do it. We offer a plethora of course content, we are honest in our results, and we know when trading mistakes were made!

Biggest Trading Mistakes To Avoid

OFFICIAL WEBSITE: IncomeMentorBox.com

If you are sick and tired of losing trades, it might be because you are making big time trading mistakes that you need to avoid. Yes, we here at the Income Mentor Box Day Trading Academy know that this is easier said than done. However, today we do want to cover some of the biggest trading mistakes to avoid, ones which newbies tend to make. We have a great tutorial video included here with tons of useful info to help you start winning those trades!

Trading Mistakes – Investing Everything Into 1 Trade

One of the biggest trading mistakes which newbie day traders are prone to making is to invest all of their money into a single trade. Now, beginners have a tendancy to invest way too much cash into a single trade, or even into a few trades. Folks, this is not going to end well for you. Sure, you might get lucky and win a huge trade every now and again. However, generally speaking, this is one of those trading mistakes that absolutely needs to be avoided.

When you start off as a trader, especially when you do not really know what you are doing, you want to minimize risk as much as humanly possible. If you invest all of your cash into a single trade, or into a couple trades, you are risking everything and hoping that things will turn out well.

Here at the Income Mentor Box Day Trading Academy, if you take our full course, risk management is something you will learn about a whole lot. The fact of the matter is that you want to diversify your investments. This is an old school but reliable trading practice. You want to invest a little bit into a number of trades. The rule of thumb here is that to avoid big losses, only invest 5% to 7% of your total trading capital into a single trade. This way, even if the trade is a loser, at least you won’t bottom out your account. Never put all of your marbles into the same basket!

More Trading Mistakes – Unrealistic Expectations

Another one of the big trading mistakes which beginners always make is that they have unrealistic expectations in terms of results. Newbies will expect to make hundreds of thousands in profits in just a couple days or a couple weeks. Sure, it is great if you like making money, but idealism is very different from realism.

Here, when it comes to this kind of thing, whether Forex, stocks, crypto, or commodities trading, you need to remain realistic. Trading mistakes of all sorts often involve people thinking that they can become filthy rich in a very short amount of time. Yes, this is possible if you are total pro trader and you manage to win all of your trades, but the possibility is slim to none.

Folks, something you will learn here at the Income Mentor Box Day Trading Academy is to keep your goals at a realistic level. Rome was not built overnight, and your bank account functions the say way. You won’t start trading today and be a wealthy aristocrat tomorrow. The world simply does not work this way. Yes, you can slowly work your way up the food chain, but you won’t ever start right at the top.

Serious Trading Mistakes – Beginner Trading ETFs

Yet another one of those big time trading mistakes which many newbies make is to trade ETFs. This stands for exchange traded fund. Now, yes, this kind of trading can be very profitable indeed. However, if you have not yet gone through our Income Mentor Box Day Trading Academy course materials, you won’t stand much of a chance at winning any of these trades.

ETFs, whether they are bond ETFs or stock ETFs, are notoriously hard to win. The charts for ETFs are hard to read, it is hard to predict price movements, and volatility for ETFs is totally off the chart. You need to be a pro to trade ETFs, at least if you expect to make money doing so. As a newbie, you should absolutely stay away from ETFs because they are super risky to trade with. Avoiding trading mistakes as a beginner means staying away from certain types of trades, such as ETFs for example.

More Trading Mistakes – Over-Trading

The next one of the serious trading mistakes that you need to know about is trading too much at once. Yes, this is somewhat related to our first point of investing too much cash per trade, but there is a difference. Newbie traders will make the mistake of thinking that more is better. Ok, so you shouldn’t invest more than 7% of your capital per trade, so this means you can just place 100 trades, right? WRONG!

This is one of those big time trading mistakes that can cost you a whole lot of money. Sure, as a pro, you might manage to have 10 or 15 trades open at once. However, if you don’t really have too much experience with day trading, this can very quickly lead to your downfall.

Simply put, having more than say 5 trades open at once is very hard and risky. The fact of the matter is that you have to keep track of all of your trades at once. What happens if several of them start going downhill, and doing so fast, but you just do not have the skills or speed to keep up? What will happen is more trading mistakes and massive cash losses. As a beginner, something we teach here at the Income Mentor Box Day Trading Academy, is to never overtrade. It is simply not worth it.

Avoiding The Biggest Trading Mistakes – Final Thoughts

So, here we have covered some of the biggest trading mistakes that many newbies make. However, they are not all of the biggest trading mistakes. If you watch the video which we have included here, you will find out about even more big trading mistakes.

Even better, if you join our Income Mentor Box Day Trading Academy, you will learn about all of the trading mistakes which you need to avoid. Our academy only costs $299, and it is a onetime payment with no hidden fees. You will gain access to a plethora of trading lessons, a free EBook, and a free signals provisions service as well!