My Biggest Mistake: Don't Repeat

In the process of getting acquainted with the trading market, it is not uncommon for initial mistakes to lead us astray. One of the most valuable lessons that many new traders learn is: do not focus on minor details, look at the overall picture of the market. Below is a detailed article to help you understand more about the core factors for successful trading.

1. Identify Market Trends The market always moves in trends: uptrend, downtrend, or sideways trend. Understanding and identifying trends early helps you: Adjust trading strategy: Trading in the direction of the trend, whether up or down, will be more effective. Utilize support tools: Use tools such as moving averages or trend lines to confirm the general trend.

Note: "Trend is your companion until it ends." Recognizing the trend not only helps increase the chances of success but also reduces the risk from random market fluctuations. 2. Support Area and Demand These two factors are the key to predicting price reversals: Support area: The price level at which buying pressure accumulates strongly, helping to prevent deep price declines.Demand area: Where buy orders are concentrated, often creating a rebound or upward trend in prices. Points to note: Observing price action: Instead of just memorizing candlestick patterns, pay attention to price reactions when touching support or demand levels. Risk-reward ratio: Understanding these areas clearly helps you make reasonable entry and exit points, optimizing the risk-reward ratio. 3. Risk Management - An Unavoidable Factor No matter how good your strategy is, the market always contains uncertainty. To protect capital, you need: Set stop loss level: Always place a stop loss order from the beginning to limit losses. Calculate position size: Adjust the trading volume to match the available capital and permissible risk level. Diversify trades: Do not put all your eggs in one basket, allocate risk across different instruments. 4. Psychology And Discipline - The Key To Success Trading is not only a game of numbers and charts, but also a psychological puzzle: Emotional control: Fear, greed, or haste can all lead you to make mistakes. Focus on the plan. Adhere to the strategy: Effective trading plan requires high discipline, not letting emotions dominate. Continuous learning: Every failure is a lesson. Join the trading community, learn from experienced mentors to improve yourself. 5. Candlestick - Support Tool, Not Everything Many new traders often fall into the trap of trying to remember each candle pattern. However: Candlestick patterns are just a small part of the big picture. Take the time to understand factors such as trends, support, and demand first. Once you have a solid foundation, you should gradually apply candlestick patterns such as reversal candles, engulfing candles, and inside candles to refine your analysis. 6. Advice for Beginners To have a solid start in trading, you should: Starting from the basics: Focus on price action, trends, and key support and resistance levels. These are the fundamental factors that will determine your success. Keep it simple: Stay away from using too many indicators or trying to memorize dozens of candlestick patterns. Develop a stable mindset: Practice discipline and learn to control your emotions in every situation. Seek guidance: Having a mentor or joining a trading community can help you save time and avoid costly mistakes. Conclusion The trading journey requires perseverance, continuous learning, and most importantly, the ability to focus on core elements: trends, support & demand areas, risk management, and trading psychology. Consider each mistake as a valuable lesson, and remember that trading success does not come from memorizing small details, but from understanding the market's operation mechanisms. Wishing you always patience, discipline, and steady progress on the trading path.