7 Fatal Trading Mistakes — Full Breakdown & Transcript

[00:02] to open your manual. I am Lois. And I am Ricardo. And it's about time you stopped being a sardine and became a shark, don't you think? Or at least stop becoming shark food, right? And the truth is, if you're

[00:15] here, it's because first you looked at the video title and second because you've probably already broken down or are afraid of breaking down. And the truth is that today we're going to talk about seven fatal mistakes that 90%, in fact more than 90% of

[00:31] 90%, in fact more than 90% of traders make and end up giving up. And it is precisely because of these mistakes. And if you want to survive in this madhouse called the financial market, stick with us and I doubt you'll be faster

[00:44] than our intro and give us a like now. I was faster.

[00:58] like going to the market hungry and without a shopping list. You'll come back with three tubs of ice cream, a duck float, and you'll even forget the rice. Yes, and the name for that, besides inattention, is Raven's visions. It's about wanting to predict the

[01:10] future, acting on intuition, and ending up not following a plan. Exactly. Operating without knowing where you're going to enter or exit, just like that, shooting in the dark. AND . And be careful not to stub your toe on the

[01:26] table leg, because having a trading plan is mainly about knowing where to enter, where to exit, where to place your stop loss, and having a little later, but mainly, stick to the plan. You have a

[01:40] strategy, respect your setup, study the setup before acting. And the second mistake is the pursuit of 100% accuracy. Some beginners think that taking a break is a personal offense. The guy loses R$ 50 in a trade and spends

[01:56] the whole day hating the market, thinking it stole his lunch. Yeah, buddy, and you're not some golden goose who'll never take a break. Understand, the stop-loss order is part of the business. It's like renting a store.

[02:09] When you buy something, you don't go around complaining about the cost of electricity or rent; it's part of the package. And another thing, if you want to be 100% accurate, take a tails. Yes, the focus isn't on being a clairvoyant who never makes

[02:23] mistakes, the focus is on being a mathematician. You'll win two for one, three for one. The secret is not to always be right, but to win a truckload of money when you're right, and to lose only a pittance when you're wrong. Focus on consistency,

[02:37] not perfection. If you're right 50% of the time and win twice as much as you lose, you'll be rich. And the third mistake is poor risk management. This kills more people than a bad diet. Can you believe there are people

[02:52] bad diet. Can you believe there are people who risk 20% of everything they own on a 's it, it's not trading, right? That's like playing Russian roulette with five bullets in the chamber. The slightest sneeze from the market can cause your account to explode and you'll become a

[03:05] And the truth is, risk management is like a bulletproof vest. Respect your property. If you risk 2% per trade, you'll have about 50 chances if you make a mistake, or 50

[03:21] chances if something unexpected happens in the market. If you risk 20%, you'll only have five chances, and in 3 days you 'll already be selling your son's video game to pay the brokerage fees. Mistake number four: using money

[03:36] from your energy bill for day trading. For God's sake, don't do that. Imagine you're trading while sweating profusely, watching the charts move against you, and then having no energy the next day. And the truth is this: cool head,

[03:51] warm heart. Trading money is risky investment money, risky investment money, not milk money. If you're trading while thinking about whether or not you'll be able to eat the next day with that money,

[04:04] you'll hesitate when entering, you'll end up exiting at the wrong time, and, well, obviously you'll disregard your plan and end up making your first mistake. So be very careful to only use the money that should be used

[04:20] , what about the financial market? Hmm, in the market you can smell fear and overdue bills. He loves taking money from people who are desperate to pay their credit card bill. The fifth mistake is precisely jumping

[04:33] from one thing to another, from one setup to another—the famous identity crisis. On Monday he will be operating a tape reader. On Tuesday he will operate the PR section. By Wednesday, he's already reading coffee grounds. It's the famous

[04:46] butterfly trader who goes around trying different setups looking for something and ends up with nothing. Be like a bee and go straight to the flower and collect the honey that the market can offer you. Every setup has its round down, which is a bad phase.

[05:01] And the problem isn't the setup. Often the problem is you. You have to understand that every setup has its flaws, and after the first loss, which means changing strategies, you'll never get good at anything. Sure, it's interesting to know

[05:13] how each indicator works, how each setup works, at least the most famous ones, but what's really interesting is to be an expert in at least three setups, expert in at least three setups, and by expert, I mean understanding

[05:25] exactly how they work. In other words, get married to the setup, take it out to dinner, understand its effects, and don't keep changing it at every store. Yes, and if you want to better understand the importance of being an expert in

[05:37] setup, we have a video here that talks about it, and we also have a playlist here with various setups and an understanding of indicators so you can market. And if you're enjoying the video so

[05:51] far, go ahead and give us a like here, it helps us gain more followers and reach more people to help even more. Mistake number six is ​​not recording results, not keeping a trading journal. The guy

[06:06] operates the computer, loses, shuts down his PC, and goes to watch Netflix. Friend, if I ask you where you went wrong the day before, where you went wrong last Wednesday, and you can't answer me, I'll simply say: "Oh, I'm done, I'll go cry in the

[06:20] me." Does trading end when you close the platform? wrong. That's where your office work begins . You have to write everything down carefully. I got in because I was patient.

[06:33] I left because I was afraid. The chart will teach you the technique, but the spreadsheet is what teaches you self-control. And if you want a spreadsheet, send @manualdotraderoficial on our Instagram and we'll

[06:46] send you a spreadsheet that's all set up , completely easy to understand, and will save you money and help you start the year right. That's it . Send us a direct message and And the seventh and final mistake is wanting immediate results. It's like thinking you're going to get rich

[07:01] in three months. I'm going to buy a course today and tomorrow I'm going to take photos in Dubai. Yeah, buddy, if it were that easy, there wouldn't be other professions. Nobody would be driving buses, performing surgery, practicing law, or being a dentist.

[07:15] Everyone was in the financial market. And the truth is, to be successful, you have to spend many, many hours in front of the screen analyzing your trading journal, because trading is a high-

[07:29] performance profession that requires much more screen time and analysis of your trading journal than luck. Exactly. So, respect the process. Have patience, young Padawan. The market rewards those who know how to wait.

[07:42] market rewards those who know how to wait. And as a bonus tip, use the simulator drug, it's free. And another thing, if you lack confidence or aren't even winning in the simulator, imagine a real account where you'll be trading with your

[07:56] heart racing. That's right, don't be ashamed. It's start learning with training wheels. Why lose real money if you can't even find the right " buy" button? So, take it easy, start slowly, and

[08:09] remember, to run a marathon, you can't have the mindset of a 100-meter sprinter. Everything in its own time. Go through the whole process, you must be resilient, like us here recording

[08:24] this video, video after video, hoping for only one thing from you: a like, and if you subscribe to our channel, comment here with video ideas you'd like for future videos, and continue with us on this journey

[08:38] so you can learn better how to operate and deal with the market, okay? videos here with setup indicators, and until next time.