The 5 trading mistakes that cost me £10,000s in forex and crypto

Don't make the same mistakes that I did in my forex and crypto trading journey. These issues cost me both money and time!

In this video, I run down what problems I faced and how I overcame them to become a consistently profitable trader.

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00:00 - intro
00:35 - 1. too many charts on the watchlist
03:51 - 2. not having set hours to trade in
06:44 - 3. taking other people's trades
09:00 - 4. trying too many strategies at once
13:05 - 5. lacking discipline

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🗒️ ABOUT ME:

I'm Matt and I've been trading forex since 2015 and Bitcoin since late 2017. I live in the UK and am now starting to share my experiences from the trading markets on how I became profitable and how I maintain consistency through focusing on trading psychology and self improvement.

#forex #forextrading #bitcoin #bitcointrading #crypto #cryptotrading #tradingmindset #tradingmistakes #tradingstrategy #tradingvlog #forexvlog #forextrader #forexlifestyle #cryptocurrencies

[TraderMtt]

What are some of your trading mistakes that I didn't mention?

[nicolaprosperi]

hi Matt and thank for the kind slap in the face😅. I struggle with quite everything you pointed out, but I think, from my experience, that lack of discipline is the mother of all the other prob.
thank you again for sharing and have a nice day🙏

[dirtyhammer]

brilliant video Matt. Loved the detail you went into RE having too many charts and its impact on your focus and discipline - its rarely mentioned on CT etc

[marcorodrigues]

Thanks for another great video, Matt.
Personally, my greatest mistake is not sticking to my strategy and getting the wrong entries (because of FOMO). I guess the anxiety of making trading a way of living and being able to ditch my current job compells me to be frustrated when I miss so many opportunities where the market moves without me, even if it doesn't show the correct signs.
Like many succesfull traders here say: "don´t focus on the results, focus on the process", but it is very hard when you realize it is taking way longer than you initially expected.
Also, in my case I tend to be very brave when I am in an operation that is going against my position (and frequently it hits my stoploss), but rather a chicken when the operation is going in my favour (and leave before it hits my target) so my win / lose ratio is not that great.
Cheers from Brazil.

[Blue_]

great video mate..two observations, with crypto the NY morning is mostly the active period with lots of volatility which sucks for me in the central european zone, it coincides with the family or commute hence my inclination towards swings but not in the last 8 months of range :( the other thing is i more failure i would add is "trading from mobile", you know what mean