How to Overcome Fear in Trading?

Trading can be an exciting and potentially lucrative career or hobby, but it can also be frustrating and stressful. One of the biggest challenges that traders face is fear. Fear can prevent traders from taking calculated risks and making trading decisions that could lead to profitable trades. In this blog post, we will explore why do traders have fear when trading and give some actionable tips for overcoming fear in trading. Let’s get into it!

Why Do Traders Have Fear When Trading? 

Fear is a natural emotion that humans experience in response to perceived danger or threat. Let’s take it back to medieval times when the only priority of people was to survive and run away from predators. Our brain is built for survival, so it will always detect danger and will try to give us a signal that something is wrong.

When it comes to trading, fear can arise from a number of different sources. One of the most common sources of fear in trading is the fear of losing money. Traders may worry that they will make a mistake or that the market will turn against them, resulting in significant losses. 

Fear can also arise from a lack of confidence in one’s own abilities or from external pressures such as the opinions of others. Lack of confidence is a big problem for traders, as usually confidence is built by having profitable trades, but if a trader does not have any profits – then it could be quite a disappointing situation to be in.

Another reason traders may experience fear is due to their own expectations. Many traders enter the market with high expectations, believing they will make significant gains quickly. When the market does not behave as expected or losses occur, fear can set in and cause panic. That can lead to further emotions like overtrading or doubting the next trading opportunity.

As you can see – there are plenty of reasons that traders are fearful when trading. It is really important that a trader digs deep into the core of their fear and find out what is the exact reason for their fear being present when trading.

Steps to Handle Fear of Losing when Trading

After you have done some digging into your root causes of fear, here are some solutions on how to battle it.

• Develop a Trading Plan 

One of the most important steps in overcoming fear in trading is to develop a well-thought-out trading plan. This plan should include specific entry and exit points, risk management strategies, and a clear understanding of market trends and conditions. Having a solid plan in place can help traders to feel more confident in their decisions and reduce the risk of impulsive, fear-based trades.

We advise that you make your trading plan as systematic and as easy to follow as possible. This way – you will think and fear less when trading.

• Manage Risk

Another effective way to overcome fear in trading is to manage risk effectively. This means setting stop-loss orders, avoiding overleveraging, and only trading with money that you can afford to lose. By managing risk, traders can reduce the potential losses that could trigger fear and panic.

Furthermore, find out what is a comfortable risk for your risk tolerance. For some traders – 1% risk can be little. But for other traders – 0.25% risk can be a lot. So, find your sweet spot and find out what you are comfortable risking per trade – either a monetary amount or a risk percentage.

• Practice, Practice, Practice 

Practice is key to overcoming fear in trading. Before putting real money on the line, traders should spend time practicing their strategies and techniques. This can be done through paper trading, backtesting, or using a demo account. By practicing in a risk-free environment, traders can gain experience and confidence without the fear of losing money. Only then – they can transition to live trading with a small capital.

• Focus on the Process, Not the Outcome 

Traders who focus too much on the outcome of a trade are more likely to experience fear and anxiety. Instead, traders should focus on the process of trading, including their strategy, risk management, and analysis.

If you channel your focus on your strategy and execution, you are less likely to fear taking losses and losing money. Trading becomes like a game.

• Seek Support and Guidance 

Trading can be a lonely and isolating activity, but it doesn’t have to be. Traders can seek support and guidance from other traders, mentors, or trading communities. Talking to others about fears and concerns can help traders to gain perspective and develop strategies for overcoming fear.

At Neurostreet Trading Academy, we pay attention to every trader, guide him on the way to profitability and ensure our traders are psychologically fit and balanced when trading so that they can generate exquisite trading results!

Overcoming Fear of Losing in Trading – Conclusions. 

Fear is a natural emotion that can affect traders in many ways. Always remember that we are humans and our brain is protecting us from danger. So, in order to be a trader, you need to experience a mindset shift.

By developing a trading plan, managing risk, practicing, focusing on the process, and seeking support and guidance, traders can overcome fear and start making consistent profits. Remember, trading is a journey and not a destination. It takes time, practice, and patience to become a consistently profitable trader, but with the right mindset and approach, it is possible to overcome fear and achieve your goals.

Day Trading Stocks & Options versus Futures

Day trading is a popular trading strategy among traders, investors, and speculators who seek to make profits by buying and selling securities within the same trading day. While day trading is an extremely difficult business, many people are captivated by it and the monetary return trading can offer. Day trading stocks, options, and futures are three common financial markets that offer different opportunities and challenges for day traders.

In this blog post, we will compare and contrast day trading stocks and options with day trading futures and highlight their benefits and drawbacks for day traders. We will also delve into the importance of technical analysis and fundamental analysis in these markets.

Day Trading Stocks and Options 

Stocks and options are two of the most popular financial instruments for day traders. A stock represents ownership in a company, while an option is a contract that gives the buyer the right (but not the obligation) to buy or sell an underlying asset (such as a stock) at a certain price (the strike price) before a certain expiration date.

Benefits of Day Trading Stocks and Options 

One of the main benefits of day trading stocks and options is liquidity. These markets are highly liquid, which means that there are always buyers and sellers willing to trade. This makes it easier for day traders to enter and exit trades quickly, without having to worry about slippage or lack of buyers/sellers.

Another advantage of day trading stocks and options is flexibility. Traders can choose from a wide range of stocks and options to trade, based on their trading style, risk tolerance, and market conditions. This means stocks and options day traders have a very wide variety of trading opportunities on a daily basis.

Furthermore, there are many sectors within the stock market and by using the right tools, a day trader can always look to trade the best performing sectors, which gives day traders and incredible edge in the stocks and options markets. For example, if the technology sector is performing the best for the day, a trader can solely focus on finding the best tech stocks and options and trade those only. This offers stocks and options day traders and incredible edge in these financial markets.

Drawbacks of Day Trading Stocks and Options 

One of the main drawbacks of day trading stocks and options is volatility. These markets are prone to sudden price swings, which can result in significant gains or losses for day traders. It is crucial for traders to have a solid understanding of market dynamics and risk management strategies to avoid excessive losses and always keep their capital safe. Stocks usually move a lot based on company news releases, so traders have to always be careful when a company has bad news, as it can result in a significant and fast loss.

Another challenge of day trading stocks and options is the high capital requirement. In order to trade stocks and options, traders need to have a significant amount of capital, which can limit the number of trades they can make and their ability to diversify their portfolio. Fortunately, we have the right solution for that, so keep reading.

Technical Analysis and Fundamental Analysis in Day Trading Stocks and Options 

Day traders in the stock market often rely on both technical analysis and fundamental analysis to identify highly-probable and profitable trades. Technical analysis involves using charts, technical indicators, and patterns to identify price movements and trading opportunities. Fundamental analysis involves analyzing a company’s financial health, management, industry trends, and other fundamental factors to determine the stock’s intrinsic value and potential for future growth.

Traders who use fundamental analysis often use scanners to identify stocks that meet their specific criteria, such as revenue growth, earnings growth, and financial stability. These scanners can help traders find stocks that meet their specific needs and can be an effective way to filter through the thousands of stocks available for trading.

At NeuroStreet Trading Academy’s Stocks & Options Prop Trader Program, we give you all the scanners, fundamentals and technical analysis tools, so that you know how to filter out the best stocks out of the thousands available in the market.

Day Trading Futures

Futures are financial contracts that obligate the buyer to purchase an underlying asset (such as a commodity or currency) at a predetermined price and time in the future. Futures are commonly used by producers and consumers of commodities to hedge against price volatility, but they are also used by traders and speculators to make profits by buying and selling futures contracts.

The most common futures that day traders speculate on are indices futures, like S&P500 (ES), NASDAQ100 (NQ), US30 (YM), commodities futures like Crude Oil (CL), Gold (GC) and also some currency futures like Euro (6E), Japanese Yen (6J) and more.

Benefits of Day Trading Futures 

One of the main benefits of day trading futures is leverage. Futures contracts are highly leveraged, which means that traders can control a large amount of assets with a small amount of capital. This allows traders to make significant profits (or losses) with a relatively small investment. For example, a leverage of 1:100, allows you to control $100, with only $1 in your trading account. Amazing, right?

Another advantage of day trading futures is transparency and regulation. Futures markets are highly regulated, and trading data is publicly available, which means that traders can analyze market trends and make informed trading decisions.

Drawbacks of Day Trading Futures 

One of the main drawbacks of day trading futures is liquidity. While some futures markets (such as the S&P 500 futures) are highly liquid, others (such as the agricultural futures) can be less liquid, which can make it more difficult for day traders to enter and exit trades quickly. But of course – a trader can make the choice to only trade indices and currencies futures, which are highly liquid.

Another challenge of day trading futures is volatility. Like stocks and options, futures markets are prone to sudden price swings, which can result in significant gains or losses for day traders, if strict risk management is not applied.

Furthermore, there are not many brokers that offer futures trading, so a day trader has to be careful when choosing the right broker and platform for their trading business. 

Which one is better – Futures or Stocks & Options 

The reality is that both financial instruments are great and one is not better than the other.

It really depends on you as a trader. There are different resources available for trading both financial instruments. As previously mentioned – trading stocks will require you to use fundamental scanners, price gappers and other scanning tools. Stocks are based a lot on major news catalysts, so that is where trading opportunity is – within expanding or dropping stocks.

With futures – you can only focus on a few charts, which offers you more focus and you can be more technical in your trading. If you love technical analysis and indicators – that could be the better market for you! 

Our advice will be to try out both. Trade on a simulation account, test out different trading strategies, instruments and markets. Find out what is comfortable for you and then stick to the market that you love.

At NeuroStreet Trading Academy, we are the #1 school for Futures trading and we just launched a school for trading Stocks and Options, both of which focus on making you a funded trader and making 4-figures per day. 

So, if you’d like to take a short-cut in your learning curve and learn from experts in the fields with decades of experience – join us at NeuroStreet.

A Guide To Understand Better The Technical Analysis

Technical analysis is a trading discipline that is used to evaluate investments and identify trading opportunities by analyzing statistical trends that occur in the market over time. It is a popular approach to trading in which traders use charts, indicators, market patterns, and other tools to make investment and trading decisions based on past price movements.

As we’ve heard the famous saying: “History repeats itself”, this also applies to technical analysis. Patterns that have worked in the past have a high chance to work in the future. 

In this blog post, we will discuss what technical analysis is, why it is important, and how to use it in order to gain an edge in the financial markets.

What Is Technical Analysis?

Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Traders who use technical analysis believe that market trends, both uptrends, and downtrends, can be identified and predicted through the analysis of historical market data.

Technical analysts use charts and other tools to identify patterns and trends in the market, such as support and resistance, supply and demand, market formations like double tops, head and shoulders, and many more. They then use this information to make an educated guess of where the price could go next.

Have you ever asked yourself: “Why does technical analysis work?”. The psychology behind technical analysis is that the market is a collective of millions of individuals, all seeing the same patterns. Over time, traders have spotted numerous patterns, built different strategies, and acted the same way when they see a specific pattern. So, when 1 million traders see a double top, they are all likely to predict the market is going to reverse down.

The downside is that market patterns like this can be manipulated by banks and big financial institutions. If trading was as easy as spotting a double top, everyone would be a rich trader. It takes a lot more than just technical analysis.

Why Is Technical Analysis Important?

Technical analysis is important because it helps traders identify patterns and trends in the market that may not be visible to the naked eye. By analyzing past market data, traders can gain insight into how the market may behave in the future.

One of the biggest advantages of technical analysis is that it can be used to identify key support and resistance levels. These levels represent prices at which a security is likely to experience significant buying or selling pressure. Traders can use this information to determine when to buy or sell a security, and at what price.

Furthermore, by analyzing price action, traders can see the footprints of big banks and financial institutions. If there is a momentous move happening away from a factionary level of 1.15000, then if the price pulls back to that same level – it is most likely the market will react, find demand and provide another push from that zone.

Another advantage of technical analysis is that it can be used to identify trends in the market. Market structure is the foundation of trends. Every trader must learn to read market structure and identify structural levels like Higher Highs, Higher Lows, etc.

And now you might ask: “OK, how do I perform technical analysis?”. Let’s have a look!

How To Use Technical Analysis

Technical analysis is a very broad concept. There are multiple ways to go around it. A trader can just observe raw price action, while other traders can use a combination of price action and indicators to find a happy medium. Every trader has to find out what works best for him and build a strict strategy around it.

To use technical analysis effectively, traders must first understand the basics of chart analysis first. Charts are graphical representations of market data that show price and volume information over time.

One of the most common types of charts used in technical analysis is the candlestick chart. Candlestick charts show the open, high, low, and close prices for a security over a given period of time. By looking at the patterns of these candles, traders have ample opportunities and ways to determine market trends, entry signals, and more.

At NeuroStreet, we suggest that traders first learn how to read candlestick charts and build their price action understanding. That is the foundation of any trading strategy. After this is mastered, we have designed special indicators, that can automate your trading processes.

There are a number of technical indicators that traders use to analyze the market. These indicators are mathematical calculations that are based on the price and/or volume of a security. Some of the most common technical indicators include moving averages, relative strength index (RSI), and stochastic oscillators.

As with price action, there are many ways to go about indicators. Even if we only take moving averages – they can have different periods (8,21,200) or different types of moving averages (exponential, linear, etc.) and you can be using a combination of multiple moving averages. It is a complex journey to build a strategy based on indicators.

Hence why, at NeuroStreet, we’ve done all the work for you! NeuroStreet is powered by Architects of Algos and Indicators (ARC-AI), who specialize in creating cutting-edge indicators and provide a full strategy alongside. So, if you are looking for indicators – look no further!

Conclusion

Technical analysis is an important tool for traders who want to make educated investment decisions. By analyzing past market data, traders can gain insight into how the market may behave in the future because history repeats itself.

Right now, you should be concluding which technical analysis tools to use. We suggest you start with raw price action, market structure, support and resistance, and supply and demand. Master those and then you can look into adding some indicators that can help you shape the best trading opportunities.

The best place to learn is on the NeuroStreet Trading Academy’s YouTube Channel! Here is a link for it.

In upcoming blogs, we will talk about all those technical analysis tools and focus on their implementation.

Let us know if you have any suggestions or questions. We will be happy to address those. Happy trading!

Day trading any financial market can be a rollercoaster ride, filled with ups and downs. While it is true that a trader’s knowledge of market fundamentals and technical analysis is crucial to their success, trading psychology is perhaps the most important aspect of day trading.

Unfortunately, beginner traders do not realize this. All of their focus goes on learning how to be more effective in their technical analysis, which makes them neglect their emotional intelligence. But after some time, that unpreparedness catches up and a trader experiences a psychological breakdown when having a losing streak or blowing a trading account.

It is important that a trader is aware that trading psychology makes 80% of trading. So, let’s explore what trading psychology is.

What Is Trading Psychology?

Trading psychology encompasses the various mental and emotional factors that can impact a trader’s ability to make rational and informed trading decisions. It involves developing the mental fortitude to remain focused, disciplined, and objective in the face of market fluctuations, uncertainty and trading drawdowns.

At its core, trading psychology is concerned with understanding the cognitive biases, emotional responses, and behavioral tendencies that can influence a trader’s decision-making process. It involves developing strategies to manage these factors effectively, such as by setting clear trading rules, maintaining discipline, and practicing risk management.

One of the primary challenges that traders face when it comes to trading psychology is managing their emotions. Trading can be an intense and stressful activity, and it is common for traders to experience a range of emotions, including fear, anxiety, excitement, and greed. These emotions can lead to impulsive and irrational trading decisions, which can have a negative impact on a trader’s equity curve.

As a day trader, you will face several psychological challenges, such as FOMO, overtrading, doubt, fear, and hesitation. Let’s take a closer look at each of these challenges.

Fear of Missing Out (FOMO)

FOMO is a common psychological challenge that many traders face. It occurs when traders see other traders making money and they don’t want to miss out on the action. This can lead to impulsive trading decisions, such as buying into a stock or currency at the wrong time or chasing a trade after it has already passed. It is the feeling that a move will go without the trader being involved in it. FOMO can mostly occur when a trader is comparing himself to other traders, who are on a different journey and stage of their trading career.

To overcome FOMO, it is crucial to have a well-thought-out trading plan that you stick to. When you have a clear trading strategy, you are less likely to be confused by market fluctuations or what other traders are doing. By sticking to your trading plan, you can maintain discipline and reduce the impact of FOMO on your trading decisions.

Also – make sure to focus on yourself. Trading is a solo-business, so stop looking at what other traders are doing. Everyone is on their own.

Overtrading

Another psychological challenge that day traders face is overtrading. This occurs when traders make too many trades, either hoping to make quick profits or trying to catch up on past losses. Overtrading can lead to a complete lack of discipline and control over your emotions, which usually results in a detrimental trading loss.

To avoid overtrading, it is important to establish a trading plan and stick to it. Your trading plan should include guidelines for when to enter and exit a trade, the amount of money to risk on each trade, and the maximum number of trades you will make in a day. By following your trading plan, you can avoid making impulsive trades and maintain discipline.

Also – set daily trade limits. How many trades are you going to take per day/week? So when you take three to four losses in a row in a day – then just close your charts. It will help in the long term.

Doubt, Fear, and Hesitation

Doubt, fear, and hesitation are also significant psychological challenges for day traders. Doubt can lead traders to second-guess their trading decisions, causing them to miss out on potential profitable trade ideas. Fear can cause traders to hesitate, avoid taking trades, move their stop losses to breakeven too soon and pretty much – screw their trading performance.

To overcome doubt, fear, and hesitation, it is important to have confidence in your trading plan and your ability to execute it. By backtesting your strategy and gathering market data, you can gain the confidence you need to make educated and backed up by data trading decisions.

It is important to focus on consistency, rather than on making profit. Once a trader shifts their mindset towards performance and not results – their trading changes.

Developing a Strong Trading Psychology

To develop a strong trading psychology, you need to start by understanding your risk tolerance. This means assessing how much risk you are comfortable with and developing a strategy to manage it effectively. 

You also need to establish clear trading rules and guidelines, including when to enter and exit trades, the amount of money to risk on each trade, and the maximum number of trades you will make in a day and also how much time will you spend on your charts.

In addition to having a clear trading plan, it is essential to maintain discipline and focus on long-term success rather than short-term gains. This will help you in avoiding those rushed decisions and FOMO to make money fast. If you give yourself a longer time horizon to succeed in trading, you have a high chance of success.

It is also important to manage your emotions effectively. This means being aware of your emotions and developing strategies to manage them, such as taking a break from trading when you are feeling stressed or anxious. You can also use tools like meditation or breathing exercises to help you manage your emotions and maintain focus during the trading day.

At NeuroStreet, we also teach Cognitive Performance, which you can check out on our website.

Traders, let us know what is the main psychological barrier you have as a trader, so that we can help you transcend those obstacles and turn you into a fully fledged profitable trader!

When it comes to trading, it’s never a one-size-fits-all approach. Every trader has a different lifestyle, preferences, and financial goals, and it’s important to find a trading style that perfectly suit those needs. In this blog article, we’ll take a closer look at the four major trading styles and all details about them.

Scalping Trading – getting in and out of the market in the matter of minutes.

Scalping is a popular trading style where a trader takes a position and holds it for just a few minutes or hours. Scalpers typically aim to profit from small price movements in the market, and they often trade on lower timeframes, such as the 1-minute or 5-minute charts. Scalping trading strategy requires a high level of focus, concentration and discipline, as traders need to make quick decisions and act fast. Scalpers usually use price action, combined with indicators to pick their trading opportunities.

It’s also important to note that scalping can be more time-intensive, as traders need to be present and focused during the entire trading session. Usually, scalpers will trade during the whole London or New York session and are required to stay in front of their screens. Therefore, if you prefer a more active trading style and you have four hours of time to dedicate to trading per day – scalping could be for you. And don’t forget – you need strong nerves for that!

Day Trading – capitalizing on the intraday price action.

Day trading slightly resembles scalping, as traders hold positions for a short period of time, typically a few hours or less. However, day traders usually trade on higher timeframes, such as the 15-minute or 60-minute charts, and they often analyze their charts just once per day. Their analysis starts from the higher-timeframes, such as the 4-hourly and Daily and then they utilize the lower timeframes to get their sniper entries.

Day traders aim to take advantage of intraday price movements, and they often use technical analysis to identify trading opportunities. If you do not like the lowest timeframes (1-5 minute), but you love to be looking at the market from an intraday perspective and still close your trades at the end of the day – then day trading is your pick!

Swing Trading – catching the weekly move.

Swing trading is a trading style where traders take positions and hold them for a few days to a few weeks. Swing traders often analyze higher timeframes, such as the weekly, daily and 4-hour charts, and they use technical and fundamental analysis to identify potential trading opportunities. 

Swing traders make profit from medium-term price movements and are willing to hold positions through short-term market fluctuations. Swing trading requires less time and attention compared to scalping and day trading, making it a good fit for those with busier schedules. This is perfect for traders working 9-5, as swing trading is the most famous with its “set and forget” approach. You can analyze your charts in the evening, set your trades and forget about them.

Positional Trading – no time to monitor charts at all? Try this!

Positional trading is a trading style where traders take positions and hold them for weeks, months, or even years. Position traders often analyze the highest timeframes, such as the weekly, monthly, quarterly charts and they leverage their fundamental analysis to identify potential trading opportunities. 

Position traders aim to profit from long-term price movements and are willing to hold positions through medium-term market fluctuations. Positional trading requires the least amount of time and attention compared to other trading styles, making it a good fit for those with limited time but still want to put their money to work. Essentially – you invest in the currencies you think will appreciate.

So, which trading style should you pick?

Many traders make the mistake of trying to fit their lifestyles around their trading. What ends up happening is they get another full-time job. In the beginning, it’s very important that a trader asks himself: “Why am I trading?”. The most common response is “freedom” – mostly financial, time and location freedom. So, do you think having a nother 9-5 trading job will help with that? Not really.

Picking a trading style that fits your lifestyle is crucial because it allows you to trade in a way that works for you, rather than trying to fit your life around your trading. Trading is demanding, both mentally and time-wise, and choosing a style that aligns with your schedule and preferences can help you maintain consistency and discipline, which are crucial for long-term success. Pick a trading style that fits your lifestyle and still allows you to do the things you love and do your other job properly. This way, you will be more likely to stick with your trading strategy and avoid burnout or stress.

It is important to test out all the trading styles! Whether you prefer a more active approach like scalping or day trading, or a less active approach like swing trading or positional trading, there’s a trading style that suits you. You can even have a combination of styles – a lot of our traders are scalpers, but they also run swing trades in parallel. Or maybe you decide to take a vacation – then you turn from a day trader into swing trader. 

It’s important to do your research, experiment with different trading styles, and find the one that works best for you. Traders, please remember, trading should fit your lifestyle, not the other way around.

Let us know which trading style you prefer and why.

Why traders overtrade and how to stop it?

Are you constantly rushing into trades? Thinking it will go without you? Executing trades that are not part of your trading plan, because you feel the market will not provide a setup?

 Well, you might be a victim of overtrading – one of the many trading psychology problems traders encounter on their trading journey.

 As a trader, it’s important to be aware of the common mistakes that can lead to poor performance and suffering trading losses. One of the biggest mistakes traders make is overtrading, or entering too many trades in a short period of time. This can happen for a number of reasons, including Fear of Missing Out (FOMO), a lack of discipline in sticking to a trading plan, the desire to make money (fast) and not having a long-term vision for your trading business.

 Overtrading is a common problem for new traders, as they may feel the need to constantly be in the market in order to make money. However, this approach can lead to impulsive and poorly thought-out trades, which can result in significant losses and losing streaks. Additionally, overtrading can also lead to emotional exhaustion and burnout, which can negatively impact a trader’s overall performance.

 

How do you feel after a run of overtrading? Tired, exhausted, pissed at yourself and you probably have thoughts of giving up. Remember, that trading is an emotional game and emotions are energy. The more emotional you are, the more energy you consume and the less focused you become when trading.

 

How to stop overtrading?

 To avoid overtrading, it’s important to have a well-defined trading plan that outlines the specific conditions under which you will enter and exit trades. This plan should take into account your risk tolerance, as well as your overall trading strategy. Simply, you need strict rules on when and how to enter, exit and manage your trades. Make it so strict, that it’s impossible to take trades outside of your trading plan.

 It’s also important to limit yourself to a certain number of trades per day or week, to ensure that you’re not getting caught up in the excitement of the market and making impulsive decisions. For example, you can only take 5 losses per day. The moment you take your fifth loss, you have to be disciplined enough to close your charts and call it a day. That’s where discipline kicks in!

 Another important tool for avoiding overtrading is keeping a trading journal. This journal should include both an emotional component, in which you record your feelings and thoughts before and after each trade, and a technical component, in which you record the specifics of each trade, including the setup, entry, and exit points. Reviewing your journal on a regular basis, such as once a week, can help you identify patterns in your behavior and make adjustments to your approach as needed.

 In conclusion, overtrading is a common and potentially costly mistake for traders. By having a well-defined trading plan and limiting the number of trades you take, as well as keeping a trading journal, you can become more aware of your own behavior and learn from your mistakes. Remember, trading is a process of continuous learning, and the key to success is staying focused and disciplined.

 So keep learning from your mistakes, keep evaluating your performance and make sure to introduce the right habits to battle your trading flaws.