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Mistakes.
My mistakes. And I think - many people can do same mistakes.
- trade without stop loss.
It is mistake. In this kind of breakout system - it is very risky to trade without stop loss.
Always place stop loss.
- aftraid to make a loss.
It is mistake. Do not be affraid when your trade had stop loss. Do not affraid for losses.
- "I want to trade every day" case. I call it "I want to trade" disaster. It means: I am sitting looking on the chart ...1 hour, 2 hour ... and than I started to think: "many people are openning and closing the orders already and made good money but what I am doing?! Well, let's open the order! I want to trade every day!".
It is disaster. Illness.
- trade without simple analysis concerning what happened with the market/price when I slept.
It is mistake.
Always make any simple analysis before openning the trade.
It is the same as you are going by long-distance train and when you wake up in the morning so the first question is "where I am? Which city? Which country? Is it day or night now? 6 am or 6 pm?"
If we are making simple analysis so we will know what the price did before we opened Metatrader in the morning.
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That's all news.
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