 Hey, what's going on guys? You're right. It's Mark and I thought I would make this video today just to kind of Share what I think and and you know what I have struggled with before and what I think are the top Kind of free common trading states that people make kind of as they're starting out Especially if you look kind of on with VTORO being quite social you can see what people are saying and posts and so on And again, this is stuff that I've experienced as well So I thought I would just share it with you and hopefully it You know hopefully it resonates with you and and maybe it helps you a little bit So the first one is You know just planning out your trades or not planning out your trades before you actually take them right? So I think what a lot of people do is they Just kind of log on and because it's so easy right all you need to do is click buy But and and you can open a trade and it's so so easy to just kind of impulse buy and sell any stock or any Kind of asset on here That it makes it tough to kind of actually sit down and plan out a trade So for example, what I like to do now and what has helped me And over the past couple of months is just kind of taking a look at the charts finding it finding a timeframe that you're comfortable with or just kind of a trading platform that you can Or strategy even sounds a bit corny but trading strategy that you can Get comfortable with just recognize the patterns right plan your trade out so I can see here obviously I set alerts for 6717 so I get kind of a lot on my phone once it goes off I'm not just kind of impulse buy like if it's here and oh, I think it's you know gonna go back up It's actually set an alert here be aware of Where it can go right so that I'm not I'm not sweating I'm not I'm not nervous because I'm aware that it can push down to kind of 66 70 I mean obviously it's got loads of all the way down here Which wouldn't be ideal, but I'm aware that even though it's got this common support here It can push all the way down to kind of these these levels Below here where it's seen previously on the EMA So just kind of plan that out be aware right so plan your buy point What potentially could happen right what would need to happen for you to end the trade right? So if it continues to trend down For me and then push me on this point. That's when I would look to get out the position and Then also have your kind of take profit in one so what needs to happen for you to want to sell the position, right? So for me, I will want to see a break above this EMA and Matthew potentially, you know push out RSI oversold And then kind of look relative to the price point so it will make sense, right? So potentially around this level could you consider seeing some resistance and and so and that's what I do with all of my trades, right? So plan out all of your trades So when are you gonna buy in when would you take profit? What would you expect to happen all in worst and best-case scenarios and when would you cut your losses? I think that was all I know so yeah, so that's that's kind of my my key points for planning a trade So I don't forget all right, so number two the the number two Or the second mistake that I see people making is if we just I haven't actually had a look Stop it's kind of trading against the trend of a stock So just to give you examples that Amazon looks pretty good I mean all the markets sold off towards the back end of last year, so it's gonna be tough to find a good example but For example here, right, especially on the so on the time frame that's relevant to you Why I would just wouldn't want to open a sell position here And I feel like a lot of people try and you know time the tops So they sell at the top and then try and buy at the bottom It's better to just kind of as I say have a plan Go with the trend of the market or if it's a horizontal trend, it's a bit easier and to kind of map it out but if the market is trending up look to Kind of buy with the market and find buying positions, right rather than sell positions if that makes sense, so That's one part of the reason why I never sell stocks from the most stocks is a lot of stocks I trend and I buy or trade a trending upwards. I like to buy with the trend so I'm trying to think of how I can orchestrate this right so for example here, so Amazon's kind of been trending up right and Even though we can see it's peaked out here and it's selling Well, in fact, no, I've got a better example PayPal So I just bought into PayPal and this is like a perfect example, so The trip there's a massive uptrend on PayPal here, right? Can you see how it's got and then it's pulling back and it's pushing up and it's pulling back I would never look to sell here even though on the RSI it's so overbought and the MACD It's overextended I would never want to sell here Just because of the pure fact that the market is trending up and I don't want to try and bet against the The market so if you have a look on the hourly time frame, which is what I traded against You can see it pulls back onto this SMA pulls back on to the SMA pulls back on to the SMA and then pull back So I'm looking For a position to buy because the market is trending up. Does that make sense? So that's why I bought in and you can see we're up here as well So the market pulled back. I'm looking for a reason to buy rights on this SMA. The markets trending up I've bought in we've pushed up. It's above this EMA And then I'll just wait for that to kind of them be extended, but I hope that makes sense, right? So just trade with the market and look for a reason to buy with the market Obviously don't buy at the peaks if you can see that it's overextended Then maybe just wait and wait for it to sell off and then look for a reason to buy so I hope I hope that makes sense Likewise if it's trending down, I just I don't like to do it with stocks just because you know It's everyone's working on a company to make it grow but Commodities Forex that sort of thing if it's trending down then look for the pattern and why you would you would sell that position? And then number three is Just trading position sizes are too big. So if I can show you here Can I show you? How much of my account I'm using I guess if I go on Hold on So I will never use and I've made a whole video about this But I'll never use one two percent of my account in one position It's kind of tough to see because this is all broke. Oh wait. Here we go So right if you have a look at the position sizes, you can see that are all like naught point nine percent It's less than one percent What about this? Yeah, you know less than one one or two percent I just won't open a single position more than two percent because what that lets me do is First of all, it doesn't blow my account, right? so, you know That's it. That's always a positive. So it gives me an opportunity to make mistakes, but still grow my account and also it Let's me kind of be less emotional more objective and Actually make sense of what's going on. So I can actually take a step back Look at the chart. Look at the patterns. Does this make sense to me to continue to hold or sell and it kind of goes hand-in-hand with making a plan for the trade And yeah, so it just lets you be a bit more objective if the money that you're going to lose or make doesn't Blow your mind if that makes sense and that also Goes hand-in-hand use that phrase twice With leverage and kind of using lower leverage. I'm still working that out with forex, but you can see with stocks it's all kind of times one maybe a few times two, but With forex, I'm still trying to work out kind of what leverage is uncomfortable with But yeah, so that's it. So that's my top three mistakes So number one, make sure you plan in your trades. Number two, don't trade against the trend of the stock or commodity or whatever it is Forex Try and trade with the trend but for reasons to buy and number three is Making sure that your trade sizes or the size of your trade It's something that you're comfortable with and if it all went then you'd be fine Which obviously isn't the goal, but it's just kind of helps you use less emotion and more logic So if that was helpful Then you know make sure you give the video a thumbs up if you want more videos like this make sure you subscribe If you have any mistakes that you've made that I haven't mentioned that you think are quite relevant Let me know in the comments wherever it be a Torah YouTube. I'll always get back to you I'm also quite interested to know What mistakes people or what what people have learned kind of from trading because everyone can learn from it, right? If you want to have a conversation with me You can always message me on at mark for an official on Instagram as well links to everything in the description Thanks watching guys, and I'll catch you another time