In today’s video, we dive into the Law of Small Numbers—a psychological trap that prevents many beginner traders from reaching their full potential. Our minds naturally seek patterns, often seeing what we want to see in the charts rather than what’s actually there. This can lead to false confidence in strategies that only work under specific conditions or don’t work at all.
We also take a look at Bitcoin’s current price action and plan our next trade based on market structure and key levels.
What Beginner Traders Should Do:
✅ Extensively backtest strategies over a large dataset
✅ Focus on objective market structure instead of emotions
✅ Maintain a trading journal to track real results
✅ Understand statistical probabilities in trading
What Beginner Traders Should NOT Do:
❌ Rely on a small number of trades to judge a strategy
❌ Chase patterns that aren’t statistically valid
❌ Ignore risk management and proper position sizing
❌ Let emotions dictate trading decisions
By recognizing these biases, you can develop a disciplined, data-driven approach to trading. Watch the full video to learn how to avoid these common pitfalls and see how we’re positioning for the next Bitcoin move! 🚀
We also take a look at Bitcoin’s current price action and plan our next trade based on market structure and key levels.
What Beginner Traders Should Do:
✅ Extensively backtest strategies over a large dataset
✅ Focus on objective market structure instead of emotions
✅ Maintain a trading journal to track real results
✅ Understand statistical probabilities in trading
What Beginner Traders Should NOT Do:
❌ Rely on a small number of trades to judge a strategy
❌ Chase patterns that aren’t statistically valid
❌ Ignore risk management and proper position sizing
❌ Let emotions dictate trading decisions
By recognizing these biases, you can develop a disciplined, data-driven approach to trading. Watch the full video to learn how to avoid these common pitfalls and see how we’re positioning for the next Bitcoin move! 🚀
🎯BOOK 121 TRAINING MASTERCLASS: tradejournal.co.uk/book-1-to-1-master-class/
🎯JOIN ONLINE BOOTCAMP:
WHEN? Last Sunday each month!
tradejournal.co.uk/bootcamp/
🎯Join Discord Community: discord.gg/SFmbjseS89
🎯JOIN ONLINE BOOTCAMP:
WHEN? Last Sunday each month!
tradejournal.co.uk/bootcamp/
🎯Join Discord Community: discord.gg/SFmbjseS89
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🎯BOOK 121 TRAINING MASTERCLASS: tradejournal.co.uk/book-1-to-1-master-class/
🎯JOIN ONLINE BOOTCAMP:
WHEN? Last Sunday each month!
tradejournal.co.uk/bootcamp/
🎯Join Discord Community: discord.gg/SFmbjseS89
🎯JOIN ONLINE BOOTCAMP:
WHEN? Last Sunday each month!
tradejournal.co.uk/bootcamp/
🎯Join Discord Community: discord.gg/SFmbjseS89
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.