Do you use a watchlist, or trade whatever's moving?
A watchlist is a short list of instruments you know and follow daily. Without one, beginners tend to scan the whole market and trade whatever moved most recently — usually right before it reverses.
Share:
- how many pairs or markets are on your watchlist
- how you decided what belongs on it
- what you do when nothing on your list is doing anything
The discipline side overlaps with overtrading, and the pair choice side with majors, minors and exotics.
Background: Revenge trading and overtrading: how to spot them and stop
Trading to win back a loss, or trading out of boredom, are two of the fastest ways to damage an account. Learn the warning signs and the rules that interrupt them.
What is revenge trading?
Opening a trade to win back a recent loss rather than because your trading plan gives a signal, often with a bigger position than usual.
How do I stop overtrading?
Set a maximum number of trades and a daily loss limit in advance, require a written reason from your plan before each entry, and check in your journal whether the extra trades have helped or hurt your results.
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