Beware! Patterns That Deceive Traders: How to Avoid Costly Mistakes 🧐👀

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Avoiding costly mistakes. Patterns that fool you! Very often we think we see something but we don't really step back to appreciate what could be developing. There are so many patterns out there and you have to be careful with your biases as often you need more evidence. This is particularly true for heavy trend days.
- The example given is the double top formation, which often tricks traders into expecting a reversal when the market is actually continuing its trend.
- Traders tend to reinforce their biases by seeking evidence that supports their initial idea, rather than objectively analyzing the market.
- The video advises traders to test themselves by observing charts, noting their initial impressions, and then examining how the patterns actually resolve.
- Traders should consider factors such as time of day, previous market movements, and overall price action to gain more clarity and avoid being fooled by deceptive patterns.
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[@DavidSkerritt]

Great video Mark. Yup I've got a short bias and am always looking for the sells and those type of days frustrate me. As far as a DT goes, one thing I consider is the number of bars between the two tops. Is it just 3 or 4 or is it like 12-15? If its just 3 or 4 then the likelyhood of it being a DT, even with a good signal bar, is smaller than if its a greater number of bars with a good signal bar. That's what I've seen over the years is to consider the distance between the two tops.

[@dantrader7430]

Nugget of good experience there thank you

[@thomashenderson3901]

Crikey! I had a whole day of this issue last week. In hindsight it ONLY WENT UP, but as the candles were forming it looked like reversal after reversal so I was trying to sell against a trend which for some reason I could just not see. "Surely it can't keep on going up, it must be reversing soon, it's just got to a resistance level surely it must be reversing now..." and all the time it kept going up and stopping me out. I basically stubbornly gave the market my money. An 8am mindless buy would have made many £s.

[@WWE5Shorts]

please do you have any platform to invest a Bitcoin to earn a profits?? please urgent answer I saw someoneone on Facebook claiming is your website so I don't want to be engaged by scammers

[@ukspreadbetting]

No, we don't have any such platform! We don't even deal in Bitcoin! Please let us know the URL of the person on facebook who must be impersonating us.

[@ronhammond4112]

Referral to previous session's behaviour(s) was something that I had paid scant regard to, instead trying to predict the future... Great vid, thanks!

[@trollingOnline]

How many times have I looked at this exact same pattern and told myself "oh yeah, definitely we got a runner here"

[@ukspreadbetting]

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[@PandorasBox2]

yup otherday got caught on eur/usd parabolic uptrend =_= it broke everything like hot knife slicing the butter weird thing about it was there was no major news change or anything it just went up & up like shuttle lol

[@m.dickinson436]

Dude, this is trading wisdom. To all new traders: watch as much Mark videos as you can.

[@kiklocus4660]

confirmation biases are potholes.

[@aimmenromane4791]

Great stuff thanks

[@marcobiagioni]

👏👏👏👏👏

[@dantrader7430]

Hello Mark, Great video I have been watching your and UK Spreadbetting videos for years and this is a very good one. Keep up the great work and Thank You