Mastering 10 Technical Indicators for Better Trading Decisions

10 Common Mistakes to Avoid as a Beginner Trader

1 September 2023 Written by Shiva

Moving Averages

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Relative Strength Index (RSI)

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MACD (Moving Average Convergence Divergence)

[{"selector":"#anim-755f9b50-e5c7-4302-8b0b-dcd5c2584b30 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-4.465525680102247%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-9720658a-5422-40b9-bc48-318d504b450f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fc99d125-4c7b-416f-949e-e856ea618266","keyframes":{"transform":["translate3d(0px, 309.28698%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a11d207f-5a5b-446d-bbf1-0528f44b1b61","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ed9f112f-3a88-4646-971a-925a04231d33","keyframes":{"transform":["translate3d(0px, 407.23505%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Combines moving averages to identify changes in momentum, making it great for trend confirmation. Image credits- Unsplash

Bollinger Bands

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Stochastic Oscillator

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Fibonacci Retracement

[{"selector":"#anim-5b87426a-f631-4646-aefd-9b297d65489c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-14.843749786673241%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-54a84090-67df-4fa6-b026-843c2fc4e17e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13700708-a019-4b81-b4bb-746bbcf2dfaf","keyframes":{"transform":["translate3d(0px, 309.28698%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-693fce24-a514-48c5-8569-d5762099121d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cbf2882a-1a9d-4106-883a-1a1989f0f48b","keyframes":{"transform":["translate3d(0px, 1011.11035%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] A tool to predict potential support and resistance levels based on the Fibonacci sequence. Image credits- Unsplash

Ichimoku Cloud

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Average True Range (ATR)

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Volume Profile

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Parabolic SAR

[{"selector":"#anim-0139f2b2-ee33-4cb8-8103-63332f2476c5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.225066375436132%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] [{"selector":"#anim-e096c312-8ad5-48ac-b062-4b129989939a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1582eaf7-197e-410f-a657-60fb53415e30","keyframes":{"transform":["translate3d(0px, 450.48278%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d6415da-306e-43fb-ba68-b17a83b7a798","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae827e15-ef5c-4250-a8bc-65b5fcae2f78","keyframes":{"transform":["translate3d(0px, 1011.11035%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Offers potential entry and exit signals by trailing price movements. Image credits- Unsplash

10 Common Mistakes to Avoid as a Beginner Trader

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