However, just like any trading platform, a trader wont instantly become successful solely by using the platform, without having any knowledge about using it or skills in trading. So, aside from the curiosity of using the platform, you should also have some knowledge and skills to become successful.

In this article, well discuss some of the common mistakes beginners make when using TradingView.

1. Using Overload Indicators for Charts

As mentioned, one of the best things about TradingView is that it offers a wide range of technical indicators. However, using a lot of indicators at once can cause problems. Besides, when you use too many indicators, it may result in overloading your charts, which can give mixed signals. In the end, instead of achieving your goals, you may end up losing your capital.

Meanwhile, whether you're a beginner or a seasoned trader, its recommended that you use around two to three indicators based on your trading strategy and style. Although its okay to look for recommendations from other traders, you should still identify the right trading indicators for your trades.

2. Failing to Use Multiple Timeframes

One of the most common mistakes traders make when using TradingView is that they dont utilise multiple timeframes. Instead, they focus on one timeframe and give their all to it. On the other hand, if you opt for using multiple timeframes for your trades, you can try trading for short-term and long-term.

For instance, you can try your trading strategy in a short-term timeframe (like a few minutes to a few hours), while the long-term timeframe can take a day, a week, or even more.

3. Not Using Alerts Properly

Whether youre a full-time trader or a beginner, it may be hard to constantly monitor the market movement. So, enabling the alerts properly can help you have a better trading experience. The alert system in TradingView can be about the key price levels, trendline breaks, and indicator signals. Besides, if you dont utilise this advantage, youll be missing out on a lot.

One of the ways to manage risks is by setting alerts and notifications from TradingView. This allows you to monitor the changes in the market, especially if youre busy or waiting for a specific change thats about to happen due to the current news and other factors.

4. Following Random Scripts

With the social features that TradingView offers, you can easily access the community and check the best posts from the ideas. These posts are often based on the experience and analyses of traders who are also members of the TradingView community.

However, even if theyre basing their posts on these factors, you should also take some time to evaluate the custom scripts they provide. Before applying it to your actual trades, you can try it in your demo account first. Once it makes sense, thats when you can use it as a reference for your future trades.

5. Failing to Save Chart Layouts

Another feature of TradingView is its ability to save multiple chart layouts. Unfortunately, some traders tend to forget to save them. Unfortunately, when you forget to save your setup, youre wasting your time and energy formulating something you wont be able to use.

On the other hand, if you can save all the chart layouts that youve created, your plan may work out just fine. So, once youve edited and selected the drawing tools, indicators, and settings, dont forget to save your work. You can rename each chart layout for more organised data.

6. Not Keeping a Trading Journal

Did you know that keeping a trading journal can significantly help you improve your trading journey? Whether youre planning to trade in TradingView or on other platforms, keeping a trading journal is a must.

But first, what is a trading journal? A trading journal is where you keep your screenshots, notes, analyses, spreadsheets, and other trading ideas that can help you organise your trading strategies. Fortunately, you can use the built-in TradingView journal so that you wont have to open another app, website, or software to access your journal. However, if you opt to use a third-party application, TradingView also accepts them.

7. Neglecting News and Fundamentals

Another common mistake traders make is neglecting the fundamentals of trading and the current news. Although the use of technical analysis can help improve your trading experience, you shouldnt neglect the news and the fundamental data when trading. Instead, check the schedule of the announcements that can affect your position, incorporate technical and fundamental analysis in your strategy, and utilise the news feed and economic calendar in TradingView.

Final Thoughts

TradingView supports a lot of advantages that new and professional traders can use for their trades. However, you can still make mistakes even when using the best trading platforms at work. So, dont forget to consider the list in this article whenever youre trading.

Have you made mistakes in your trades before? Dont hesitate to share your stories by commenting below!

ABOUT THE AUTHOR

Aliana Baraquio has over 5 years of experience as a writer and market analyst. She specialises in developing beginner-friendly trading techniques and tutorials. Additionally, she suggests FP Markets as the top broker for trading CFDs and Forex.

In this article, well guide you through a DIY emergency roof repair to prevent further damage during the storm season.

1. Safety First

Before climbing the roof and getting your tools, you should first inspect the affected area. Of course, if its still storming, wait until the wind and heavy rain calm down before fixing.

Once the affected area has been identified, you can then climb the roof. However, ensure that youre wearing safety gear and non-slippery shoes, and use a stable ladder. If you dont have the safety gear, you can borrow it from your neighbour, but dont go if you have no experience climbing roofs without safety gear.

2. Identify the Problem Area

As mentioned, identifying the problem area is one of the first things you need to do when dealing with a damaged roof. You can look for signs of water leakage, damaged or missing shingles, debris, and sagging areas or holes.

If you can see the damage even when you're standing on the ground, it means that you need to fix a big problem, but when its unnoticeable, you need to look for signs to identify where exactly the damage is.

3. Use a Tarp to Cover the Area

If the damage is bigger than expected, look for a tarp or a temporary waterproof cover that doesnt get blown away easily. Ensure that the tarp is installed safely, and dont forget to contact an emergency roof repair expert as soon as possible.

If possible, always have a tarp in your storage because it comes in handy during rainy days and storm seasons. In addition, keep tarps in various sizes because you should extend the covered area at least a few feet more from the damage.

4. Seal Minor Leaks with Roofing Cement or Sealant

If youre dealing with minor leaks, you can use a sealant or roofing cement to fix them. However, before applying the sealant or cement, you should first clean the affected area, dry it (so avoid applying while its raining), and double the layer once the first one dries up.

Although its not recommended to DIY roof fixes, there are times when you should do it to avoid facing bigger problems. Besides, if youre going to be careful, you can easily do it in just a few minutes.

5. Replace or Reinforce Shingles

If your problem is that a few shingles are missing or loose, and you have a few extras at home, replacing or reinforcing them is a great idea. It should be done before the storm or rain, or once the weather calms down.

Meanwhile, if you dont have spare shingles, you can use sealant, roofing nails, or roofing tape instead. If you dont want your shingles to be the problem, ensure to schedule regular roof maintenance to avoid these kinds of emergencies.

6. Clear Out Debris

Debris, such as leaves, branches, and other things brought by the wind, can clog the gutters and damage your roof. So, once the weather clears up, remove them immediately. If possible, use a leaf blower or other tools that you can use to remove the debris instead of climbing up. Meanwhile, if its impossible to remove the debris without climbing, you can do so, but ensure to wear safety gear and watch out for your steps.

7. Check the Interior

In some cases, you may still encounter some challenges even if youve already fixed the roof. So, once youre done, dont forget to check the interior of the affected area. For instance, if you have an attic and youre dealing with leakage, your things might get damaged further if you dont deal with them right away. In addition, the longer you leave your things wet, the higher the chance of having mildew, mould, and water stains.

8. Document Everything (for Insurance and Expert References)

Whether its for insurance or to submit to an emergency roof repair expert, documenting each step is necessary. Take some pictures of the damaged area, the process youve done to fix it, and the after part.

For insurance, photos can significantly help in filing claims and getting the financial assistance you need. As for the expert, having photos of the whole issue can help them identify the right thing to do to fix the problem that can last long.

Final Thoughts

Although the ideal thing to do is to call an expert, there are times when you just have to do it yourself to avoid having further problems. By considering the tips listed in this article, you can have a safe and successful DIY emergency roof repair.