Common Mistakes By Traders
Common Mistakes by Traders
- 1) Lack of Patience and Over Trading
- 2) Strictly follow the Instructions and Process shared by us to get maximum benefit out of it
- 3) Be consistent in trading. If we have suggested the trade with x lots. Trade with the same lots to get expected results.
- 4) Risk Management & Position Sizing :
- Widening your StopLoss Once If the Price doesn’t favor you– Never do this
- Failure to use a Stop Loss – To be a successful trader, you must be a good Risk Manager. Risk management should come before everything else.
- Allocating Much Capital to a Single Trade – Avoid putting all your capital in one trade. Use Position sizing to safeguard your capital
- 5) Trading Psychology Mistakes to Avoid :
- The major cause of failure among traders is emotional trading – Fear and greed are the main enemies of traders. Without these, you can make sound trade decisions and record success.
- Once you’ve made a mistake, accept it. – There is no final destination in trading. Each trader keeps on learning.
- Always put in honest effort to make incremental improvements. – You will increase your chances of success in the market.