I know there are countless threads and posts about mistakes, but given that plenty of newbies get attracted to trading around December due to heavy promotions I thought I put my 5 mistakes to avoid as a forex trader here (this is not a complete list and there are many more mistakes to avoid, but personally I think it is a good start):
- Thinking that trading in a demo account will make a trader out of you.
- Trading in the wrong account type.
- Miss-use of stop loss orders.
- Thinking leverage caused you to blow your account.
- Ignoring proper risk management
Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.