Hello everyone.
Based on your experience in trading, what are some common mistakes to avoid in trading?
1. Not knowing the mistakes.
2. Knowing the mistakes and trying to avoid them.
3. Knowing the mistakes and repeating them.
Every of the common or uncommon mistakes that’ll be shared hereafter falls into one or two of this categories.
Regards.
Wise words… nothing else that can be said.
I don’t get this one
I mean shouldn’t we avoid mistakes after all?
The most common mistake is to place an order without following your process to the letter. Then you have only yourself to blame whatever the outcome.
Hmm. Risking more than you can handle (and stressing over the loss because it’s more than what you expected) and overconfidence after a win.
1. Your first mistake was involuntary and you had no idea it’ll be that way - Learn from it.
2. Your second mistake was because you realized your mistake but never learn from it - Go back to 1.
3. Your third mistake is intentional and if you keep it that way it’s already becoming part of you ready for destruction - Go back to 2.
Apparently, you don’t avoid mistakes but realize them and do something never to repeat them.
Wise and accurate! If one want to avoid mistakes, the first step would be to acknowledge the mistake, then analyze why it happened and at last stop doing the same things that lead to making the same mistake.
Oh I get it now. You’re completely right.
greed my friend
it kill me when i am on the trades and i do not care about my tp and i just want to make more and more money
of course when i make money i want to make more
i have to control it or it will ruin all my money
imo to avoid common trading mistakes, traders should invest time in learning, use risk management strategies, stay disciplined, and manage emotions. They should also focus on quality trades, use technical analysis, and have a solid trading plan. cheers
What do you mean by quality trades?
mistake is very common , no way to deny but if you do same mistake again and again there is no way to come out from losses.
Using big leverage unwisely and over-trading in the expectation of earning big profit are two massive mistakes done by traders.
Agreed. Although I think you can learn from your mistakes, repeatedly doing the same mistake won’t teach you more.
Understandable. Thank you for sharing the info.
this habit not is a rare issue , every single day we trader doing same mistake again and again , some traders able to overcome from there and someone cant . this is a real story of this trading place.
high leverage not high risk always , if there is any risk , its all about non-sense trading plan with zero risk management , nothing without it.