There are several things to avoid in trading, however I only choose a few that I think is very important in trading. There is a common misconception that you can learn from a demo account, however, the emotions are different in trading live and demo including the re-quotes that you experience in live trading.
Another misconception is that leverage does not cause you to lose your account; this has even spread as high as government regulatory bodies in the US where there is now a cap on leverage. Leverage is not bad per se; however, without using a proper risk management is very harmful in your trading. As long as you commit to your risk management the amount of leverage will never cause you to lose more than you should.
Thanks dollareuro, and thank you tipsfx for sharing this. I agree, risk is still a function of time, scalping strategy is good at 30M or 15M timeframe.
Impatience should be avoided in trading this is the main cause of loss for most of the traders. Then our emotions are also considerable that plays an important role to make right or wrong decision of trading. A trader should first understand market then try to trade .
One of the common mistakes is not following trading plan which can be dangerous for. your trade. And also some traders overtrade either by trading too often or trading too many positions at once. And so it is important that every trader need to be discipline to be able to succeed .
I am ever expeienced its that my trading often not good patient and i think its common mistakes for every trader that always happen again and again . Impatience make the trader not analyze as maturity and ignore the system that used while they just do trade as husty . I think its bad for the result to do like that
Yes less patience is a mistake specially for new traders. They do not wait for proper time for trading .Because they do not know how to analyze market well. Second mistakes is high expectations for making high profits . In this try they make much losses.