Well, when I started trading, which was before I took the School of Pipsology Course, it was more like shooting in the dark, hoping I would hit a few good ol’ Pips
And i made the following mistakes:
- Thinking that Forex trading is get Rich Quick undertaking. I was like thinking that since ocean water is just water, you can just take a cup and take a gulp. Well you have to do some hard work to make it drinkable
- Not having a plan whatsoever (Trading plan/System).
- Closing potentially profitable trades too early, pocketing a few pips which will ultimately be wiped by 1 big loss
- Having no stop loss in the hope that the tides will turn in my favor. Nine $1 profits/trades were being wiped out by one $10 loss.
- Lack of proper knowledge. I started trading before I even knew what a pip was.
- Using the maximum available leverage.