What is the number one mistake traders make?

Here are some mistakes that traders can did in their trading.

  1. UNDERSTANDING DECISION MAKING VIA WINNING AND LOSING

  2. LOSSES TYPICALLY HURT FAR MORE THAN GAINS GIVE PLEASURE

  3. A HIGH WIN PERCENTAGE SHOULD NOT BE THE PRIMARY GOAL

  4. USE STOPS AND LIMITS – GOOD MONEY MANAGEMENT

  5. GAME PLAN: TYING IT ALL TOGETHER

Number one mistake is lack of proper knowledge.

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Is rushing in too quickly and not seeing the market for what it is. They think every trade is a going to be a winner and strife for that where that is impossible and losses and probabilities are a part of trading

Looking for the holy grail of strategies.
It dosen’t exist though some systems are better than others.
The holy grail of trading us mastering your mindset to accept losses and move on

Starting with trading soon!
Even though trading has a few fundamentals to cover, it is a big subject.

Your analysis is important. Technical and fundamental analysis take time to develop, which traders develop while trading. A new trader should practise and hone their skills on demo trading and should switch to live once they have a workable strategy and a sense of the market.

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Not realizing the markets are rigged. Meaning they need to trade with the banks.

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Agreed, don’t think only youtube traders are trading :grin:, big shuffles you saw at major levels are due to these big bookies.

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The biggest mistake one makes is taking trading to be the easiest and quickest way of making money which is not at all true. Trading requires you to be patient and gain as much knowledge about market trends that is learnt over a period of time.

There are two mistakes most new traders make, I’m not sure which is the more important but both stem from a fear of loss -

  1. day-trading

  2. trading reversals

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Very true, everyone wants to run before they can walk. It is key to let the process unfold and enjoy the process of learning

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Not opening a damn book full of knowledge for forex

Agreed, it is the most important thing.

Nice. I think traders should also not neglect their emotions because they impact your trading decisions. Learn to control greed and fear.

Not realising learning to trade profitably is a long-term thing. There are no quick profits.

According to my trading experience, not using proper use of stop loss is the biggest mistake.

Nailed it. Thinking they can rock up to a $6tn+ a day business without any education or experience and make themselves overnight millionaires.