There are many mistakes that can be counted and are very common. But according to me the biggest mistake is that most of the traders at one point or the other fail to make rational decisions and that may be due to instability of emotions while trading.
New traders make a lot of mistakes, and the number one mistake traders make is not being prepared at all. The best way to gain an edge in trading is through preparation. Forex traders should have an analysis routine, common entry/exit techniques, and risk management fundamentals before they think about entering the market.
Not learning from their trades. There is a rule I learnt from a fellow traderâyou are failing if youâre neither making money nor learning something from your trades. As a trader, we should have a progressive attitude. The knowledge of forex will determine the profits we will make after the end of the day. To grow, traders should maintain a trading journal and keep note of every minute detail of previous trades, so they can plan their future trades better.
CALCULATE. THE. TARGET. PRICE.
this is the sixty four million dollar question.
always was and always will be.
nothing else matters more than this.