Worst mistakes you've done while trading

What are your worst mistakes or craziest things you’ve done while trading?

Mine is holding a losing position too long hoping things will change and not cutting my losses early.

What’s yours?

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Many years ago when I though I knew everything I traded without a hard stop as trade well in my faor and all the planets aligned for me and went for a few days break, came back to a potions thousands in the red. Taught me a huge lesson , always protect the account no matter how good the trade looks, never traded unsafe again. Pain teaches you better than reward

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in my trading life most of the mistake i have done during news , so many worst experience i have experienced in that time and lost much equity.

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In my opinion, my biggest mistake is trading without experience and knowledge. At the very beginning I spent a lot of money because I did not fully know how to earn money.

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trading Forex with no knowledge i think the biggest mistake ever that beginners level always do. this mistake even i have passed when was a newcomer.

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using high leverage when money management not strong including real trading plan, its a very common mistake that beginners and professional traders most of time do.

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Mine was leaving trades open and going on vacation or completely forgetting about when I haven’t set any stops. :cold_sweat: My biggest losses were due to this and a combination of what OP has also mentioned. Basically, not setting stop losses is usually the reason. :sweat_smile:

That too. Also, adjusting my stop giving the trade one last chance to turn around.

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I’ve made many - a memorable one though was taking on accounts for others just as the 2007 crisis was beginning.

I’d had a stellar year thinking I was a BSD (read Liars Poker for the meaning).

Id piled my dear mum into silver - whilst it was stretched 40% above it’s 200 day moving average.

And then saw it correct from around $45 down to low $20s.

It’s a long story, one I will tell another time but the gist is that on mine, my mother’s and a close friend’s account I held the losses all the way down.

I spent a full year after in complete mental torment. But…I never ever pulled my stops again.

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Emotions especially greed has made me over trade a number of times. But now i have learnt to have a control on that.

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emotions and greed very common and i think there is no one who never done the same mistake particularly when a newcomer.

Given that experience do you feel it’s just better to trade price action instead of trading the news?

Did you proceed with trading live immediately?

Grew my account 20% in 1 month over 84 trades.

Wiped out the 20% in 2 trades by not using hard stops, even though i had remained disciplined up to that point.

84 trades of work wiped out.

Overtrading and taking higher risks some time. Due to this, I have lost some money in the past.