Common mistakes

Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.

Deviation from trading strategy and violation of trading discipline.

The main cause of emotional trading loss. Success is never achieved by trading from emotions.

Every trader needs to maintain discipline. Trading is not possible without discipline and plan.

UweMoench posted:
Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.

True. Fear of losing money also mislead trader. So, be aware of that.

There are so many of them.. Frankly i myself committed most of these mistakes during my newbie days.

1. Thinking that you have learnt everything: Most of the new traders start with their basic trading knowledge and towards the end they feel 'I am a pro now, i know everything.'

2. lack of regular practice: Even if you are doing good in your trades it doesn't mean you will be in profit whenever you trade. regular practice is the key to gain experience. Without experience one clearly doesn't know how uncertain and volatile market can be.

3. Greediness of course: The day you start trading to hound the profits and nothing else, you will start losing your capital. Greed would make you place larger trade size which can certainly flip your account.

4. Taking too much risk: Yes, taking risk is required when it comes to trading, but taking risk beyond your trading capacity is unethical.

There are many more common mistakes, but apparently these effect your trading the most.

There are so many mistakes us traders make but the most important one is not working on your trading psychology. I believe if your mindset is strong you can conquer all other obstacles.

Trading is not everyone’s cup of tea. You have to put a lot of effort to make the most of the market.

my most common mistake is trade again and again after having a loss, i lost so many equity by this habit.

knowledge and experience needed i agree with you , but it can be valueless if you dont have regular practice  , so besides acquiring good knowledge its more appropriate to emphasis on practice session. 

It seems to me that a common mistake is not to draw conclusions from your failures, and not yet contact the managers of the broker with whom you are trading.

mistake is a very common thing that we cant avoid in spite of everything , the main thing is to come back from mistake very soon, otherwise it could be dangerous.

Managing risk is the most important yet most ignored aspect in trading. I mean all unsuccessful traders do not have any risk management policy. I do not risk more than 1% of my capital in a single trade. If I open more than one trade my maximum risk percentage is 2%.

There are many common mistakes traders make like not using stop loss, indulging in emotions or not having a sound plan and many more.

The idea of trying to get your money back often comes up with traders after a series of losing trades. This is an emotional decision by a frustrated market participant looking to get their money back.

My most common mistakes are starting trading with very little preparation and Being emotional for my money.

Fomo is definitely an easy one to fall into for those with little knowledge and experience. Need to spend the time honing your abilities and plan.

UweMoench posted:
Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.

Completely agree with this

Yes these are some very common mistakes made by new traders and they should definitely stay away from overtrading.