Market is always volatile and dynamic. Some mistakes can really make a dent in your trading account. Here are some of the top mistakes traders make and I'm sure most of you and I have made before too.
1. Trading too big or over trading. Though it may provide huge rewards when you are right, large losses can quickly dwindle your trading account.
2. Revenge trading. Going back to action after a heartbreaking loss most likely to result into emotional trading and more loss.
3. Being emotional while trading. I admit, it is difficult when prices are hovering so near to your stop loss or profit target. Best to look away or close your position and relax.
4. Trading someone else's trading strategy which you have no idea how it works. Learn, break it down, understand and assimilate into your own trading style.
5. Straying from the trading plan. Just like moving your stop losses further away, ending in bigger losses. Stick with the plan unless your gut feeling tells you something is wrong.
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