What are the mistakes that new traders do while trading?

[Priya Nambiyar]

I don’t think mistakes are a bad thing when it comes to trading. If we see closely, the traders who make mistakes and learn from them, often have longer trading careers in comparison to those who feel disheartened after failing in a few trades.

 

[Alia Kapadia]

One of the most common mistakes that new traders make is buying stocks based on recommendations of others. I am not saying that everyone gives bad advice on social media. But blindly following the random suggestion of youtubers will not be a wise decision on the trader’s part. They need to do their own analysis and pick the right stocks as per their strategy.

 

[tradersmantra]

If trading is a building , then mistake is the ground floor. Trading always starts with mistakes .Just remember my words , Trading is the hardest way to make easiest money .

 

[Kamala Patel]

In trading mistakes are common and must be normalised. Traders should be able to accept and learn from their mistakes and refer to them while making trades in the future. Traders can also prefer maintaining trading journals.

 

[Kanti Ojha]

Picking the wrong stocks and not following a trading plan. These are the most common mistakes which new traders make. Some enter with a good strategy but fail to execute it well due to lack of knowledge. So a beginner should focus on learning and developing their skills before getting into stock trading for real.

 

[Lakshmi Kayal]

I would suggest you keep a trading journal and record everything on a daily basis. That will help you to identify all the mistakes that you make as a beginner. This is something that I did in the past and I think learning from your mistakes is essential for attaining progress as a trader.

 

[Red_Lesta]

I would suggest you keep a trading journal and record everything on a daily basis. That will help you to identify all the mistakes that you make as a beginner. This is something that I did in the past and I think learning from your mistakes is essential for attaining progress as a trader.

This is still something I need to do! What does every one use to make their journal? Pen n paper, spreadsheet?

 

[Sonali Vidi]

Journaling is one of the things that many traders often miss. It is one of the things to consider if one wants to become successful. Without journaling their trades, traders can never become successful. Along with journaling, traders must remember the power of emotions and learn how to control them.

 

[gytri garg1]

New traders often make a mistake in stock trading by letting their emotions influence their decisions. Trading needs to be done in a clear mind and with logical, analytical decisions. If you let your emotions affect you then you will probably end up losing, and the emotions of fear, anger, greed will deviate you from the right path.

 

[Aditi Chadda]

There are many mistakes often made by beginner traders in the market. If traders can keep them in their mind, you can be sure that your trading will be more fruitful.

1. Not learning enough
2. Chasing returns
3. Emotional attachments with a stock or company
4. Buying based on recommendations
5. Not aware of entry and exit points
6. Unrealistic goals and objectives