What are the mistakes that new traders do while trading?

[FXO_trader]

I think the biggest mistake is that they belittle relevance of paper trading thinking that with the help of intuition they can beat market. However it's common misconception since even if you are good at pattern recognition you don't know how price will behave after them since you have no experience watching them in action. Basically your intuition can be false.

Trading on intuition is difficult, especially if you have no trading experience. A beginner often takes his desires as intuition in trading and makes mistakes.

 

[Mishra_86]

Trading on intuition is difficult, especially if you have no trading experience. A beginner often takes his desires as intuition in trading and makes mistakes.

Yes, you're right, beginners often mistake their desires for intuition in trading, leading to frequent errors.

 

[Antho]

New traders often make mistakes such as not having a clear trading plan, overleveraging, letting emotions drive decisions, neglecting risk management, and failing to keep a trading journal.

 

[FXO_trader]

Yes, you're right, beginners often mistake their desires for intuition in trading, leading to frequent errors.

The problem is that a beginner enters the market and if the price moves in the wrong direction, he cannot admit the mistake. And he waits until the last minute, watching the drawdown.

 

[Ravish Sinha]

The problem is that a beginner enters the market and if the price moves in the wrong direction, he cannot admit the mistake. And he waits until the last minute, watching the drawdown.

Haan...agree!!!

 

[Mishra_86]

The problem is that a beginner enters the market and if the price moves in the wrong direction, he cannot admit the mistake. And he waits until the last minute, watching the drawdown.

Absolutely, emotional attachment to trades often leads to reluctance to admit mistakes and accept losses.

 

[desiwarrenbuffet]

Most Of the new traders enters market to earn easy money without learning anything.

 

[ChadPowell]

usually new trader have an unrealistically high expectations from the market. this question reminds me of a video I watched a while ago on youtube, let me see if I can find it; it will be really useful to answer this question.

 

[FXO_trader]

Most Of the new traders enters market to earn easy money without learning anything.

Training is an important component of future successful trading; many beginners don't understand this at the beginning.

 

[Zerologic]

Maybe one of the mistakes beginner traders make is cutting profits early and letting losses pick up margin calls. When traders see several pips of profit floating, afraid of losing profits, they end up cutting profits immediately. But when facing a floating loss, he hopes the price will go to the early track, so he doesn't realize that he has gone against the trend and eventually faced a margin call account.