What are the mistakes that new traders do while trading?

#72
The biggest mistake is trading without stop loss or take profit, it turns trading into gambling because you don't know when and where to quit, that's why too remain too much involved emotionally in trading.
Many traders, especially new traders tend to neglect risks and only focus on profits. This leads to heavy losses which sometimes blow up the whole account.
 
#73
Neglecting the risk involved in trading is the most common mistake made by new traders. They focus more on profits than on risks and do not prefer using risk management strategies.
 
#74
Some traders do not follow their trading plan or do not even bother to make one. This leads to confusion while trading and results in losses.
Those who does not pay attention on writing the rules almost blow up their entire balance within no time and this contributes to the failing stats in trading industry.
 
#75
New traders have a wrong mindset that complicated strategies work better than simple ones. They need to stick to their basics to make the most of the stock market situations. Buying low and selling high is not that difficult if done properly.
 
#76
Entering the market without a trading plan is surely the biggest mistake traders make. They take it too lightly and when it’s time to make a move, they get influenced by all that they see on the market.
 
#77
New traders often make the mistake of underestimating the market. They don’t realise the truth until they blow up their accounts. They overlook learning the basics and practising on a simulator before taking risks with their real money.
 
#78
Most beginners don’t pay attention to the market details. All they are concerned about is the profits and sometimes, this makes them forget that they have a trading plan to follow.
 
#79
Some traders overlook analysis and make decisions emotionally. It is essential for every trader to analyse the market properly and open trading positions in accordance with that. This won’t only help them in making profits but will also help them in reducing losses.
 

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