What are the mistakes that new traders do while trading?

[nits3392test]

I am a new trader and want to avoid the mistakes done by new traders...guidance is appreciated...

 

[Chapman]

The mistake of many traders is that they think that trading is easy.

 

[Broaddweller]

Many beginners think that they already know everything, and begins to act randomly.

 

[DevDuDe]

Doesn't matter if new or old. Losers make and keep making the same mistakes like
Not using a strict stop loss(i should give this trade a lil more room or SL is awful it always gets hit so I shouldn't use it at all)
Not defining the profit targets (always hoping for a bit more)
Not having a trading system or methodology (keep asking anyone who shows or even suggests that they are profitable about their strategy , secret , setup)
Not accepting the fact that there is no holy grail (there is none)
Keep changing the rules they made themselves
Thinking that trading is quick rich scheme(it's exactly the opposite)
Jumping markets to markets
Never accepting the blame for losing(it's manipulated , rigged . Big boys are hunting stop loss,insiders already knew the news)
Don't understand but pretend they do position sizing and risk management.
AMONG OTHER THINGS...

 

[prabh21]

The mistake of many traders is that they think that trading is easy.

Totally. New traders think making money from these markets is getting rich quick but that is a huge misconception. Profitability comes with patience, time and practice.

 

[Dilip Acharya]

One mistake which traders should definitely avoid is emotional trading.

 

[stoch]

Very often, new traders are afraid of risk and generally afraid of losing money. In my opinion, it is very important to be brave and understand when to invest on time in order to work in this industry.

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.

 

[PuffQueyFantastic]

The main mistake of beginner traders is greed. Most beginners come for easy money, thinking that they can earn thousands of dollars without doing anything. You need to understand that trading is a complex structure, which should be studied for years. That's why beginners need to carefully manage their capital and not to be influenced by their desires.

 

[Zologul]

First of all, I advise you to start trading with a demo account and then switch to a real account with small investments. I also strongly recommend reading useful information about trading or communicating with experienced traders on forums. And of course do not be self-confident and greedy, find a convenient trading strategy and develop yourself.

 

[Singh_veer]

The main mistake of beginner traders is greed. Most beginners come for easy money, thinking that they can earn thousands of dollars without doing anything. You need to understand that trading is a complex structure, which should be studied for years. That's why beginners need to carefully manage their capital and not to be influenced by their desires.

I agree with you. Many people have misconceptions regarding the same. But trading/investing requires a trader to be calm and patient and grab opportunities as and when they arise. any kind of greed is surely a negative sign for a trader and will definitely lead to his downfall. So we should really try to stay away from it.