Traders Common Mistake

[Laoise#886]

Traders usually spend 90% of their time looking for signs to buy, but they never pay attention to when to get out.

 

[Ziara78wu]

Trading with emotions such as fear of losing can lead to mistake.

 

[Cholas]

most common mistake after having a losses they try to recover losses by trading over and over , this is a most worst mistake i think

So true, we call it revenge trade. Simple thing is you will loose more if you do so, speaking from experience, the best thing is to take a little break to reevaluate. There are some fine articles on this library I'll recommend for any trader especially newbies that can help in navigating the market

 

[Andre17]

The most common mistakes new traders make are overconfidence in their abilities and not having a solid risk management plan.

 

[Cholas]

The most common mistakes new traders make are overconfidence in their abilities and not having a solid risk management plan.

And more importantly not working on their emotions.

 

[Layla2022]

According to me, it is overconfidence and lack of knowledge.

 

[Fx_Jezz5]

According to me, it is overconfidence and lack of knowledge.

Yes, exactly. Traders tend to become overconfident and often indulge in over trading, which is harmful in the long run.

 

[alistera]

According to me, it is overconfidence and lack of knowledge.

It's a little more detailed, above 1% per month return on capital (which still needs experience) they cannot protect 80% of profits made and therefore expose their capital to market whipsaws (noise), although most never get to the profit stage in the first place.

 

[Ahmed Solaiman]

According to me, it is overconfidence and lack of knowledge.

the traders who have low trading knowledge only they have over confidence , otherwise no way to show it.

 

[Cholas]

Yes, exactly. Traders tend to become overconfident and often indulge in over trading, which is harmful in the long run.

This is something we all should watch out for, because if we become overly confident we can hardly control our emotions while trading.