what are some less known traps that i should watch out for?

Don’t be worried about all this. Just focus on your strategy and stick to your trading plan. Any distractions can cost you money. When you have analysed the market properly and know what you are doing, you will always be able to recognize red flags and can avoid them.
 
Anything that you hear for the first is probably a scam. There are no shortcuts and if someone tries to lure you with fake ideas of making money, you better avoid them.
 
DO NOT DOUBLE DOWN!! "BOY, THAT STOCK IS CHEAP"!! There is a reason that stock is cheap. Set a limit on how much you will put into one company...Stick to it. Two examples...GM in 2008...BABA now. Both had the government step into their lives. Pensions killed GM. BABA...Jack Ma went bye bye.
 
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