Deadly Mistakes That Trader Often Make
Mistakes are unavoidable when entering the financial market. Although mistakes will cause a lot of financial losses as well as spirit, but fortunately it also left a lot of invaluable lessons for trader. However, if you make repeated mistakes, it is no longer a blessing, but a sign of failure. The following is a list of mistakes that trader often encounter.
1. No backtest, demo trading strategy before the “real war”
Even if not a newbie, the demo will always be your most important tool. Demo is not only used to learn basic candlestick knowledge, but also a place for you to experiment with new methods.
The common mistake here is that many trader skip demo to practice. They even skip backstage and jump straight to the market with real money risks.
This action does not carry guns to the battlefield without training. What is the chance of survival?
2. Doesn’ care about SL-ing
This is often inexperienced traders. Simply believe that, just the analysis is that prices will run in the direction of prediction. SL is only a barrier.
Trading is a game of probability. Any trade has the potential to win and lose. SL is to protect you from the probability of losing. SL is an ally, not an enemy. Love SL.
3. Trading in a bad mood
Most trading results are determined by emotion rather than strategy. You can not trade with a mood full of anxiety, frustration. This only negatively affects the trading process.
Life is pressure, not every day is sunny. If you are stressed about a problem on the company, or family problems. It’s best to stay away from the candlestick chart. Do not try to trade in those dark days, if you do not want your account to go away soon.
4. No capital management
Capital management 1 of the fixed factors can not be separated from trading. Trade does not manage the capital is not buying a lottery tickets. Even gambling also manages capital.
Imagine this, you put 20% risk on the capital, only 5–10 trade loss is the policy of breathing. Do not think 5–10 trade is unlikely. In fact, losing strings happens often you think.
5. Unplanned Trade
There is a saying like this: “If you fail to plan, you are planning to fail.” To me, this is absolutely correct. Missing the trading plan, no matter what you go to the forest without a map.
Planning is what keeps you going in the right direction on the trading route which is too much trouble and traps. A good plan is not likely to bring you success, but it will not let you fail.
Happy trading
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