So you want to be a successful trader? Well, you should avoid the common mistakes that traders often make. You will definitely make mistakes as someone who wants to learn to trade, but the traders who actually start making money are the ones who learn from these mistakes and know how to prevent them from happening again. To take.

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In this lesson, we are going to discuss the most common mistakes that traders make and provide simple solutions to them. After that, it’s your job to learn from them and make sure you continue to analyze and trade in the markets.

Attending too many deals at the same time and trading too much

This is probably the most classic mistake that 100% of beginners make and about 90% of other traders make. It is also not surprising that about 90% of traders lose money in the long run when about 90% of them make a lot of trades. Another interesting point is that if you see that you have more than one trade at a time, you are probably trading a lot. In fact, there is no logical reason to do more than one trade at a time.

Most people simply do not learn to ignore the temptation to stay in the trade, so they prepare for all sorts of reasons to take a trading position or create trading signals that are not really there. The bitter truth is, unless you learn to control yourself and stop trading too much, you can never make money in the markets.

You spend a lot of time looking at charts

Similar to over-trading, it is usually a big mistake to just think about over-trading and looking at the chart. Traders often make the mistake of spending too much time crossing the chart, and even if there are no significant signs for trading, they are encouraged to take a trading position. As a result, what happens is that if they trade according to their trading plan, it will never happen.

Trying to trade in short timeframes

One of the biggest mistakes new traders make is trading daily in short timeframes. Many people hear about “daily trading” before they learn anything else about the market. This puts them in the wrong direction right from the start of the market and starts them in a trading cycle of short-term frames like the 5-minute or 1-minute chart, leading to over-trading and gambling. Becomes.

Short-term timelines are usually not as important as their higher timeline counterparts. The reason for this is simple, the longer the time frame, the more data is reflected from it, and therefore bears more weight over a short period of time. For example, a daily chart is much more important than a 1-minute chart. You need more patience to trade at higher intervals, but instead you can have more reliable trading signals and less stress, if you ask me, long-term timeframes work much better for you.

Trade with real money before testing yourself in a demo account

This mistake is like a death sentence for your capital, but traders still do it. The mistake that can easily get your claim denied is to fail. What happens is that traders are unfamiliar with the account and how it works, so they make stupid mistakes like risking too much, over-imagining or not stopping properly, and so on.

Your mission as someone who wants to be a skilled and profitable trader is to test your strategy as well as your ability in this field, on a reputable trial trading platform, before trading with money. Real enable! By doing this, you allow yourself to have your bugs with the experimental platform that you may have, and also allows you to get emotional for your market and trading method without having real money in the market.

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