5 🖐 Big Mistakes New Traders Make!

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5 Biggest Mistakes I See New Traders Making. 5 Big Mistakes You'll Make as a Trader even though you know you shouldn't! These are mistakes you make as a trader even though you shoudn't and everyone tells you all about them! OK.

These are trading mistakes you would do well to avoid. If not
1) Trading too much size.
2) Not focusing on 1 or 2 markets.
3) Not having a broad plan of attack.
4) Not stopping when you're losing money.
5) Feeling like a failure because you made losing trades.

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[ukspreadbetting]

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[bravoelliot]

The trick to sticking to rules is realising that the consequence of breaking any particular rule FAR OUTWEIGHS any potential benifit to breaking your rules and not sticking to your plan. Ultimately, you will learn one way or another through experience that the stuff people were telling you from day 1 was absolutely spot on. Take trade size for example, if instead of risking 1-2% you risk 10-20% you might make exponential gains on your account in a very short period, this is especially true if you're currently on a winning streak and feel in-sync with the markets. The BIG danger is any win you encounter now will simply reinforce the mental incentive to keep breaking rules, you'll begin to think to yourself "Why don't I just always risk 10-20%?, look at all the money I'm making!" and therein lies the biggest danger, as now when you lose you will take a very large chunk off your account, and it's at this point where you will start blowing your account, taking on even more size to compensate for such a large and detrimental loss, when you could of simply took a nice and easy -1-2% hit like everyone else who is profitable. The moral of the story is you will only break rules until the market finally bites you on the arse and you must embrace this and learn from your mistakes, otherwise you will just simply rinse and repeat and end up in the same gut wrenching losses over and over again.

[edexter]

Always sort of wondered if forex.should be treated as part of the cash portion of a portfolio. I am eyeballing a swing trade strategy since I work .

[aishwaryamuthuraman]

I love this channel! It’s a pick yourself up every time you are not doing well. Appreciate it a ton! Thank you so much.

[KINGOSHIN]

This video just came out a few minutes ago but I wish I’d seen it months ago. Very important video for new traders, thank you Mark

[zillionairesclub]

great lesson, trying to avoid them as well

[iacaldrod]

I've also done Mark's program 😎

[liontrading]

Paper trade the amount you plan to start with until you're consistently profitable or have doubled your paper trading account...then start with real money...

[BrotherTree]

A highly-probable catalyst to these mistakes is usually learnt from the lure of scammers out there, in my opinion. That, or that just accentuates these issues and makes them harder to re-work them.

[hugavet]

Don't bet the farm! Lock up your losses early and don't rob the bank to refund your account.