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Top mistakes traders make in their early days
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[QUOTE="King bell, post: 251278, member: 75687"] When you first start trading, there are a lot of things to learn and it can be easy to make mistakes. Here are some of the top mistakes traders make in their early days: 1. Not having a trading plan: Without a trading plan, it is very easy to lose sight of your goals and take trades that are not in line with your overall strategy. A trading plan helps to keep you disciplined and focused on your goal. 2. Not managing risk: Risk management is one of the most important aspects of trading. Many new traders don't take it seriously enough and end up risking too much on each trade. This can lead to big losses if the trade doesn't go your way. 3. Over-trading: It is very easy to get caught up in the excitement of trading and start placing too many trades. This can lead to big losses if you are not careful. It is important to stick to your trading plan and only place trades that have a high probability of success. 4. Not taking enough profit: Many new traders are too quick to take their profits and get out of a trade. This can lead to leaving a lot of money on the table. It is important to let your trades run until you reach your profit target. 5. Not using stop losses: Stop losses are a tool that can help you limit your losses. Many traders don't use them or don't use them properly. This can lead to big losses if a trade goes against you. 6. Not managing your emotions: Emotions can have a big impact on your trading. Fear and greed are two emotions that can lead to bad trading decisions. [/QUOTE]
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Top mistakes traders make in their early days
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