We present below a group of set principles for you to follow as committing these cardinal mistakes can be heavy on your financial health. Have a look at below trading mistakes which you must avoid.
- Failure to have a trading plan in place before a trade is executed.
- Inadequate trading assets or improper money management.
- Breaking stoploss rules can be heavy on your pocket.
- Not waiting for the right trade.
- Not establishing set rules before the trading day begins.
- Averaging down is like catching a falling knife riding on the hope factor.
- Expectations that are too high, too soon.
- Not knowing when to take profits.
- Walking away from the computer with open positions.
- Failure to use protective stops i.e. stop loss technique.
- Lack of patience and discipline.
- Trading against the trend — or trying to pick tops and bottoms.
- Over-trading and this is the reason we suggest you to trade less but trade accurately and here comes into play our best intraday tip which will get you out of the market before 11 AM.
- Failure to accept complete responsibility for your own actions.
