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Home The 10 most common basic mistakes made by newcomers to trading

The 10 most common basic mistakes made by newcomers to trading

1, when the forexrebateclub://">forex rebate club just opened immediately rushed into trading in the first few minutes of the market, the market often suddenly change or burst up experienced traders sometimes rely on their knowledge to try to predict the trend of the market changes but for newcomers or do cashback forex try to be good 2, take profits when not properly rushed to cashbackforexbroker the position well, you opened a long position two days later You are happy to close your position cashbackforexexness check how much money you have made, but you find out later that the strong upward trend has just begun, so if you are not so hasty, you can make 10 times more money only on the very occasion to use take profit orders, usually resistance levels are very obvious when it is best to leave the market or use a stop-loss or trailing stop orders 3, no stop-loss at the time of loss This is an example of the opposite: you opened a long position, but the price is falling you stubbornly believe that it will go back up again, I just opened a position too early, and additional investment but the price continues to fall, your losses are doubled Remember: you can only add investment when you are taking profits  4, from the best position to close the position if you have some long positions and the price starts to fall, you often instinctively dispose of the profitable positions before you close the losing positions (or wait until it triggers a stop loss) This is a wrong strategy: if the whole market starts to fall, these positions that have lost money may be the part you lose the most, which means you should first close these positions good positions will not fall quickly, and conversely, they may rise again So dont rush to close out profitable positions 5, the psychology of flipping a typical mistake a novice would make: a losing position has just been closed out - in order to make up for the mistake he eagerly opened a new position which will cause a new loss results, so dont enter the market immediately after a loss, take a break 6, the most superior position handle your positions wisely: dont just special Care actually a few for example, those you bought at the lowest price - every trader is usually proud of this and you may also be self-absorbed, but please be careful not to let such a beautiful operation end up unprofitable, or even loss 7, trade with the rule of always buy you open a position at the beginning of the market, and then the market soars this time you say to yourself: ah, I caught the bull, so Set aside this position foreverBut something doesnt just happen once in a while: you either have to think long and hard about whether to change your investment, or you can only follow the standard rules in the short term, and the rules will get you in and out of the market, even if its a strong moveDont marry your position 8, close a profitable position on the first dayAnd vice versa, if your trade is not just one day, dont Unconditionally close profitable positions on the first day even if the price is already very high, be patient: tomorrow will be higher 9, close a position when a warning is issued to build an opposite position Many systems trade continuously into the market These systems are usually held positions This means that in order to build a short position to close a long position Someone can take advantage of this method, but must close the position earlier: the price to close the position You should not trade if you are not sure of your previous estimate. Say to yourself I have the paranoia bug, youd better close all your positions and re-analyze the trend or go for a walk.

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