Avoiding Common Trading Mistakes for Success

95% of new traders fail — don’t become one of them! Avoid these 4 common mistakes and set yourself up for trading success. Find out what they are and how to overcome them below:

Lack of a trading plan.

It’s a vital roadmap for trading success.

  • Create clear rules for entry and exit.
  • Backtest your strategies.
  • Stick to the plan.

Your trading plan is what will keep you objective.

Ignoring risk management.

This is similar to sailing in a storm unprepared.

  • Limit how much you risk per trade.
  • Use stop losses.
  • Use the ATR indicator for dynamic risk control.

Risk management will help to keep you in the game.

Giving in to emotions.

Emotions are the silent “destroyers” of trading accounts

  • Identify your triggers.
  • Develop coping mechanisms.
  • Practice discipline.

Command your emotions, don’t let them command you!

Overtrading

This is a trap that will drain your account to zero, fast.

  • Set limits for how many trades you hold.
  • Focus on quality over quantity.
  • Avoid trading during market consolidation.

Good trading opportunities don’t come every day.

To learn more about How you can Start Trading for a living, sign up below for my Free Training on the “7-Steps to Financial Freedom through Trading”.

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