Bad habits of beginner traders.

[kiyawo]

Absolutely agree! Overcoming these habits is crucial. What strategies or practices have helped you overcome bad habits?

 

[Komondar]

Absolutely agree! Overcoming these habits is crucial. What strategies or practices have helped you overcome bad habits?

I stick to a clear plan and track progress

 

[Komondar]

Fully endorse your words. Quality should always prevail over quantity and that is a fact. Another quiet spread habit of all beginners - try to outplay the market. When they have a loss, they try to outplay it opening another orders and more and more and more... Until they run out of money on the account, lol. That is also a very bad habit, there's no sense trying to overplay something you don't have control on.

Absolutely agree! It's crucial to maintain control and avoid chasing losses.

 

[tgog123]

Not being patient to do demo trading until you trully understand

 

[bigdolly]

Absolutely agree! Overcoming these habits is crucial. What strategies or practices have helped you overcome bad habits?

Common bad habits among beginner traders include overtrading, which leads to impulsive decisions and increased risk exposure, and neglecting proper risk management practices like setting stop-loss orders or risking too much capital on single trades. Additionally, beginners may fall prey to emotional trading, allowing fear or greed to dictate their decisions rather than sticking to a disciplined trading plan.

 

[Ophilia]

Sometimes I revenge trade and thats the worse

 

[PhoenixJ]

More trades does not mean more money. being impatient in such a business will crush you.

 

[Komondar]

More trades does not mean more money. being impatient in such a business will crush you.

Absolutely! Quality over quantity is key in trading. Patience pays off in the long run.

 

[Komondar]

Sometimes I revenge trade and thats the worse

Agreed. The main thing here is to stop in time