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⏰ Time Stamps ⏰

1:47 1) Not Having a Plan
3:25 2) Hate Taking a Loss
5:10 3) Failing to Place Stop Losses
6:48 4) Trading Too Many Markets
9:11 5) Overtrading
10:41 6) Using Too Many Indicators
12:11 7) Bad Money Management
13:17 8) Too Much Leverage
14:27 9) Choosing Bad Exchange / Broker & Advice
17:43 10) Not Taking a Profit & Overconfidence
20:00 Conclusion

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🔖 Sources 🔖

► Loss Aversion: https://thedecisionlab.com/biases/los...
► Stop Loss Definition: https://www.investopedia.com/terms/s/...
► Stop Loss Tips: https://www.tradeciety.com/stop-loss-...
► Scalping Stop Loss: https://tradingsim.com/blog/scalp-tra...
► Which Market Should You Trade: https://www.investopedia.com/articles...
► Importance of Research Trading: https://samuraitradingacademy.com/imp...
► How Often to Trade: https://www.thebalance.com/how-often-...
► Money Management Matters: https://www.investopedia.com/articles...
► Importance of Research Trading: https://samuraitradingacademy.com/imp...
► Momentum Strategies: https://quantpedia.com/strategies/mom...

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1️⃣ No Trading Plan 1️⃣

It's important to have well defined goals around target returns and the timeframe in which you want to achieve them.

Once you have these formalised you need to develop a trading strategy.

2️⃣ Not Taking a Loss 2️⃣

This is a fool’s errand that often leads to more losses. Momentum is a pretty powerful force in the financial markets and if a trade breaks from your hypothesis - cut it quickly.

3️⃣ Failing to Place Stops 3️⃣

These are orders that will close a trade without any intervention and can help eliminate the risk of flawed psychological thinking. If a trade goes against you and you don't adjust your stops, they will be closed and will stop your losses.

4️⃣ Trading Too Many Markets 4️⃣

A single trader can only pay a certain amount of attention and focus to a market. The moment you start splitting that attention onto other markets you are hampering your performance in both.

5️⃣ Over Trading 5️⃣

This is a fallacy and more often than not, the opposite is true. You have those trading fees that are charged on every trade that you make. The more trades that you make, the more that these can rack up. Often, the most valuable time spent is when you are doing your research.

6️⃣ Too Many Indicators 6️⃣

This can cloud your judgement and over complicates your trading. Moreover, many of these indicators could contradict each other. So, try to err on the side of simplicity for your analysis.

7️⃣ Only Trade With What You Can Afford 7️⃣

You should never trade with more money than you can afford to lose. Its only practical. Apart from being highly irresponsible, its also illogical. When you invest with your free capital, you tend to be emotionally invested.

8️⃣ Trading With Too Much Leverage 8️⃣

There is no reason whatsoever for you to max out your leverage. Just because you can trade with 100 times your capital does not mean you should. You can be just as successful using leverage of even less than 20 times.

9️⃣ Choosing The Wrong Broker 9️⃣

It is essential that you do proper research before you start using a particular exchange.

Create a test account. Use demo funds. Work your way up to the first deposit and even then, start small.

🔟 Following "Experts" & Overconfidence 🔟

Don't follow this shills and supposed "gurus" that you see online. Most of these are not really good traders and are more marketers.

You should also never be scared to take a profit and avoid the hubris that comes from overconfidence.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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