Do you want to avoid the common trading mistakes people make when they start trading? By reading these top tips you can make it a reality.
1. Know when to cut your losses
Successful traders know that profits are achieved by owning up to your mistakes quickly in order to keep your losses in check. Dropping your failed trades will free you to focus your attention on looking for the next successful trade to make up for them.
2. Focus on money management and a trading plan
Uncontrolled emotions are the number one cause of trading losses. Don't let your emotions sway you, stick to your trading plan and remember to set (and stick to) your Stop Loss order