In the trading arena, it is inevitable that traders across the globe will commit mistakes that will result in small or massive trading losses with regard to their trading capital. This is especially applicable to beginner traders who possess little or minimal real life trading experiences in the areas of asset classes such as currencies and commodities. Today, we shall explore and look at what are some of the most common mistakes committed by traders in present day context.
1. Failure to Master the Art and Science of Psychology of Trading
In times when traders committed a lost trade, many tend to get emotional over it and often attempt to try and recuperate the losses incurred aggressively immediately after it. What this implies is that in a bid to recuperate the losses incurred from the losing trade, they would seek to assume higher leverage and take on higher risk with ......