I know there are countless threads and posts about mistakes, but given that plenty of newbies get attracted to trading around December due to heavy promotions I thought I put my 5 mistakes to avoid as a forex trader here (this is not a complete list and there are many more mistakes to avoid, but personally I think it is a good start):
1. Thinking that trading in a demo account will make a trader out of you.
2. Trading in the wrong account type.
3. Miss-use of stop loss orders.
4. Thinking leverage caused you to blow your account.
5. Ignoring proper risk management
Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.
1. Thinking that trading in a demo account will make a trader out of you.
2. Trading in the wrong account type.
3. Miss-use of stop loss orders.
4. Thinking leverage caused you to blow your account.
5. Ignoring proper risk management
Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.
