Mistake 1: Relying on Fake Signal Providers
Beginners often skip learning essential trading skills (e.g., technical, fundamental, and risk analysis).
Many turn to "signal providers," who offer initial free advice and later charge for signals.
Most signal providers lack expertise, often failing in their own trading and starting this as a side business.
They provide signals based on over-leveraged, high-risk strategies without proper risk analysis.
2. Mistake 2: Neglecting Risk Analysis
Practicing on demo accounts leads to careless trading habits, as no real money is at stake.
Ignoring risk analysis during live trading increases the likelihood of losses.
Trusting strangers who lack accountability or personal stakes in your trades can result in significant losses.
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Key Lessons:
Avoid fake signal providers and scams.
Educate yourself on trading fundamentals, technicals, and risk management.
Practice disciplined trading with real money to build proper habits.
Focus on becoming self-reliant rather than relying on unverified sources.
