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The Most Common Mistakes Made by Beginner Traders
Beginner traders often make mistakes due to lack of experience and difficulty controlling emotions during trading. Here are the most common mistakes:
1. Lack of a Trading Plan
Many beginners enter the market without a clear strategy. This can lead to impulsive decisions and losses. A plan should include goals, risk limits, and well-defined strategies.
2. Inadequate Risk Management
Risking too much capital on a single trade can lead to devastating losses. It is essential to limit the risk on each trade (usually 1-2% of total capital).
1. Lack of a Trading Plan
Many beginners enter the market without a clear strategy. This can lead to impulsive decisions and losses. A plan should include goals, risk limits, and well-defined strategies.
2. Inadequate Risk Management
Risking too much capital on a single trade can lead to devastating losses. It is essential to limit the risk on each trade (usually 1-2% of total capital).
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