Overtrading – Trading often with tight stops and tiny profit targets will only make the broker rich. The desire to “just” make a few hundred dollars a day by locking in tiny profits whenever possible is a losing strategy. So focus on quality trades rather than quantity
Stop Losses – This one is major point which most of traders ignore , Always put stoploss in your trade cause it could come back after hitting yout stoploss 70% but let me assure you that 30% would cost more than 70% for sure so always put stoploss
Tops and Bottoms – Looking for bargains works well at the supermarket but not trading in forex or commodity try to trade in the direction the price is going and you’re results will improve.
Being Too Smart – The most successful traders I know are not MBA or PHD. They keep it simple and don’t look beyond the obvious; their results are excellent.
Emotional Trading – When you don’t pre-plan you’re trades essentially it’s a thought and not an idea; thoughts are emotions and a very poor basis for doing trades. Do people generally say intelligent things when they are upset and emotional; I don’t think so.
Afraid of loss – If you are afraid of loss in Forex / Commodity / Stock market then its not for you , trading is very risky profiession and you should be ready to face losses anytime
Adventure Trading – Trading is not a sport nor you are Ronaldo or Sachin Tendulkar who can earn while playing games , Its a serious business , do not trade just to get adrenaline rush
Wrong Broker – A broker is like a business partner in online trading and if its not flexible or not giving you a good deal , its highly recommended you change it , He is not your relative which you need to tolerate despite bad deals and behaviour
Master – Trading gives you lots of options to trade from thousands of stocks to hundreds of forex pairs and so many commodities , make sure you understand everything about your trade , do not try to trade everything but trade that forex pair , commodity or stock in which you invested time and studied it , you wont get medal for so many stuffs so focus on some