Ep 146: 12 Common MISTAKES Beginners Make in Stock Trading
★ SUMMARY ★
Making a mistake when you first start trading can be both disappointing and discouraging.
I’ll let you in on something that I’ve learned throughout my professional experience- no one knows exactly what to do when they start out in the stock market for the first time. However, there is a way that you can avoid these mistakes.
One of the best things you can do to elevate your trading success is to learn from the mistakes of those who have already gone through the trial and errors of all the beginning stages.
In this video, I will share with you a handful of common mistakes that beginning traders make so that you can learn how to avoid a wide range of mistakes ranging from inner game to outer game, underestimating the ease of the market, and creating bad trading habits.
#1 believing that the market is easy to make money
#2 having no plan of action for each trade
#3 having the wrong habits
#4 emotionally tied to a stock
#5 not taking profits into strength
#6 holding on to losers
#7 averaging down your position incorrectly
#8 using excessive leverage
#9 trying to save a position (compensating in new positions, trying to short it, etc)
#10 following people blindly
#11 looking at the short-term instead of the long-term
#12 not investing in yourself
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TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing.
Stock trading can be a brutal industry especially if you are new. Watch my free educational training videos to avoid making large mistakes and to just continue to get better.
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