8 Day Trading Mistakes That Will Cost You Dearly 😮 Video
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8 Daytrading Mistakes that will Cost You Dearly. http://www.financial-spread-betting.com/trading/day-trading-course.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! If you're just starting out and you're a day trader, those trading mistakes will cost you your account so try to avoid them! Redoing.
1) Poor Risk/Reward ratio on your trades; you need to have a 2:1, 3:1 and more if you can Risk/Reward ratio. Don't get into the trap of trading more frequently.
2) Not using a stop loss - sounds simple but if you're new stop orders are imperative. The tendency is always to hold onto losers...
3) Adding to losers; this is not about scaling in. Averaging losers is generally a bad idea.
4) No risk management
5) Going in too big on each trade. You don't to put all your chips on any one trade.
6) Guessing how news will move price. I see this quite often. Predicting price news moves is too tricky for beginners.
7) Having too many correlated positions
8) Trading with no plan. You need a plan even if its the most basic plan in the world.
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