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Some of the mistakes I have made as a trader in the past, learnt AND have changed my style.
Which ones are you making right now???
* Traded blindly without any homework or trading plans (poor discipline).
* Traded without Stop Loss or with too big Stop Losses (poor Risk Management).
* Traded way too many trades in a day resulting net losses (poor Risk and Money Management).
* Traded against the prevailing trend and then booked losses (poor Plan and Risk Management).
* Traded with the trend but booked small profit and too early.
* Traded with good plan (mm, rm, plan, discipline) but with no conviction in the plan resulting less profit to cover other big losses.
* Traded booking small profits and big losses.
* Traded at Market Price in less volume scrips resulting big losses.
* Traded on speculations, rumour or news and getting traped in Market Makers game resulting big losses.
* Traded within fear/greed barrier and without knowing risk/reward ratio.
* Traded on tips resulting huge losses.
* Traded getting psyched from CNBC or US/Europe speculations and resulted huge losses.
* Traded not even realizing after loosing lots of money & time in markets, Not Knowing which Time frame suits my personality.
* Constantly changing the time frame.
* Averaging and over leveraging to losing position and selling in panic.
* Converted intraday or swing trades into short term and long term without reasons.
* Committed some or all of above - again and again.
* Was unable to bare the loss and then traded more and more to recover the loss..ultimately completely or nearly wiped out the account.