two dead down under:
Two sailors are dead and several others deeply traumatised after a well-known West Australian yacht overturned in windy seas off Mandurah. Police are still trying to piece together what happened to Finistere, a three-time…
Full Article: Sailing Anarchy – two dead down under, admin
No one’s perfect – not even the most successful online trader. Once in a while, traders make mistakes. At least by learning from their mistakes, they get a better idea of what not to do and avoid certain strategies stock market trading business.
At least by having an idea of the five most common mistakes that an online trader usually makes, it will be easier to avoid these.
1. Not knowing when to stop
One of the traits that is practiced even in trading courses is patience. Full time day trading traders know exactly when to stop and when to invest, depending on where the direction of the market goes. A common mistake of failed traders is that they do not follow a specific stop-loss.
2. No money management tactics
Trading strategies for every trader should involve the targeted profit goal and the ways to get to this. The risk/reward ratio varies. It depends on the actions that the trader makes to get there. Just find a system and strategy that works for you and stick to this.
3. Wrong timing
One of the tips that every trader should remember from trading course is to not trade before, during or after a news event. Liquidity is volatile, especially when there are news events. You may get lucky at times but the market is more erratic and unpredictable when headlines are alarming.
4. Holding the positions overnight
A general rule of thumb that is taught in trading for beginners is that you have to close all the positions before the end of the day . In that way, then the market reopens next morning, you can start on a proper margin, as opposed to an ominous loss because you’re stuck in an investment made on the day before.
5. Wearing your heart on your sleeves.
When the trader is not of rational online trading mentality, then he easily jumps into an investment, forgetting the trading strategies that were already tested. This can result to big losses in the stock market.
Now that you’re aware of the five biggest mistakes a day trader can do, it is your responsibility to avoid getting into that situation.
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Day Trading Strategies | Online Trading School