Quote from: Findingnemo on August 08, 2018, 06:53:54 AM

Quote from: Barbut on August 07, 2018, 04:26:14 PM

Quote from: Findingnemo on August 07, 2018, 03:56:38 PM

Quote from: LadyNymeria on August 07, 2018, 01:22:34 PM

Quote from: Findingnemo on August 07, 2018, 12:52:03 PM

Quote from: oriontab on August 03, 2018, 06:49:24 PM

Here are some interesting facts about trading I stumbled across from CryptoCred which I think may be helpful
Common error to avoid when you day trade, I modified some to reflect my own opinion.

1. Revenge trading, trying to get back a trade that has been lost or chasing a trade.

2. Never using a Stop

3. Not having a plan (Risk/Entry/Exit/Stop)

4. Not sticking to your plan

5. Greed risking too much/not taking profit

6. Being too emotional about a trade.

Plug these equity drains & increase your odds of being profitable.
You could add to the list and make better trades

Yes almost all the points you mentioned were common mistakes made by the trades even if they are experienced enough.But they also have to learn themselves to avoid these mistakes to make more profits,most important thing is not having a strategy or plan will leads to other errors.

I've violated most of those rules being a noob at trading. I just simply follow the buy low and sell high technique. I know I have to step up my trading and have a plan. What plan can you suggest for newbies in trading?

I am not an active trader but still I can suggest you to some basic strategy you need to follow,actually buy low and sell high strategy is enough for the newbies just wait for the time to come if you are a long term trader and never invest more money than you can afford to lose and don't try day trading until you have enough experience since which is very riskier.

I noticed that most of this topics are the same, op didn`t wrote about trading mistakes he wrote about life mistakes. What ever you do in your life you need to be careful or you will hit your head many times and depending how you hit it that much it will hurt.
You need to have strategy, you need to have plan, you need to make good preparation, better prepared you are less mistakes you can make, and even if you make some you need to be ready for them and to have a solution in case something goes wrong.

Those were most common errors made by lot of mistakes so we can consider it as life mistake or trading mistake as you want,strategy and backup plan is very important in trading because as you said anything may goes wrong even if we do it with most perfection.And also the experience will give those the strategies you needed once you got familiar in trading.

To me I think that one of the most difficult job is to get control over your emotions, I have seen a lot of people who are too good in trading, they have spent a lot of time in trading but they never succeeded in trading and the only reason is that they do not have control over their emotions.