In this bear market lot of people were suffering about how to minimize their losses,for them trading is one good way to make daily profits and minimize your over all losses you made from the long bearish trend.SO these are the mistakes need to avoid when someone starts to day trading.
1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day tradeonly if you don't understand it.
More points about mistakes need to avoid are welcomed here for the newbie to learn.
These are good mistakes been pointed out to be avoided by a day trade trader and also for the newbies who wants to take part or adopt in day trading. Additional mistake one also do is by looking back at when sold off and the price went up. Don't have that emotions because it won't help. 1.Don't trade based on your emotions,just concentrate on FOMO and FUD.
2.Only risk the amount which can be affordable for you or just don't enter into that trade.
3.Don't use the technical analysis more,its just a tool to predict but still there is no reason for it to happen cent percent.
4.Don't day trade
More points about mistakes need to avoid are welcomed here for the newbie to learn.