NOT PREPARED
Sometimes most of us are going into the world of trading without any preparations just the only thing we should know every day is having a profit which is not good sometimes if you would like to make trade also it is better to prepare your self getting too much excited to earn more profit pull us towards to make more mistakes like when the market is going into upward trend more likely we want to get buy and we set aside how to read the graph properly and what are the next movement of the chart upward or downward trend.
Every trader should be prepared when they do it in an actual transaction so that they will not be stressed and panicked about the certain situation. Most of the traders are losing their money because of the wrong strategy that they are using, no one is exempted when it comes to risk, people are all vulnerable about risks.
Risk management should be practice and apply so that whenever you trade, you can minimize your losses and you know how to cope up based on the situation. Being flexible and learning to adjust is essential to become an effective trader as you grow and understand things in trading.
OVER TRADING
This is commonly happening to us because sometimes we are getting too much greedy don't marry your trades. Most of us already make a huge market profit into the world of trading and we have different sets of goal in terms of profit. Some people want to have 50%, 70% or over 100% profit, remember the market is volatile if you already gained profit and you are not sure what are the next movement of the chart get your profit. For example, you make an entry into a 9800-9900 dollars of the market price of the bitcoin and as getting too much expectation of the market price of the coin the market price is starting to fall that you can see on the figure(2). Also, don't get to be Fear of Missing Out (FOMO) on your trades sometimes we win and lose our trades but the most important is to win a profit.
Over trading is really too much and can increase your risk of losing than earning profits. In trading, there should be a limitation about the money that you are going to use and limit yourself. Patience and self-discipline is required for you to handle your emotion to know when to stop trading.