https://www.wikifx.com/en/newsdetail/202207182524566380.html

Abstract：Most people can't resist the need to trade, so they make up reasons to do so or create bogus trading signals. You'll never make consistent money trading markets until you learn to be disciplined and stop overtrading.

　　So you want to be a successful trader？ You will need to avoid making several basic blunders that traders often make. You will make errors as you begin to trade, but the traders who succeed are the ones that learn from their mistakes and find out how to avoid repeating them again and again. In this session, I'll go through the most frequent errors traders make and provide some easy answers to them. It's now up to you as a trader to learn from and prevent these mistakes as you continue to study and trade the market.Overtrading and being involved in too many trades at once.
　　This mistake is made by 100% of beginners and 90% of the rest of the population. Furthermore, 90 percent of traders lose money in the long run because they trade too much. You're trading too much if you're involved in many deals at the same time. Never make more than one transaction at a time.
　　


　　Most people can't resist the need to trade, so they make up reasons to do so or create bogus trading signals. You'll never make consistent money trading markets until you learn to be disciplined and stop overtrading.
　　Changing your perspective about trading and “making money trading” may be the most straightforward way to stop overtrading. Rather than seeking any excuse to get into the market, you'll look for reasons why trading may not be a good idea instead of jumping right in (like most traders do).
　　Spending an excessive amount of time pondering trading and studying charts Overtrading is nothing more than obsessively pondering one's trading decisions. Some traders spend too much time looking at the charts, especially when there are no obvious price action signs to trade. As a result, they wind up entering a trade that they would not normally do if they were following their trading plan.
　　Is it any wonder that you're over-trading and losing money when you're always thinking about markets and your trading？
　　Scheduled time away from the charts is essential to any trading strategy. It's just “part of the process” if you stay with your trading strategy and take frequent breaks from the market. You are responsible if you depart from the approach and lose money as a consequence. This is why most traders lose money: they can't stick with a strategy for an extended length of time because they lack discipline and self-control (consistently).
　　Attempting to make trading decisions based on short-term charts
　　Day trading is a novice's mistake. People often hear the term “day trading” before understanding more. This puts them on the wrong path right away, leading to over-trading, gambling, and trading addiction.

　　Lower time period charts have less importance. Because longer time periods represent more data, they have greater “weight” than shorter ones. Daily chart bars are more important than 1-minute chart bars. Higher time spans need more patience, but they deliver more consistent signals with less stress. That seems like a good deal to me. Daily charts allow you to make a trade and keep it open for 24 hours or more. How to live a trading lifestyle and trade like a nomad.
　　Trading with Real Money Before Practicing on a Demo Account
　　This deadly mistake is made by new traders all the time. Trading with real money before trying out a demo account is a bad idea. Traders don't understand how the account works, so they make stupid mistakes like risking more than they planned or failing to set a stop loss appropriately, among other things. They are losing money.

　　You don't know whether your trading strategy is effective since you haven't tested it on a sample account (in actual market conditions). It seems odd that someone would risk their genuine, hard-earned money in the market with no demo practice, but many gamblers in Las Vegas do just that, so it's just another version of that.
　　Your task as a competent and profitable trader is to TEST your approach, as well as your trading skills, using a trusted demo trading platform before you begin trading live! A demo account is a great way to gain a feel for the market and your trading strategy without risking real money.
　　Getting Sucked Into News Distractions' “Black Hole”
　　If you aren't careful, you may fall into the “black hole” of news distractions and lose all of your money.
　　Traders “look for reasons” why their trade should work, and as we all know, anything can be found online, including arguments for and against trading. A lot of traders use the internet to “study” economic and trade news in an attempt to make predictions about what will happen next. That's how they make their decisions in the market. Dangerous! It's risky because the “big guys” have already moved on to what they expect to happen before the news breaks; this is a dangerous situation.
　　It's expected that the price would rise and then fall in response to the news, causing the market to whipsaw. This makes trading difficult and causes uneducated traders to lose money. This is why news trading is dangerous.
　　Trading price movement rather than news reduces misunderstanding. As previously said, price action on the chart reflects news and everything that affects a market. You can trade the news without studying or reading it after you learn to comprehend and trade price movement.
　　Ignorance of the Fact That Every Trade Has a Random Expectation
　　One important trading thinking error that most traders make is failing to see that every single transaction has about an equal chance of concluding in a loss or a gain. Having said that, this does not rule out the possibility of developing a plan that has a high probability of success. There is a complication with trading in that you can never be sure whether trades will be profitable or unsuccessful based on a small sample size since the results are entirely dependent on chance. If you forecast that your approach will win 60% of the time, you may anticipate that percentage to emerge throughout a large enough sample set