Beginner Trading Mistakes That Cost Me Dearly. Avoid These 5 Amateur Mistakes.

Learn from my mistakes.

My trading journey began 5 years ago when a friend showed me an app on his phone that he used to trade Forex. He told me it was easy money.

I heard about trading and the stock market years ago in movies like “Limitless” and the notorious “The Wolf of Wall Street”, but never understood how they work.

Thus, I started trading in the demo account and made some profits, so I deposited money in a real account and started taking action. Everything went fine until I started losing money; lots of money.

“Why? Why can’t I make easy money as others do? Fuck trading! It is all a scheme.” That was my attitude towards trading until I realized my mistakes and started making profits.

These lessons cost me $5000 plus $1000 lost in Bitcoin, but I am sharing them with you for free, you lucky you. Ok, let’s see my mistakes.

I traded with the money I was not comfortable with losing. All my monthly savings were put into trading and it became like an addiction.

After losing money I put money again with the hope I can compensate for my losses. Sound like gambling to me, don’t you think?

I was constantly checking the trading app, very stressed and panic when seeing everything in red. I didn’t know what I was doing. This leads us to my second mistake.

My strategy was to make money, that’s it. I never implemented a backtested strategy for all 3 possible scenarios of a trend (up, down, sideways). If the candle was green buy; otherwise sell. Cool right?

Well, lucky for you I have a good article on a simple, yet a profitable backtested strategy that you can apply on any market.

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