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doesn't want to make a big profit? Intraday trading can make you rich very quickly. But
This sometimes results in mistakes and heavy losses. Many times a trader meets a disastrous
loss in a single day.\par \par
This video details on the most common trading mistakes of intraday traders. A peek into
these worst mistakes will help you avoid them.\par \par
Number 5. Rushing to book profits.\par \par
Many traders make quick and bad decisions when they see their position making a small
profit. A lot of traders rush to book profits before they decide the target and stop loss.
You should always decide your stop loss first before risking your money on a trade. All
trade are not the same. Many traders make mistake of holding their losing trades for
a long time and rushing to book profit on a good trade, because they are worried that
the trade might go in a loss. Before entering a trade, you should always keep the profit
target and stop loss in mind. Trading is probability game. Not all trade will be a winner. Stop
loss will save you from losing on a bad trade. But rushing to book a small profit will result
in a loss in the long run. Teach yourself to exit trade at the profit target. The trade
will hit your profit targets if you stay patient. \par
\par number 4. Averaging in a Losing Position.\par
For some experienced traders, averaging a losing position is fine. For some however,
especially in intraday, it could prove risky. Averaging down is an investing strategy, in
which a stock owner purchases additional shares of a previously initiated investment, after
the price has dropped further. The result of this second purchase is a decrease in the
average price, at which the investor purchased the stock. As history shows, when a trader
is holding a losing position the greatest errors have taken place. Only Start to average
when there's a benefit. Otherwise, you are just adding more money on a already lost battle.\par
\par Number 3 mistake is Blindly Following Rumors.\par
Another major mistake is to pursue the rumors spread by traders and the newspapers. Market
trends are recommended, but rumors should be avoided. Without your own research, do
not pursue intraday trading recommendations and media speculation. Going on the advice
of TV channels and newspapers, can lead to wrong decisions without reading charts. If
you are a beginner, you should stay away from the sub reddit known as the Wall Street Bets.
This sub reddit is fun to be a part of. But don't blindly follow advice told on here,
or anywhere else on the internet.\par \par
\par Number 2. Trading Too Frequently.\par
Many intraday traders eventually lose their hard earned cash due to over trading. Every
day trader should realize that over trading will impair good returns. You don't have to
take trade every single day to make a good living. Not all days are same. Market won't
make big price moves everyday. For a intraday trader to make money, good price movement
is necessary. This is not possible every single day. You have to understand that not trading
is also making money, because You just saved money that you would have lost in a bad market.
Even so, do not place all your assets in investing, even if you are sure about optimistic price
trends.\par \par
Number 1 mistake is Avoiding Homework and Research.\par
Many traders jump into purchasing or selling their stocks without doing any homework. Proper
research can save you from making stupid mistakes. You don't have enough knowledge of patterns,
particularly if you're a beginner. Therefore, it is important to learn trading patterns.
It is important before trading to get information about the company and the price movements.
\par \par
If you find a trading strategy that claims to work 70 percent of time, don't just blindly
risk your money on it. Learn to back test. Test it least 100 times on old market data,
before risking money in live market. Understand it's real win rate. Win rate can vary from
person to person. Even if the strategy works in the back test, don't risk a lot of money
on it at first. Start slow and slowly increase the amount as you get more confident with
that strategy.\par \par
You will make a decent profit by preventing these intraday errors. Beginners should be
careful to avoid these errors during day trading. You should rely on taking calculated chances
as a seasoned investor. You must be able to rebound in the trade in order to endure the
end results of your mistakes.\par \par
smash that like button if you liked it.\par For best trading videos that will help you
make more money, Subscribe to Trading Rush now. Thanks for watching. \par
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