Things a trader should never do

Very Nice post. This will help all the new traders.

I think a trader should not be overconfident on his trading. He should learn more and more to make a good position in the market.

Yes taking decision out emotion is what most of the traders do. To get rid of it we need to have enough knowledge and skills. We also need to be discipline in our trading.

I would strongly recommend against revenge trading. It's a very poor idea and leads to a lot of losses.

A trader should never:

1. Over - trade
2. Take decisions out of emotional stress
3. trade out of his budget constraints
4. become over confident while trading

I think traders should never try to earn money quickly from this risky and volatile market. It can put them in great danger.

Trading solely based upon the news.

1. Hoping a negative trade will become favorable.
2. Not analyzing the market before trading.
3. Not improving your strategy from time to time.

Many novice traders make a big mistake and trade without preparation. Before you start trading with real money, analyze a number of charts. Observe price behavior by using technical indicators to determine support and resistance levels. Try to find different patterns on charts with different timeframes. Understanding technical analysis is useful not only for speculators, but also for investors, for whom it is equally important to open and close a deal at better prices.
If your trading style is "swing trading," you also need to understand the impact on the price of the news. For medium- and long-term investments, fundamental company analysis and industry analysis are included. In this case, understanding what is happening in the world markets in general will not hurt any trader. Except that for a scalper such information will be absolutely useless.
After you see the first positive results of your forecasts, you can think about opening a real account. There is one more option: to try your hand at a demo account first.

There will be losses in trading, but if you reject the market with these losses, you will never succeed. Every trader should learn from mistakes. If one learns from mistakes and moves forward, he will one day succeed in trading.

Those are the principles that many traders consider correct. It is important that when trading, we still keep those principles.

A trader should never trade without a stop loss. At the least one should have a wide-stop if unsure.

Also never use too much margin in one trade, the market can always turn against you fast.

The last option is actually quite crucial. It forms an essential part of learning about the skill to trade.

Trading out of desperation.

First, you have to learn trading then you have to open a real account and join the trading world. The second thing is to control emotions. The third is to maintain risk-reward and money management. The fourth thing is to trade according to the plan. In addition to all these issues, good analysis is needed. If you trade by combining everything, the chances of loss in trading are less

If you want to make a profit, you must first learn about trading. If you don't learn and trade, you can never make a profit. Risk rewards and money management must be maintained. You have to believe in your analysis. Never be traded emotionally.

Over leveraging