5 PIECES OF ADVICE THAT NEWBIES SHOULD NOT FOLLOW.
Many newcomers to trading often fail not because of a lack of knowledge, but because they follow the wrong advice. One of the most common traps is to trade as much as possible. In reality, overtrading only makes you tired, causes psychological turmoil, and leads to poorer decision-making.
The next mistake is to stubbornly hold onto losses in the hope that prices will turn around. The market does not care how much you are losing. Failing to cut losses at the right time can turn a small mistake into a big disaster. Protecting your capital is always more important than being right or wrong on a trade.
Many people also rely too much on the "teacher" signals from groups without understanding the essence. When you incur losses, you are the one responsible, not anyone else. Blind trading only causes you to lose control.
High leverage to get rich quickly sounds very appealing, but it is also the fastest way to blow your account. Ultimately, if you ignore psychological factors, no matter how good the method is, you will find it hard to survive long-term in this market.
