The following are the common mistakes traders do. Learn them and avoid making such mistakes.
- Not adhering to the given stop loss:
When a stock starts going against your position, the majority of the new traders and not disciplined traders tend to panic as they are going to incur a huge loss, so they decide to hold positions even after the given stop loss is reached.
Advice: Irrespective of market action, your profit and loss account, and any further analysis into the position, kindly exit at stop loss, unless you get advice to still HOLD and carry from Streetgains
2. Trend chasing and falling
Most new traders go mad about the price action. And they tend to go and buy stocks at their peaks without knowing the simple concept of Resistances and Supports. Whenever the common traders enter at a higher price, the big players tend to exit from it. Thereby the common traders lose their bets to the big and intelligent traders. This happened when traders miss the initial entry.
Advice: Never chase a stock at higher levels unless it is a defined and confirmed move. Or otherwise, you get an update to enter even at higher levels from Streetgains. We have a team of analysts with experience to understand the trend following.
3. Not having patience
Traders often break their patience out and make their first trade of a particular day as if they have no choice to trade anymore. Experienced traders know to wait for the right timing instead of forcing a trade, entering at the wrong price, and overtrading their account.
Advice: Be patient, markets will give opportunities. Don’t lose money on wrong trades, instead, wait for the right trade.
4. Having no trading plan
Traders often miss out on their trading plans whenever they make or lose big money. There are certain traders tend to trade the same stock multiple times. The mistake is that not sticking to the trading plan. The trading plan refers to the rules of trading set for the day. It is, in fact, the betting size/ quantity along with entry and exit.
Advice: Streetgains has set its trading rules to follow in each segment. We recommend every subscriber of Us to follow the same.
Traders often ignore their trades/ positions that are open. just because the stock is not moving, they tend to exit with either small profits or losses. Eventually, the trade is perfect and gives bigger gains after the position.
Advice: it is recommended to keep an eye on the positions taken, as and when the targets and stop losses may change based on market conditions and movement within the day.
Dear traders, we have upgraded our research platforms and processes to provide the best solutions to the retail traders. Some of our key changes :
1. Traders can directly place orders from the Mobile App, in fact, it’s the first of its kind to solve the issue of Symbol search and missing out entry.
2. We have introduced Advisory Credits instead of Monthly services. The advantage is that we do not charge any fee for stop loss trades. Also, traders can benefit from avoiding holidays during their subscription period.
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