The most common mistakes made by trader. Know them and do not make! Alexander Sivtsov.

Any person, even the greatest professional, is prone to make mistakes and traders are no exception. In trading, as in any other business, it is impossible to avoid mistakes. Therefore, I propose to consider the most common errors of the trader, both for beginners and experienced ones. And, do not allow them to make your business flourish. Knowing about mistakes in advance, you will never get a significant loss and will be able to successfully trade.

So, the most common mistakes of a trader:

1. Do not jump on the departing train. Very often there are situations when a novice trader, in pursuit of profit, concludes the deal already on the extinction of the movement in the hope of a strong potential for the continuation of the current trend. As a result, the price unfolds and the transaction brings a loss. Such situations happen due to an incorrect assessment of the influence of the fundamental factors that caused this movement of prices in the market.
2. Euphoria (play while you can). I think very often you heard from many traders about how they at times swung their deposit, but then they received significant losses and had to start all over again. Here is everything about human psychology. It is natural, when one transaction after another brings profit, and the trader thinks that he is already simply an unreal professional and whatever transaction he has concluded, it will bring profit. Self-confidence is punishable, so you always need to keep the mind sober and from time to time give yourself a break, then to look at the market with a fresh look without “rose-colored glasses.”
3. Ignoring the rules of money management. In the process of trading a trader can have not only euphoria, but also be desperate because of a number of lost trades. Often it becomes a pity when the deal closes clearly at stop order, then it unfolds and fully works out its potential. It is these situations that encourage traders to increase their risks in deals, and sometimes even do not use stop orders.
4. Trade without confirmation. The movement of the price of a currency instrument on the market is often determined by several factors. It happens that traders enter the trade in the process of trading, being guided by one signal ignoring other factors that influence the price change of the instrument, therefore, in addition to the main signal for entering the transaction, two additional ones are needed.
5. Use only proven tactics. In trading in the foreign exchange market, there are many tactics using various sets of tools for technical and computer analysis. In the skillful hands each of them will make a profit. The main nuance of using any trading tactics is its testing. You can not practice what you have not yet learned to use. Every trader has his own trading tactics that he works out in the process of trading. Sometimes mastering new trading tactics can be compared with curbing a wild horse.

The analytical information that experts of Ester Holdings Inc. prepare for you every day in the section ANALYTICS will help you to avoid the assumption of various errors in the trading process.

Try to always have a look at the latest expert opinions before entering the deal and read company news  that will help you make a weighted decision. Also, do not forget about the “Trader’s Blog” where you will find a lot of articles about various trading tactics and the influence of fundamental factors on the movement of currency market instruments. And common mistakes of the trader will not be a problem for you.

Alexander Sivtsov