My biggest trading mistakes have included letting losses run, not taking profits, hesitating on good trade setups, and being over-eager to trade (overtrading).
The worst mistake is following what everyone else is doing. This lead to me paying too much for stocks that are overvalued and watching them crash before my eyes. They offer little to no profit and I only invested in them because it is a “common” stock. “The trend is your friend” I thought. Boy was I wrong.After everyone left the stock I had no confidence to invest in anything else. I finally decided to invest in Ford and watched as i got $700 returns and I was like “What the heck”! I was so confused that this stock wasn’t a stock that many people recommended yet it bought more returns in one day than i had in 2 weeks with the other mainstream investments.