There are quite a number of people living through day trading in stocks, commodities or other investments. After I research some information about Day Trading and I had my own experience in Forex Trading, I found that sometimes it is hard to be a day trader if you less of self-disciplined, strategy and plans.

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So thanks to About.com for sharing the 5 common day trading mistakes with us and I’m going to put it here in my blog for reference.

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Common Day Trading Mistakes

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1. Lack of a trading plan - don’t have a plan on how to trade such as how much stocks to hold, how long to hold it. Once has the plan, we must stick to it.

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2. Failure to control emotions - Control emotion in trading will determine how good you are as a trader. Your emotion is one the factor that you should never take for granted.

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3. Failure to accept and limit losses - Reluctant to exit from a losing position or close the position at the profit level because their brain just full of “What if”.

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4. Lack of commitment - Less of self commitment on spending time and effort to study and monitor the markets, learning how to trade, learning the technical analysis, new trading system and methods

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5. Over-trading - Have the wrong mindset that day trader should have open position in everyday. Market is unpredictable and sometime it is good to stay away from the market without any open position. So be careful of over-trading.

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Source : About.com

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