Common Mistakes that DAT Traders Make
Winning in today’s financial markets is a hard task, especially for novice traders. Direct access trading of DAT can tremendously magnify a trader’s abilities; but it can also magnify his or her weaknesses. Below are some common mistakes that DAT traders make.
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- Trading without right preparation or right strategy.
- Trading with under-capitalized accounts.
- Trading inadequate or more than adequate number of stocks or other products.
- Trading the products at the extremes.
- Using highly complex tools and strategies.
- Investing more money to losing positions.
- Avoiding of stop losses and limit orders.
- Looking for a pre-determined market condition to enter or exit a trade.
- Predicting the market direction without analysis or with little analysis.
- Trading with emotion.
- Blindly following other traders.
- Blindly depending on computer-generated statistics and conclusions.
- Not considering transfer fees and other charges involved in trading.
- Rapidly changing strategies by adapting to the NEW HOT strategies.
- Trading heavily on margins.
- Trading with extreme caution –being the last one to enter or exit.
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