Overleveraging: Overleveraging is trading too large a position size relative to your available margin. Even a small market move against you can be enough to cause an overleveraged position to be liquidated for insufficient margin.
REMEMBER!
This common no-no is made more tempting by the generous leverage ratios available with some online forex brokers. Just because they offer you 100:1 or 200:1 leverage does not mean you have to use it all. Don’t base your position size on your maximum available position. Instead, base your position size on trade-specific factors such as proximity to technical levels or your confidence in the trade setup/signal.
Failing to adapt to changing market conditions: Market conditions are always changing, which means your trading approach needs to be flexible, too. Trends give way to consolidation ranges, and breakouts from ranges may lead to new trends. Stay flexible with your trading approach by first evaluating overall market conditions in terms of trends or ranges. If a trending move is under way, using a range-trading style won’t work, just as a trend-following approach will fail in a range-bound market. Use technical analysis to highlight whether range or trending conditions prevail.
http://www.dummies.com/personal-finance/investing/currency-day-trading/10-beginner-forex-trading-mistakes/
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Be on the lookout for my next blog where I will reveal 2 more "beginner" trading mistakes!!
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