There’s plenty of verified profitable traders who make millions and willingly give pieces of advice to other traders. We gathered some of the best advice here for you to read.

#1

Know your risks before entering a trade. When you know the risks, you can size appropriately based off of your risk point so that losses won’t be too high if the trade goes wrong.

#2

Never think that it’s “Up too much” or “Can’t go lower” because it can. It is okay if the market makes a move that doesn’t make any sense. Don’t hold on to losers.

We all know what mistakes beginners make, but what about pro traders? Sometimes experience comes at a price, and even the most proficient traders can fall into a trap. We gathered some of the most common mistakes of pro traders.

#1 Overtrading

Some traders may trade too many positions at once, that exhausts available margin collateral, reducing cushion against adverse market movements. And also when you trade too often, you always have an open position and are constantly exposed to market risk. To avoid these mistakes, it’s better to focus on opportunities where you think you have an advantage and apply a disciplined trade strategy to them.