Here are some of the biggest trading mistakes:
Risking Too Much
Risking too much is one of the top causes of a blown trading account. Your trade size should be small enough that you feel no emotion whether your trade is losing or winning. Proper position sizing helps to control risk and ensure you will never see your account go to zero.
Trading Without a Plan
A historically verified and backtested trading plan is central to a trader's success. A plan that has a proven edge will lead to long term success if stuck to consistently over time.
Revenge trading combines two of the worst mistakes you can make in trading, forcing trades and trading based off of your emotions. Stick to your plan, move on and realize that losses are a part of trading.
Not Using a Stop Loss
You should know when you are going to exit your trade before you make your entry. A stop loss will help protect you and your account from unexpected swings in the market and ensure you exit before a loss gets out of control.
Letting Losses Run
Holding on to your losses will skew you risk to reward ratio. Refusing to accept losses combined with cutting your winners short will result in losses larger than your wins, ultimately ending in a losing trading plan.
Not Using a Trading Journal
A trading journal gives you a way to measure your performance and get feedback on your trading plan. It's a great way to refine your strategy and make sure your mindset is staying on track. You should review it after each trade, daily, weekly and periodically as per your plan.