Every trader has a list of early mistakes, and our team is no different. We made the four below so you do not have to. This article lays out each mistake from our early days, the lesson it taught us, and how those lessons became the rules behind every trade idea we send today.
Four mistakes from our early days
Trading everything. Forex, crypto, indices, whatever was moving. We were spread far too thin to get good at any of it. Lesson: master one market. For us that became gold. No stop-loss. Trades were left open with no fixed exit, hoping they would come back. Lesson: decide your exit before you enter, every time.
Lots too big. A normal losing trade became a painful one simply because the position was too large for the account. Lesson: size to your account, every time, not to how confident you feel. Chasing losses. After a losing trade, the next one was taken too fast, to win it back. Lesson: a loss is part of the plan, not a reason to abandon it.
Now they are our rules
Every trade idea we send is built on those four lessons. One market only, gold. An entry, a stop-loss and a take-profit on every idea, so the exit is decided before you enter. Guidance on lot size that fits your account. And no forced ideas after a loss, because the next trade comes when the chart gives a reason, not when the last trade hurt.
The result is that new members start with the good habits instead of learning them the hard way. You can see those rules in action in our free community and in the live training sessions we run twice a week.
Key takeaways
- Master one market rather than trading everything
- Decide your exit before you enter, with a stop-loss every time
- Size to your account and never chase a loss
Common questions
What are the most common mistakes new traders make?
Spreading across too many markets, trading without a stop-loss, using lot sizes that are too big, and chasing losses after a losing trade. These four cover most early damage.
Why focus on just one market like gold?
Each market behaves differently. Focusing on one lets you learn its habits properly, which is hard to do while juggling forex, crypto and indices at the same time.
Trade ideas with the levels already worked out
Join the free community and receive XAU/USD trade ideas with entry, stop-loss and take-profit, live training on Tuesdays and Thursdays, and support whenever you are stuck.
Join free on TelegramOpen the calculatorsRisk warning: This article is educational content, not personal investment advice. Gold is a leveraged, volatile instrument and you can lose some or all of your capital. Gold Trade Signals is not FCA regulated. Read the full risk warning.
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