TOP 5 Day Trading Beginner Mistakes to AVOID

Share this & earn $10
Humbled Trader
Published at : 11 Jan 2021
1174919 views
83816
1153

Trade with me: https://humbledtrader.com
🔽Time stamps:
1:37 Not planning your trades
4:08 Focus on trading PNL, not trading the charts
7:30 Not spending enough time paper trading
9:39 Scaling up trading size too quickly
11:32 Following chat room alerts to buy or sell stocks

Get my FREE Trading Journal + Weekly Stock Picks🎁
https://bit.ly/2WIm5rJ

Are you a beginner day trader and making these COSTLY mistakes?
1. Not having a trading plan:
Many beginners jump into hot stock due to FOMO without knowing why they were buying, why the stock was running, nor their risk reward and exit plan. This is also known as chasing and will easily lead the trader to buying the VERY TOP.

2. Over Trading, which leads to Revenge Trading:
Instead of trading according to their plans and the chart in front of them, many traders are trading their PnL (profit and loss). This will lead to over trading, then emotional trading, and finally revenge trading. I have blown up my trading account this way before due to emotional trading.

3. Not Paper Trading:
Paper trading is basically risk free market screen time. Day trading beginners need to learn broker interface, how each stock reacts, and practice your technical analysis on LIVE charts. Paper trading will allow you to gain market screen time and prepare your mind emotionally for the ups and downs of stock trading.

4. Scaling up share size too quickly:
When I started making $100 a day, I was so excited. So much so I wanted to jump into making $1000. I quickly learned that sizing up x10 means escalating the emotions as well. Psychologically, I was not ready for x10 the stress. It's very important to take your time when sizing up.

5. Following chat room alerts!
You want to become a profitable day trader? Stop following others.
This is perhaps the DEADLIEST trading mistake I see beginners do. Many of these trading chat rooms pump the stock up and dump the shares on unsuspecting beginner traders.

🖥️My Stock Scanners & News feed:
Benzinga Pro FREE 14 day trial (use code "HUMBLEDTRADER" to get 25% Off )
http://bit.ly/2KXeAqH
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)
https://lddy.no/m523

📉My Trading Broker Platforms:
Cobra Trading (Best broker for shorting stocks, $30K min)
Get 25% off commissions, mention "Humbled Trader" at the time of account opening
https://bit.ly/3iNLqJq

Interactive Brokers: https://bit.ly/3hqecOG
Interactive Brokers Canada: https://bit.ly/2FBwdMo

🇨🇦Questrade Canada (get $50 FREE commission trades)
http://bit.ly/2GoeUMY
Webull Free Trading app (Get free stocks with $100 deposit)
http://bit.ly/2Lhtd9X

Premium Trading Indicators (use code "HUMBLED10" to get 10% OFF)
https://bit.ly/2Rno2Gh
Get My Trading Station Set Up & Favorite Trading Books
https://www.amazon.com/shop/humbledtrader

✅My REAL Social Accounts:
IG: https://www.instagram.com/humbledtrader/
FB: https://www.facebook.com/HumbledTrader
Twitter: https://twitter.com/HumbledTrader18
#daytrading #pennystocks #stocks
___
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.

Humbled Trader FAM count: 163,400
ricky gutierrezwarrior tradingbeginner day trading strategies

Eiffel 65 - Blue (Da Ba Dee)

Eiffel 65 - Blue (Da Ba Dee)

SOAP CARVING | How to a carve Flower in soap | Tutorial soap art

SOAP CARVING | How to a carve Flower in soap | Tutorial soap art

What happens If you hold your breath while scuba diving and freediving

What happens If you hold your breath while scuba diving and freediving

A Stikbot Story (Stopmotion)

A Stikbot Story (Stopmotion)

Mixture Recipe in Tamil | South Indian Mixture Recipe in Tamil | How to make Spicy Mixture

Mixture Recipe in Tamil | South Indian Mixture Recipe in Tamil | How to make Spicy Mixture

Remove old skin for nails

Remove old skin for nails

Journal Research Review of Fabric Masks, Best Fabrics Search, and Applied Science Mask Reviews

Journal Research Review of Fabric Masks, Best Fabrics Search, and Applied Science Mask Reviews

My Best Crop of Beets

My Best Crop of Beets

Via Vallen - Bunga - Tarek Ses ... Semongko ( Official MV Viva Music Indonesia )

Via Vallen - Bunga - Tarek Ses ... Semongko ( Official MV Viva Music Indonesia )

Delete OU That is Protected From Accidental Deletion

Delete OU That is Protected From Accidental Deletion

Identical Twin Brothers on Having Three Sets of Twin Sons Between Them | Good Morning Britain

Identical Twin Brothers on Having Three Sets of Twin Sons Between Them | Good Morning Britain

Billionaire LUXURY  Lifestyle Motivation 👑  BEAUTIFUL LIFE

Billionaire LUXURY Lifestyle Motivation 👑 BEAUTIFUL LIFE

Naked Stock to $10?! (NAKD) Should you buy Naked Brand Group LTD

Naked Stock to $10?! (NAKD) Should you buy Naked Brand Group LTD

Stainless Steel Production Process - ArcelorMittal Châtelet Site

Stainless Steel Production Process - ArcelorMittal Châtelet Site

Blackheads Extractions “K’s” 8th Treatment

Blackheads Extractions “K’s” 8th Treatment

Bill Burr Teaches Elijah Wood How To Kill

Bill Burr Teaches Elijah Wood How To Kill

Biden Issues A Memo To Stop Or Postpone Trump Administration's Regulations

Biden Issues A Memo To Stop Or Postpone Trump Administration's Regulations

Summer Fashion Hacks! Fun Outfit DIY ideas for Girls

Summer Fashion Hacks! Fun Outfit DIY ideas for Girls

NIGHT ROUTINE WITH MY NEWBORN (2 weeks old) +EXCLUSIVELY BREASTFED

NIGHT ROUTINE WITH MY NEWBORN (2 weeks old) +EXCLUSIVELY BREASTFED

Formal or Informal Japanese?

Formal or Informal Japanese?

Military Sonar

Military Sonar

Depending On No-Thing with Robert Saltzman

Depending On No-Thing with Robert Saltzman

Louis Armstrong-The Bare Necessities

Louis Armstrong-The Bare Necessities

I had my jaw wired shut for 2 months

I had my jaw wired shut for 2 months

FIRST YEAR AS A FILMMAKER

FIRST YEAR AS A FILMMAKER

We need to talk about an injustice - Bryan Stevenson

We need to talk about an injustice - Bryan Stevenson

Alberto grasu x Yny sebi - Superstar

Alberto grasu x Yny sebi - Superstar

Innovative Sales Organizations Create Space for Focused Prospecting | Sales Training

Innovative Sales Organizations Create Space for Focused Prospecting | Sales Training

Ole says Amad Diallo can be chosen to face Liverpool,Bruno Fernandes calls out Man United "Yes Men"

Ole says Amad Diallo can be chosen to face Liverpool,Bruno Fernandes calls out Man United "Yes Men"

DJ Snake & MERCER feat. Jermaine Dupri - Let's Get Ill [Tchami & Malaa Live]

DJ Snake & MERCER feat. Jermaine Dupri - Let's Get Ill [Tchami & Malaa Live]

Group Multiplication Tables | Cayley Tables  (Abstract Algebra)

Group Multiplication Tables | Cayley Tables (Abstract Algebra)

LOSING SIGHT OF SHORE Official Trailer 2020

LOSING SIGHT OF SHORE Official Trailer 2020

Kate Soper: HARK excerpt (adapted)

Kate Soper: HARK excerpt (adapted)

Iklan A Mild Go Ahead versi Langkah (2016)

Iklan A Mild Go Ahead versi Langkah (2016)

Queens of the Stone Age - I Appear Missing - Live Rock en Seine 2014

Queens of the Stone Age - I Appear Missing - Live Rock en Seine 2014

A Boogie Wit Da Hoodie - Reply (Lyrics) ft. Lil Uzi Vert

A Boogie Wit Da Hoodie - Reply (Lyrics) ft. Lil Uzi Vert

JUNKYARD RESCUED CRX 10: Rolling Into The Home Made Paint Booth!

JUNKYARD RESCUED CRX 10: Rolling Into The Home Made Paint Booth!

Road Rage – Why Motorcycle Riders Smash Windows

Road Rage – Why Motorcycle Riders Smash Windows

‘A Change Is Gonna Come’ for Lifford after he gets a GOLDEN BUZZER! | Auditions | BGT 2018

‘A Change Is Gonna Come’ for Lifford after he gets a GOLDEN BUZZER! | Auditions | BGT 2018

HighTraffic Blog - Day 7 (Publishing a SEO optimised article with Royalty Free Images)

HighTraffic Blog - Day 7 (Publishing a SEO optimised article with Royalty Free Images)

Is PHP still relevant?

Is PHP still relevant?

Teddy Talks: Preparing for the 11 Plus

Teddy Talks: Preparing for the 11 Plus

I Helped A 9 Year Old Get A Fortnite Girlfriend..

I Helped A 9 Year Old Get A Fortnite Girlfriend..

DIY Recycled Plastic Flowers | Easy Plastic Bag Crafts

DIY Recycled Plastic Flowers | Easy Plastic Bag Crafts

WHY I BUN CERTAIN DANCEHALL ARTIST.

WHY I BUN CERTAIN DANCEHALL ARTIST.

Sika® FloorJoint PDRS: A More Robust and Waterproofing Car Park Solution

Sika® FloorJoint PDRS: A More Robust and Waterproofing Car Park Solution

Remove background noise from your recordings with Denoise

Remove background noise from your recordings with Denoise

Demo Wednesday | Sizeable: Epic Low poly Puzzle game|

Demo Wednesday | Sizeable: Epic Low poly Puzzle game|

HealthWatch: 23andMe Approval, 'Dog Speak' Is Beneficial

HealthWatch: 23andMe Approval, 'Dog Speak' Is Beneficial