Avoid Trading Mistakes with IQ Option

Avoid Trading Mistakes with IQ Option

The world of trading is one that is predominantly about trial and error and in their latest blog post, the trading platform, IQ Option have explained how to avoid the latter.

IQ Option are a firm that are continuously helping traders learn to trade more efficiently. Whether that is by informing them about good trading techniques which they can use, or whether that is giving them helpful pointers about keeping track of your behaviour via trading journals or by setting realistic goals. In their latest blog post, they have given users a different insight into the world of trading and it is focused all about avoiding trading mistakes that can cost you dearly.  As the platform points out, “disenfranchised traders that try to blame everything but themselves for their inability to stay in the black”.

It is exactly this mindset that the platform are trying to prevent with their guide to mistakes. As, of course, you can only start to fix these mistakes by first acknowledging they were made and then avoid doing it in the future. With this considered, they have laid out some mistakes that traders make so if you notice you have made any of the ones that they have mentioned, then it is time to fix them. Without further ado, let us take a look at some of the ones they have pointed out so you can get on the road to success and stop wallowing in doubt about your own fortunes.

75% of retail investor account lose money when trading CFDs with this provider.

The Mistakes

The first mistake they have pointed out is the need to avoid trying to beat the market. Market behaviour is not something you can control and, as recent market behaviour has shown, changes to the market can be caused by any number of reasons. Due to this lack of control, there is little sense in trying to beat the market and it is, and has always been, a cruel mistress. Instead, the focus should be on taking the rough with the smooth and trying to combat whatever comes your way with a clear head.

In regards to this “keep a clear head” point, this is one thing that should be maintained constantly and many of the other mistakes they have listed refer to this. Notably, the next point on their list is to avoid not admitting when you are wrong. This is always something to remember as it means that when you make mistakes or judge behaviour wrong, you shouldn’t power on with that misguided decision as that will only perpetuate the issue. Instead, draw a line under mistakes, make sure you remember them and try something new.

This relates to another of their points about not “being the smart one”. Thinking you are above making common mistakes or not being able to take heed the advice due you being cocksure that you are always going to be right about every call is going to steer you down dangerous territory. As mentioned so far, no one can be right all the time and the worst decision to make is to think this doesn’t apply to you.

Furthermore, IQ Option points out the need to remove emotions from the equation. While it is a bit of a cliché, you need to take emotions out of the equation – both positive and negative ones. Sure, it is good to be happy about a good investment, but don’t let that overwhelm you so much that you make a wrong decision in the future. On the flipside of this, and perhaps even more important, is to not let negative emotions like anger or sadness manipulate your decisions either. If needed, take a break and relax before re-immersing yourself into trading.

For more details about these mistakes and a couple of others not mentioned here go to IQ Option to learn more.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

ChangeNOW,Decentralised,Fraud

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021
ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021
eToro,Investment,Trading

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021
Binance,Bitcoin,token

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021
Blockchain,Casino,Ethereum

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Meanwhile, we invite you to check out other Bitcoin casinos from our […]

12 August, 2021
Binance,Casino,Cryptocurrency

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021
Binance,Bitcoin,SEPA

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021