Losing your deposit is the worst nightmare of any trader. If you like such «horror stories» in your life, then here are the 10 most important mistakes of traders that are guaranteed to lead you to losing your deposit.

No system.

If you trade as God puts it into your soul, then sooner or later He will do the same to you…

In general, no one has ever built anything good without a plan. So – long live the system!

No algorithm.

If you have a great system, but it’s only in your head, you’ll lose.

You need an algorithm – a clear, step-by-step plan consisting of simple and specific instructions – what to do, in what situation, how and in what sequence.

Only then do you have a chance to stay in trading.

You trade with the money that you value very much.

Binary options trading is one of the most dynamic and at the same time risky forms of investing in financial markets. It attracts traders with the opportunity to make a quick profit, but it is important to remember that each transaction is associated with the risk of losing the invested funds.

Thus, trading with money that is especially valuable to you can be not only stressful, but also a dangerous strategy. Emotional attachment to funds increases the risk of rash actions, which leads to errors in capital management and, as a result, to losses.

Lack of money management.

Many traders do not even know what it is. Money Management is a large component of success in trading, no professional trader works without it.

Choosing the size of a position, when to increase the volume, when to decrease it, what lot to trade – MM is responsible for all this.

By the way, some capital management methods can increase the profitability of the system several times.

Closing a deal before reaching profit.

Many people close a profitable deal manually a few points before the order.

Doing this many times, you deprive yourself of tens of percent of profit, it’s the same as paying a double spread.

This way, you break your statistics, that is, you get mistake number one – you trade without a system!

You don’t keep statistics.

Statistics are the basis for your system. Only by them can you clearly see where you are making mistakes, where you are earning, what time is best for you to trade, and when – not to approach the computer at all.

Trader statistics – this is, if you like, your karma – it completely shows what you are doing, what you will do…

Correcting errors is impossible without statistics, because without statistics you simply won’t see them!

There is a joke: “

– I can’t lose weight, although I have already tried 17 diets.

– Yeah… and all in one day.”

The seventh mistake is changing your strategy during trading. It is stupid to change your approach during trading and try to justify it with some reasons.

In fact, you were unable to follow your strategy, so you are trying to change it. It is worth improving the strategy and making changes only based on the results of statistics, and outside of working hours.

Big risks.

“Oh, crap, here it’s only a percent more”, “This will definitely work, I’ll go for 10%”.

This is a misunderstanding of the influence of Money Management on trading results. Inflated risks will lead to loss of money or huge drawdowns.

Trading during problems, illness and any negative emotional states.

Trading during an emotional crisis, a quarrel with your wife/husband, illness, divorce, troubles at work is the shortest path to a drain.

Trade only when you are in a normal, even mood, and you have no obligations hanging over you.

And the last mistake that is guaranteed to lead to a drain is the desire to “do everything at once”.

Close the loss immediately (while increasing the volume), get rich immediately (by opening 100500 transactions at the same time, or one, but for the entire deposit).

How to fix it? Always remember about tomorrow. You will be able to recoup the loss, cover the drawdown – but if you have a deposit and there will be tomorrow.

The market will always be there. But if you get carried away today, you will not be on the market tomorrow.

Remember these mistakes, do not make them!