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If you are a New trader try to avoid/correct these common mistakes:-

Lack of a Trading Plan:

Many beginners start trading without a well-defined strategy or plan, which can lead to impulsive decisions and losses.

Overtrading:

Novices may trade too frequently, often in response to short-term market fluctuations, which can lead to higher transaction costs and increased risk.

Ignoring Risk Management:

Failing to set stop-loss orders or risk management rules can result in significant losses if a trade goes against them.

Emotional Trading:

Novice traders often let emotions like fear and greed dictate their decisions, leading to impulsive actions and poor outcomes.

Not Doing Research:

Insufficient research and analysis can lead to uninformed trades, increasing the likelihood of losses.

Overleveraging:

Using excessive leverage can amplify both gains and losses, putting novice traders at risk of wiping out their accounts.

Chasing Trends:

Novices sometimes chase hot trends or follow the crowd without fully understanding the assets they're trading.

Lack of Patience:

Impatience can lead to premature exits or entries, missing out on potential profits or incurring losses.

Not Learning from Mistakes:

Novice traders should analyze their trades, learn from their mistakes, and adapt their strategies accordingly.

It's crucial for beginners to educate themselves, practice with small sums, and gradually gain experience to avoid these common pitfalls in trading.