2 Mistakes That can Destroy Your Trading Account
Many people are interested in trading stocks, but many don’t know the risks that come with it. If you’re new to stock market trading, then there are a few mistakes that you should avoid at all costs if you want your account to succeed.
Here are few mistakes that will destroy your trading in singapore account!
First: The first one is trying to time the market. If you’ve ever seen a stock that has just skyrocketed, then there is nothing more exciting than looking at charts and looking for supplies that will do well in the future.
However, timing can be extremely difficult because it’s impossible to predict when something will increase or decrease very easily. Trading often means holding onto your stock until the price starts going down before selling off any of it.
Second: The second mistake is making sure you have enough capital to start trading with. Potential profits tempt some people without thinking about how much money they need.
Many new traders don’t realize that most brokers require them to deposit thousands into their account before placing trades on behalf of their clients, so make sure you’re aware of this before you even consider trading.
In conclusion, trading can be a great source of income, but it’s also risky. If you’re not careful with your money and trades, this could be a very expensive hobby.