From my experience the gravest mistake that a lot of beginner traders tend to do is to expect that they will manage to get rich quickly and easily. Such an expectation clouds their judgement and does not allow them to concentrate on important aspects such as gaining experience, learning slowly but as fully as possible, and the tendency of rushing things too much, only to end up suffering losses, often consecutively, and then this leads to failure.

A common mistake that beginner traders make is following advice from others without doing their own research. They only look at the advice of one mentor or they don’t even think to do their own research first. As a result, they end up making decisions on investments which are not right for them and they lose money on trades more frequently than they would have otherwise. Beginner traders also tend to be impatient and jump in too quickly when markets are moving.