Common trading mistakes, and how to avoid the expensive ones
After enough onboarding calls, the same handful of mistakes appear again and again. The first is starting too large: depositing more than a first month of learning comfortably justifies, so that an ordinary drawdown feels like an emergency. A beginner month is for calibration, and the Basic plan's £250 entry point exists precisely so the first mistakes are cheap ones.
The second is confusing a bull market with skill. In a rising market almost every position rewards its owner, and it is easy to conclude that the strategy, or the operator, is a genius. The test of an approach is what it did in the bad weeks, which is why our reporting shows drawdowns alongside gains rather than a highlight reel.
The third is revenge trading: increasing exposure after a loss to "win it back", usually at the worst possible moment. The cure is mechanical, not emotional: decide in advance the maximum you will expose, and treat hitting that number as a full stop, not a negotiating position. The fourth mistake is ignoring costs: a strategy that gains 2% a month while paying 3% in combined costs is not a strategy, it is a subscription. Read the fee page before you celebrate a statement.
If you take one habit from this article, make it the written plan: amount exposed, maximum acceptable loss, review date. Ten lines, decided calmly, beats a hundred decisions made at midnight.