Stupid things that traders do, an evolving thread.

1. Remove their stop loss - do you enter a trade with a plan, but then panic and remove your stop when it's close because you fear price will bounce?

This is how you become an investor or "community member" instead of a trader.

The ONLY time you should change your stop loss is when price rises and you are moving it up to lock in profit. If you are changing it on the way down, it's because you are emotional and are more concerned with being "wrong" than with protecting your capital.

Don't be a jackass.

2. Poor position sizing - You are not a whale, you are a guppy. Position size is everything, and should be calculated after determining your stop loss to assure you only risk 1-2% of your portfolio on a trade. Overbetting is a 1 way ticket to rektville, population 1 dumbass.

Amateurs often over bet because they believe they can get rich quick. This leads to added stress because they are risking too much, which inevitably leads to poor decisions. You cannot change the fact that you are undercapitalized by upping your position size.

3. Being undercapitalized - We are all enamored with stories of traders who started with a thousand dollars and turned it into millions.

Probably didn't happen.

You CANNOT be a pro trader with a small stack, unless you think being a professional means future homeless.

If you want to make a living as a trader, you need a sizable portfolio to start with. It's a catch-22. Figure out your life expenses. Then underestimate your yearly returns, because you are not a chad. Back calculate to total portfolio need.

I'm quite sure you don't have enough.