3 Main Mistakes of Forex Traders

It is a common thing that most of the forex traders will make mistakes for the first times. Below are few common mistakes:
1. Usage of too much leverage
Leverage or trading on margin is the main advantage of forex trading which most traders are using nowadays. Many forex traders are using Leverage too much which is not good. You can make big trade with small account balance by using too much leverage. But suppose the market is moving against your position by small amount it can make huge losses to you. The main issue is almost all new traders will close the trade when it is in minor loss in the beginning stage of business.
2. Over Trading
If some traders try to make opportunities to trade when there is no such trade occurs is called over trading. As new traders will always to make trade it happens to them. The result of this poorly executed trade is loss of money. Also the over trading helps the traders to make more trades at a time using more margin.
3. Picking of Tops and Bottoms
It is a tendency of new traders to pinpoint a currency pair which will turn around and begins moving in the opposite direction. But this is difficult process for professional traders also.