Here are a few of them.
1- Not predefining your risk.
2- Not cutting losses.
3-Not systematically taking profits.
4-The need to be “right”.
Your need to be “right” and being a profitable trader are enemies. People often ask, “Have you ever been wrong”. This is about as silly as asking a professional boxer if he has ever been punched in the face. Getting stopped out and being “wrong” is part of the business.
The question is not, “have you ever been wrong?”
The questions is, “how does being wrong affect you executing your plan?”
Novice traders often feel after a losing trade that the market is out to get them. Or the market owes them something. They seek revenge on a given market. These are the worst emotions to have while trading. They throw out there trading plan and become reckless. It is important to remember that the market is neutral. It does not care about your feelings.