A common mistake made by novice traders is that of chasing a price – meaning that the trader is dramatically raising or lowering his order price in a desperate attempt to catch a move.

A trader should stick to his plan and remember that nothing is lost by missing the move and those prices go up and down. There is nothing stopping you from catching the next move – so consider the notion of “letting the price come to you”. And when it does enter the market as per your plan and keep your emotions in check and your wits about you.