1. Exiting winners early. Exiting a profitable trade early is tempting, especially if you have been on a losing streak lately. If you buy a stock at $40 with a target of $47 you can’t sell when the stock goes to $44. The main reason this is hard to do is because you know that a wining position can always turn around. You don’t make money until you exit the position. It is natural to want to get out when you are ahead. Even just a little. But you should remember a strong position can also stay strong. Remember letting your winners ride will go a long way.

2. Not keeping your losses short. For swing traders it is absolutely critical to cut your losses short. That is the only way you can make money when you are seeking short term profits. It will help keep your losses small by only taking trades that offer a 2/1 risk to reward.

3. Going for the extra quarter. In a swing trade you will sometimes find yourself trying to squeeze out the extra $.25, even if it has already hit your target. If you do you are taking a big risk. Getting out once you hit your target is reached can be a very good idea.

4. Getting stressed out during losing streaks. When you are dealing with the stock market you are bound to have your winning streaks and losing streaks. You can’t get around it. Don’t get stressed out by losing streaks, just remember to keep your losses small during bad times and let your winners run when you have them.

5. Not learning from your past mistakes. It is important to keep learning from your past trades. Every time you make a mistake in the market take that opportunity to learn. If you do it can help you to not make the same mistake again in the future. If you don’t you can make the same many times over.