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        Top Tips for New Users

        Views 10k2022.11.09

        Don't make these 3 trading mistakes

        Trading is 90% planning, 10% holding on for dear life. In this meme stonk world, even the best of us have made these mistakes:

        1.     Not having a plan: The #1 mistake most traders make is not having a plan or not following one.

        Try this instead: Avoid FOMO by setting up a paper trading account to simulate buying and selling without risking real money.

        2.     Overtrading or revenge trading: You make a few good trades, have a decent P&L and instead of calling it a continue trading. Before you know it, your P&L is in the red, you’re getting emotional and doing revenge trades (i.e. forcing trades after a big loss).

        Try this instead: Follow your stop loss plan, step away from your trading to regain control of your emotions, and if necessary, reassess your trading plan.

        3.     Scaling up too fast: Your P&L is up $200 a day, you get cocky and decide to add a zero to the end of that position. The problem with scaling up positions too fast is that it involves a lot more risk and stress that we're ill equipped to handle.

        Try this instead: Stick to the original plan. Put aside a certain amount of money to trade each month, increase it incrementally over time to allow yourself to prepare for proportionally bigger losses, and minimize emotional trading.

        Trade like a pro with moomoo

        Get free stock and start your professional trading today

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        This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

        Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

        In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

        In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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