LESSON 12

BEGINNER MISTAKES THAT WILL COST YOU MONEY

Lesson Overview

This lesson highlights the most common mistakes that destroy beginner traders.

Most failures in trading are behavioural, not technical.

The inability to control emotions, follow structure, manage risk, and remain disciplined causes more damage than lack of strategy.

This lesson is designed to help you recognise destructive habits before they become deeply ingrained.

Key Concepts Covered

• Overtrading • Emotional trading • Revenge trading • Strategy hopping • Lack of discipline

What You Should Take Away

Discipline is one of the most important skills in trading. Without it, even strong strategies fail.

Workbook Focus

Reflect honestly on:

• Which mistakes you are most likely to make • How emotions influence decision-making • What habits need developing early

BOURNE

FOREX

ACADEMY

FOREX MADE SIMPLE

FINAL PHASE 1 MESSAGE

Phase 1 was never designed to turn you into a profitable trader immediately.

It was designed to build the foundation most traders never properly develop.

You should now understand:

• Trading is probability-based • Markets move through liquidity • Charts represent behaviour • Risk management is essential • Emotions affect outcomes • Structure matters • Simplicity creates clarity

Most importantly, you should now be starting to think differently about the market.

That shift in perspective is what prepares you for everything that comes next.