“Paralysis of Analysis”.

Getting bogged down with technical stuff. In common terms, that’s referred to as “paralysis of analysis”.
Like most financial markets there are an almost indefinite number of factors one can look at before making a trading decision. All sorts of indicators exist like support and resistance levels, moving averages, pivots, oscillators, and Fibonacci and trend lines.
The big problem for new traders is these indicators create confusion more than anything else. The solution is to find a trading method that simplifies the process. Perhaps the simplest trading method is one that relies on only two or three easy to measure indicators. Anything beyond that stifles most traders.

The second mistake is…
Letting Emotion Dictate How You Trade!
All investing markets are driven primarily by the emotions of fear and greed. Whether we like it or not that’s just the way it is.
Panic selling and holding on to a position to squeeze out every last pip is typical, but emotional trading can lead to making bad decisions and an empty trading account.
Keeping your emotions in check is actually not that hard. First of all, go into any and every trade with a complete plan. Know when and where you’ll enter and exit. Determine ahead of time where you’ll place your stop losses. Secondly, don’t abandon your plan in the heat of the battle. Keep your objectives in sight and follow through.
One more thing: Paper trading properly will help you avoid these mistakes. Pretend your demo account is real. Find a simple trading system that relies on two or three indicators at most and…
Master It during Paper Trading!