#TradingMistakes101 $BNB A simple explanation that anyone can understand.👇👇👇Trading Mistakes 101

Even experienced traders make mistakes, but understanding them is key to success. Here are the most common:

* Lack of a plan: Entering trades without a clear entry, exit, and risk management strategy is a recipe for failure. Always know why you are buying or selling and when you will close your position.

* Emotional decisions: Fear and greed are the enemy of the trader. Avoid panic selling or holding losing positions out of hope. Follow your plan, without giving in to momentary mood.

* Excessive risk: Putting too much of your capital into a single trade can quickly lead to bankruptcy. Use stop-loss orders and do not risk more than 1-2% of your capital per trade.

* Lack of training: Markets are constantly changing. Continuous learning and adapting to new conditions is a must.

* Chasing "hot" advice: Base your decisions on your own analysis, not on unverified rumors.

Remember, discipline and constant learning are your best allies in trading.😎