#TradingMistakes101

Common Trading Mistakes

Lack of a Trading PlanMistake:

Entering trades without a clear strategy, including entry/exit points, risk management, and goals, often leads to impulsive decisions driven by emotions.Solution: Develop a detailed trading plan outlining your objectives (e.g., short-term gains or long-term growth), risk tolerance, capital allocation, and specific criteria for trades. Stick to it consistently.Why It Persists: Novice traders often rush into markets, lured by potential profits, without preparation, underestimating the need for structure.