#TradingStrategyMistakes
🔴Here 5 tips for trading 👇
🔴 1. Lack of a Trading Plan💥
Mistake: Trading based on emotion or gut feeling without a clear entry/exit plan.
Fix: Create a well-defined strategy with rules for entries, exits, risk management, and trade size.
🔴 2. Overtrading💥
Mistake: Taking too many trades due to boredom, FOMO (fear of missing out), or revenge trading.
Fix: Only trade setups that match your strategy and avoid forcing trades.
🔴 3. Poor Risk Management💥
Mistake: Risking too much on one trade or not using stop-losses.
Fix: Risk a small percentage (usually 1–2%) of your capital per trade. Always use stop-losses.
🔴 4. Ignoring the Trend💥
Mistake: Trading against the trend (e.g., shorting a strong bull market).
Fix: Use trend-following indicators (like moving averages) to stay aligned with market direction.
🔴 5. No Backtesting or Practice💥
Mistake: Using a new strategy live without testing it.
Fix: Backtest your strategy on historical data and paper trade before going live.
