#TradingStrategyMistakes Many people enter the market thinking that it's the fastest way to wealth, but the first mistake they make is working without a specific plan. You find yourself buying and selling just because you heard some news or someone gave you a tip; this alone is enough to wipe out your account in a few months. Greed also defeats many; you find that a trade has made some profit and you think it might continue and reach a larger number. Suddenly, the market reverses, and all the profit disappears. Some people wait for a guaranteed 100% signal before they act, and with excessive waiting, opportunities pass them by. The more dangerous thing is that after you lose, you enter with a doubled amount to recover quickly, and this often wipes out your balance. Capital management is not a luxury; it is the only line of defense. If you do not set a fixed risk percentage for each trade, you will find your losses exceeding any gains. Another part of the mistake is trying a new method every period without committing to a plan and giving it enough time to determine if it is effective or not. Constant reliance on others' recommendations makes you just a follower without vision or experience, and once circumstances change, you will find yourself lost and unable to make a decision. If you intend to build a future in trading, you must have a written plan, a clear risk percentage, a consistent approach, and personal analysis that develops over time. Only then will you be able to protect your money and trade with confidence.
