Many traders, both new and experienced, fall prey to predictable strategy mistakes. A big one is over-complication; simpler strategies often perform better.
Another pitfall is ignoring risk management – position sizing and stop-losses aren't optional, they're essential. Lack of backtesting or improper backtesting can lead to false confidence; ensure your strategy holds up against historical data, accounting for slippage and commissions. Emotional trading, letting fear or greed dictate decisions, is a sure path to losses.
Stick to your plan! Finally, failing to adapt or learn from mistakes, continuously repeating the same errors, stunts growth. Consistent review and adjustment are key to long-term success.
