📉 Typical Trading Mistakes: Don't Allow Them! 📉
1. Trading Without a Plan
Without a clear trading plan (entry/exit, risks), you are just guessing, which leads to losses.
Solution: Always have a detailed plan.
2. Underestimating Risk Management
Forgetting about stop-losses or risking too much? This is a quick way to wipe out your account.
Solution: Always use a stop-loss, risk only 1-2% of your account on a trade.
3. Emotional Trading
FOMO (fear of missing out) or trying to make up for losses (Revenge Trading) ruin your account.
Solution: Stick to the plan, don’t give in to emotions. Take breaks.
4. Insufficient Learning
Trading without knowledge and testing strategies on a demo account is suicide for your account.
Solution: Learn, test every strategy before using real money.
5. Overtrading
Too many trades without clear signals lead to unnecessary fees and fatigue.
Solution: Trade only on clear signals. Quality is more important.
6. Lack of Discipline
Trading is a marathon. Impatience and not sticking to the plan are enemies of success.
Solution: Be disciplined and patient.
Remember: mistakes are part of learning. Analyze them and improve!
