Mistakes
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1. Lack of a clear trading plan
Entering trades without a strategy or rules for risk management.
Making random decisions based on feelings or others' recommendations.
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2. Overtrading
Opening a large number of trades in a short time.
Trying to quickly recover losses, which increases the level of risk.
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3. Using high leverage without complete understanding
Leverage multiplies profits and losses.
Can lead to losing all capital quickly.
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4. Neglecting capital and risk management
Risking a large percentage of capital on a single trade.
Not setting stop-loss orders.
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5. Relying on emotions
Fear or greed leads to making irrational decisions.
Exiting early from winning trades or holding onto losing ones.
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6. Lack of learning and analysis
Ignoring technical or fundamental analysis.
Not following economic news and its impact on the market.
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7. Overconfidence after initial profits
A false belief that initial success means the ability to continue performing at the same level.
This may lead to recklessness and excessive risk-taking.
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8. Seeking quick profit
Entering with the goal of 'quick wealth' leads to illogical decisions.
Successful trading requires patience and a long-term strategy.
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9. Relying entirely on technical indicators
Some traders think that indicators provide certain signals.
Indicators should be combined with comprehensive analysis and understanding of market movement.
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10. Failing to document trades and learn lessons
Not reviewing previous trades to improve performance.
Repeating the same mistakes unconsciously.
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If you are at the beginning of your journey, I advise you to practice on a demo account, set a clear plan, and read books or take courses on technical analysis and risk management.