#TradingMistakes101 1. Trading Without a Plan
Jumping into trades without a defined strategy is like sailing without a compass. Without a plan that outlines your entry, exit, and risk management rules, emotions tend to take over—leading to impulsive decisions and preventable losses.
2. Overtrusting External News
Relying too heavily on news reports or media hype can mislead traders. Markets often react to expectations, not just headlines. Like weather forecasts, news may hint at possibilities, but basing trades solely on them is risky.