#TradingMistakes101 1. No Trading Plan:

Mistake:

Starting to trade without a clear plan, including goals, strategies, and profit targets.

How to Avoid:

Create a detailed trading plan, including investment goals, types of assets to trade, entry and exit strategies, and risk management rules.

2. Lack of Research:

Mistake: Not conducting enough research on the market, assets, and trends.

How to Avoid: Conduct thorough research on the market, the assets to be traded, and market trends before starting.

3. Trading Based on Emotions:

Mistake:

Allowing emotions like fear or anxiety to dominate trading decisions.

How to Avoid:

Control emotions and make trading decisions based on the established plan, not on fear or hope.

4. Lack of Risk Management:

Mistake:

Not using stop loss, not determining the right position, or being overly risky.

How to Avoid:

Use stop loss to limit losses, determine the right position, and do not risk too much capital on a single position.

5. Overtrading and Overleveraging:

Mistake:

Making too many transactions or using excessive leverage.

How to Avoid:

Limit the number of transactions and do not use excessive leverage, especially for beginners.