#TradingMistakes101 Trading Mistakes 101: Common Pitfalls and How to Avoid Them

Trading can be an exhilarating and potentially lucrative endeavor, but it's also fraught with peril for the unprepared. Many aspiring traders fall prey to common mistakes that can quickly decimate their capital and dampen their enthusiasm. Understanding these pitfalls is the first step toward avoiding them and building a more robust trading strategy.

Here are some of the most frequent trading mistakes and actionable advice on how to steer clear:

1. Trading Without a Plan (or Not Sticking to It):

* Mistake: Jumping into trades impulsively, driven by emotion or a "hot tip," without a defined strategy for entry, exit, risk management, or position sizing. Even having a plan but deviating from it due to fear or greed.