#TradingMistakes101 New traders often stumble into common pitfalls, leading to significant losses. A fundamental mistake is trading without a well-defined plan, including clear entry/exit points and risk management. Emotional decisions, driven by fear of missing out (FOMO) or revenge trading after a loss, frequently override logical analysis. Many fail to cut losses short, hoping for a market reversal, while simultaneously taking profits too early. Overleveraging, insufficient research, and neglecting diversification also plague novice traders. The key to avoiding these errors lies in disciplined planning, continuous learning, strict risk management, and the ability to control emotions.