Here are some common #TradingStrategyMistake to watch out for:

Lack of a Plan: Jumping into trades without a clear strategy or rules leads to emotional decisions and losses.

Ignoring Risk Management: Failing to set stop-losses or risking too much per trade can wipe out your account quickly.

Overtrading: Taking too many trades, often driven by FOMO or boredom, reduces focus and increases mistakes.

Chasing Losses: Trying to recover losses by increasing position size often leads to bigger losses.

Neglecting Market Conditions: Using the same strategy regardless of market trends or volatility reduces effectiveness.

Poor Patience: Exiting winning trades too early or holding losing trades too long hurts profitability.

Ignoring Fees and Slippage: Not accounting for trading fees and price slippage can erode profits, especially in frequent trading.

Avoid these pitfalls to improve your trading consistency and success!