Many people enter the market imagining that it's the quickest path to wealth, but the first mistake they make is to work without a specific plan. You find yourself buying and selling just because you heard a rumor or someone gave you a tip. This alone can wipe out your account in a few months. Greed also defeats many; you find that the trade gained a little, and you think it might continue and reach a bigger number. Suddenly, the market reverses, and all the profit disappears. There are people who wait for a 100% guaranteed signal before they act, and with excessive waiting, opportunities pass them by. The more dangerous thing is that after you lose, you enter with a doubled size to recover quickly, and this often wipes out your balance. Managing capital is not a luxury; it is the only line of defense. If you do not set a fixed risk percentage for each trade, you will find your losses greater than any profit. Another part of the mistake is that you try a new method every period without committing to a plan and giving it enough time to see if it's effective or not. Continuous reliance on others' recommendations makes you just a follower without vision or experience, and as soon as circumstances change, you will find yourself lost and unable to make a decision. If you intend to build a future in trading, you must have a written plan, a clear risk percentage, a consistent method, and personal analysis that develops over time. Only then will you be able to protect your money and operate with confidence.
