trading strategy mistakes can cost you more than just money it is important to avoid common pitfalls that many traders fall into one major mistake is trading without a clear plan a well defined plan helps you set entry and exit points and manage risk effectively another frequent error is not researching the markets properly relying on tips or gut feelings instead of solid data can lead to poor decisions overexposing your position or risking more than you can afford can amplify losses and quickly drain your capital emotional trading is also a trap letting fear or greed dictate your moves often results in bad outcomes instead keep your emotions in check and stick to your strategy finally overdiversifying too quickly can spread your attention too thin focus on mastering one market before expanding remember learning from mistakes is key to becoming a successful trader always review your trades and adjust your approach accordingly
