1. No Risk Management
-➡️ Example: Risking 50% of your account on one trade, losing it all, and having no capital to continue.
-💡 Tip: Only risk 1-2% of your capital per trade and always use a stop-loss. ⚖️📉
2. Emotional Trading
-➡️ Example: After losing $500, you double your position size to recover and lose even more.
- 💡Tip: Step away after a loss and stick to a predefined trading plan. 🛑🤯
3. No Trading Plan
➡️- Example: Entering trades randomly without clear entry/exit rules and consistently losing.
💡- Tip: Create a written trading plan with strategies and follow it strictly. 📋📊
4. Chasing FOMO
➡️- Example: Buying Bitcoin at its peak during a rally and watching it crash.
💡 Tip: Wait for pullbacks or confirmations before entering trades. 🐂📈📉
5. Ignoring Analysis
➡️- Example: Following a "hot tip" on social media and losing money because the trend was bearish.
- 💡Tip: Always perform your own analysis before acting. 🧠🔍