10 Common Trading Mistakes That Cost You Money
Avoid these costly errors that trap both novice and experienced traders. Learning from these mistakes can save you thousands in potential losses:
- Trading without a clear strategy or plan
- Ignoring risk management principles
- Emotional decision-making during market volatility
- Overtrading and excessive position sizing
- Failing to diversify your investment portfolio
- Chasing hot tips without proper research
- Not setting stop-loss orders
- Revenge trading after losses
- Neglecting to keep trading records
- Following the crowd instead of independent analysis