1. Not having a trading plan. A clear, defined plan helps keep you on track and reduces emotional decision making.

2. Trading with a system that doesn’t fit your personality or strengths. Choose a system that aligns with your skillset and risk tolerance.

3. Trading with insufficient capital. Make sure you have enough funds to weather market fluctuations or draw downs.

4. Ignoring stop loss rules. Setting stop loss points helps limit potential losses and protects your trading capital.

5. Chasing the market instead of waiting for opportunities. Patience is key in trading.

6. Letting emotions guide decision making. Stay disciplined. Don’t let fear, greed, and hope ruin your trade.

7. Not accounting for taxes, fees, and charges. Make sure to factor these into your trading strategy.

8. Not reviewing and documenting your progress. Keep a record of your trades and evaluate your progress regularly.

9. Not keeping up with news and market trends. The market is constantly changing and not being updated on current news can devastate your trade.

10. Similar to #4, letting losing trades ride hoping they will come back to your target. Take the ‘L’ and preserve your capital. Live to trade another day.

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