For speculators (traders):
1. Random entry without a plan
Avoid entering a trade just because the price is moving quickly or based on ill-considered advice.
Make a clear plan that includes entry points, target, and stop loss.
2. Neglecting stop loss
Entering without setting a stop loss level may lead to large and unexpected losses.
3. Trading with money you cannot afford to lose
Do not use money you need for life or essential matters in trading.
4. Being affected by emotions (fear and greed)
Do not make decisions based on fear of loss or greed for large and quick profits.
5. Overtrading
Making a large number of trades in a short time may lead to capital depletion.
Carefully choose the trades that fit your strategy.
6. Relying on recommendations only
Do not rely entirely on the recommendations of others without checking them yourself and analyzing them carefully.
7. Neglecting Risk Management
Risking a large percentage of your capital in a single trade can be disastrous.
Stick to a fixed risk ratio (1-5% maximum per trade).
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To be continued…!!
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