No Trading Plan: Jumping in without clear entry/exit rules is gambling, not trading You need a written plan. Overleveraging: High leverage can wipe out an account fast. Start with low leverage (like 1:10 or less) until you're consistently profitable. Ignoring Risk Management: Never risk more than 1-2% of your account on a single trade. Using stop-loss orders is non-negotiable. Emotional Trading: Revenge trading after a loss or getting greedy after a win destroys accounts. Stick to your strategy. Lack of Education: Many rush in without understanding basics like pips, spreads, and how news events impact prices. Unrealistic Expectations: Forex isn't a get-rich-quick scheme. It takes years to master.
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