The Forex market, while offering potential rewards, is also fraught with pitfalls. Here are three common mistakes that can derail a trader's journey: Lack of a Trading Plan: Many traders dive into the market without a well-defined strategy. A robust trading plan outlines entry/exit rules, risk management parameters, and position sizing, providing a framework for disciplined decision-making. Emotional Trading: Fear, greed, and impatience often lead to impulsive trades and poor decision-making. Emotional trading can cause traders to deviate from their plan, overtrade, or hold onto losing positions for too long. Neglecting Risk Management: Underestimating risk is a critical error. Ignoring stop-loss orders, overleveraging positions, and failing to calculate appropriate position sizes can quickly erode trading capital. By recognizing these common pitfalls and implementing strategies to avoid them, traders can significantly improve their chances of success in the Forex market. #ForexRiskTips