#TradingMistakes101 The most serious mistake in trading is entering without a clear plan. Many chase quick gains, thus becoming victims of emotion and greed. Common mistakes include: ignoring risk management, not setting a stop-loss, and trading based on rumors. Remember that patience and discipline are the keys to success. Do not trade with money you cannot afford to lose, and note each transaction to learn from your experiences. Trading is a science and an art, not a game of chance.