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Mistakes That Forex Traders Make


ellliottt

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I think that it would also depend on the trader themselves and the amount knowledge and experience that they do possess before they can make such a decision like how much they are willing to invest or use a trading capital. Obviously for beginner traders the less capital would do while they are getting accustomed to trading while experienced traders have more skills to take on the risk.

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Yea its better for the beginner trader to start with small capital because when start with a small capital you can as well grow your earning beyond your immagination and also try as much as you can and practice well and receive the right training that could help you to open and placed many good order

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  • 1 month later...

but i think the big mistake is trading with big lots like you have 1000 usd in your acount and trade with 10 standard lots when you lose 50 pips you will lose 500 usd

This can be true. It is like the trader does not realize about the strength of money in the account here. So, just keep doing the trade and like over confident here. This is not a good thing at all here for us if we do not think about this
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This can be true. It is like the trader does not realize about the strength of money in the account here. So, just keep doing the trade and like over confident here. This is not a good thing at all here for us if we do not think about this

know the when to stop or start is the best way in trade, set SL is one of the important way for every trader to give them limitation of their loss, one of the mistake that people always do is like you said, that is overconfidence, some people even greedy too, they cannot control and believe they will get profit from action that they take.

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Well, you can start off small and then move up the ladder when you see that there are some improvements then you can consider increasing your investments into forex gradually. Its not advisable to trade in forex in huge amounts when you are beginning because you are not properly equipped as yet.

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know the when to stop or start is the best way in trade, set SL is one of the important way for every trader to give them limitation of their loss, one of the mistake that people always do is like you said, that is overconfidence, some people even greedy too, they cannot control and believe they will get profit from action that they take.

Well, this is true, we can not say over confidence is such a good thing in forex trading here. No, and no way we can do over confidence here. Forex is very different with the real business here. We sometimes have to listen to other traders and people here. So, then we can make good money.

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Thinking that Forex is an easy source of money and starting to trade without learning much about Forex is the greatest mistake that people do. We should step into Forex trading only after we acquaint ourselves with its basics. we should learn about Forex and its various strategies before starting to trade.

 

Another thing to be careful while trading is to avoid greed. History has proved that greedy people who think Forex can easily multiply their money in a short time are severely punished. We should first ascertain our skill using a demo or contest account and considering it only we should decide or expect the returns.

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I guess that because of greed more and more people think that they have found ways to make money out of forex without having to go through all the necessary learning and practice. That they have somehow discovered shortcuts to making profitable profits in a short period but they get disappointed with the results.

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Well, this is true, we can not say over confidence is such a good thing in forex trading here. No, and no way we can do over confidence here. Forex is very different with the real business here. We sometimes have to listen to other traders and people here. So, then we can make good money.

actually real business is same, i mean the basic thing, overconfident is a thing that people need to avoid, but you must be confident if not you will miss many chance to trade, like what i said before, do analysis and learn from real account, spend too much time in demo account will give you knowledge but that make you lack the control of your emotion, and how it feels when you trade real money and trade under pressure :D

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in fact a lot of the mistakes made by the trader so that many of those who often experience a loss and they also never learned all the mistakes they have done and never tried to fix it and the main mistakes made ​​by traders stout is always taking risks great on every trade they do without having a very good calculation

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Well, you can start off small and then move up the ladder when you see that there are some improvements then you can consider increasing your investments into forex gradually. Its not advisable to trade in forex in huge amounts when you are beginning because you are not properly equipped as yet.

This is true, we have to start things with small first. Then if we can handle it, we can try to reach the BEP first here. Then it is better to add more money only from the profit money we earn. In this way here, we will not lose the money too much here. So, we will be in profit in total here. This is much better

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Well, it would be the mistake of the beginner indeed because they would not be able to achieve that goal under normal circumstances. There are beginner traders that have become lucky in their initial traders but they fail to sustain this so having this mindset will just lead to huge losses.

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As a beginner trader, who have attended to his/her training with all diligence, the thought of having a smooth ride in trading may be predominant in his/her mind, and so when the trader hits the rock consistently, he/she resorts to quiting. It must be clear in our minds that no matter how similar demo trading is to live trading, it is still VIRTUAL!

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The most common mistakes that newbie traders make is they will be getting into real trading with out a proper knowledge and finally they will be loosing there capital investment so it is always suggested to trade forex with good knowledge . And even expert traders will fail most of the times to control there emotions so we should eb very careful while trading .

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Or they are in rush of trading wherein they don't have smoothly knowledgeable in Forex and still lacking of experience which is important. Because, if they don't have seen yet the different market circumstances then, they will definitely fail in their trading as they don't know how to manage their trades in these situations and traders should not fail just because they ignored the proper way of trading.

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Well, it would be the mistake of the beginner indeed because they would not be able to achieve that goal under normal circumstances. There are beginner traders that have become lucky in their initial traders but they fail to sustain this so having this mindset will just lead to huge losses.

push themself too hard is something that few newbie do, i don't know are they overconfident or they just surrender with condition that happened to them. but it seems that push ourself too hard also become a bad thing, if we can control ourself then it will be better for us to trade

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There is no perfect trader can trade without making mistakes, including my self. Many mistakes were many I did, like not discipline with rule, can not control your emotions, greed, etc. Make evaluation is the best way to know what our mistake that we have done.

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  • 2 weeks later...

There is no perfect trader can trade without making mistakes, including my self. Many mistakes were many I did, like not discipline with rule, can not control your emotions, greed, etc. Make evaluation is the best way to know what our mistake that we have done.

that is right, with evaluation people will understand more about theirself and also their trading style, they can use demo account to do evaluation. aside from greed i think it is about discipline too. and i think there are few other reason and mistakes that many new traders make or even professional traders

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Trading with a big lot size is never good for sure so its a big risk that we are taking if trading with a big lots so the best option is for us to trade with small lots size this will help minimize the risk a bit

higher lot means higher profit while give us higher risk, and that is depend on the trader, will they choose to trade with lower lot amount or higher lot. but from my own few experience, there are some pro that still take lower amount(but in my eyes still big since i am a small trader), so they can minimize the risk when trade, and usually they said that is one of the mistake that some trader do

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