mody.saied Posted May 27, 2011 Share Posted May 27, 2011 The kind of mistakes found in the financial markets are basically the same. But online, mistakes in forex are spoken of mostly. So what are they? 8 Quote Link to comment Share on other sites More sharing options...
bloger90 Posted May 27, 2011 Share Posted May 27, 2011 One majour mistake one might do is to trade against the trend. In forex it is very dangerous to trade against trend . Never trade against the trend unless there is a positive indication that trend might change. Quote Link to comment Share on other sites More sharing options...
boniez Posted June 10, 2011 Share Posted June 10, 2011 One majour mistake one might do is to trade against the trend. In forex it is very dangerous to trade against trend . Never trade against the trend unless there is a positive indication that trend might change. indeed all traders would be loss when trading against the trend direction. better to the direction of the trend, because if we are able to make friends with the trend. then the profits will continue to flow Quote Link to comment Share on other sites More sharing options...
standart Posted June 14, 2011 Share Posted June 14, 2011 another common mistake is use high lot when trading while they still don't have good trading system who can guide them to entry and exit. they also often use high lot while only have low initial deposit. Quote Link to comment Share on other sites More sharing options...
winning11 Posted June 15, 2011 Share Posted June 15, 2011 As an online trader, you have to remain calm and try to avoid hesitating. sometimes a real good chance only last less than a minute. just don't be too prudent sometimes. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted June 26, 2011 Share Posted June 26, 2011 @winning11 yes there is not so much opportunity to enter the trade in a day and we need to grab this and abot calm you saying the most important thing in forex because all time we need it otherwise there is great chance to loss here and also need patience . if all we have then have more chance to become success. Quote Link to comment Share on other sites More sharing options...
andry777 Posted July 5, 2011 Share Posted July 5, 2011 @Nikhil I am a little bit disagree with you. Actuall, there are many opportunity in trading to get some profits. All condition could be profitable if you knew how to analyze the market well. Many people think if the chances to get profits in forex is only in the evening, or in the night, etc but they didn't realize if all conditions could be profitable or not that will depend on our decision to make. Quote Link to comment Share on other sites More sharing options...
winning11 Posted July 6, 2011 Share Posted July 6, 2011 @Nikhil I am a little bit disagree with you. Actuall, there are many opportunity in trading to get some profits. All condition could be profitable if you knew how to analyze the market well. Many people think if the chances to get profits in forex is only in the evening, or in the night, etc but they didn't realize if all conditions could be profitable or not that will depend on our decision to make. Theoretically speaking, every moment is chance to trade. Ideally if one can perdict correctly all the movements of price, he will profit continuously and greatly. The opportunities are always there. The only problem is to pinpoint them. Such ability is what differs a expert from a newbie. Quote Link to comment Share on other sites More sharing options...
andry777 Posted July 26, 2011 Share Posted July 26, 2011 @winning Yes, that was right.Theoricitally, all conditions could be profitable for us if we knew how to trade well in that condition. Good decision to open or close position will make differences on trading. But many traders think that good condition is only happening in certain time only, they didn't realize if good analysis will be more determining to find out good chances in any condition in the market. Quote Link to comment Share on other sites More sharing options...
mohammadbadr Posted July 26, 2011 Share Posted July 26, 2011 one of the common mistakes traders fall in is not calculating the stop loss before entering the trade, i.e many traders do not put a strategy of what will happen if price reversed its direction and moved against our predicted way, they hope they will win only, while they should predicts loss before profit to be able to deal with it if it happened. Quote Link to comment Share on other sites More sharing options...
hyipreviewblog Posted July 27, 2011 Share Posted July 27, 2011 Many novice traders just open position without put some stop loss so when market goes wrong way they still wait and wait until they lose all money. It is better we lose some than lose all. If we lose 10% of our principal we still have 90% to gain it back. So stop loss is the best option to prevent traders from MC. Quote Link to comment Share on other sites More sharing options...
winzpc Posted August 1, 2011 Share Posted August 1, 2011 Mistake i always do is not following my rule to trade and trading strategy. I always want to open a position to make a profit, then sometimes the price doesn't meet my full criteria to open position, I will take it because I thought that why I can make a trade in this day. I like to open position everyday because I want to raise my account and it cause me to impatience in my trading then not follow my rule or trading strategy in opening a position. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 12, 2011 Share Posted September 12, 2011 The most drastic mistake a trader do is to take a position without any analysis and at the same time by not placing any Stop Loss whatsoever. Doind this can only risk the traders initial investment amount to be blown up as well. Quote Link to comment Share on other sites More sharing options...
budado Posted September 13, 2011 Share Posted September 13, 2011 Not knowing when to buy and when to sell is the worse mistake a trader can do. Since forex trading is not gambling. You must do lots of research. You must first try to find the best price to buy and to sell before even try to make a single trade. In this way you can earn lots of money if you know when to buy before buying and when to sell before selling. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 13, 2011 Share Posted September 13, 2011 Not knowing when to buy and when to sell is the worse mistake a trader can do. Since forex trading is not gambling. You must do lots of research. You must first try to find the best price to buy and to sell before even try to make a single trade. In this way you can earn lots of money if you know when to buy before buying and when to sell before selling. Well, traders who don't know when to enter into the market shouyld probably learn trading in Forex first rather then start trading right away with real money. Technical and fundamental study becomes important whe a trader wants to trade in Forex. Technical analysis can be used to enter markets at best positions. Quote Link to comment Share on other sites More sharing options...
budado Posted November 3, 2011 Share Posted November 3, 2011 Well, traders who don't know when to enter into the market shouyld probably learn trading in Forex first rather then start trading right away with real money. Technical and fundamental study becomes important whe a trader wants to trade in Forex. Technical analysis can be used to enter markets at best positions. I do agree. If you are on day trading and even in weekly trading 90% of the time its good to use technical analysis but if you are long trader its more on fundamental analysis. But the one that I don't understand are people who say they use fundamental analysis for day trading. I mean chance are the result of fundamental from yesterday, today and tomorrow are almost the same. Unlike technical analysis that chance every 15 minutes or what ever interval that you use. Quote Link to comment Share on other sites More sharing options...
mohammadbadr Posted November 6, 2011 Share Posted November 6, 2011 From my trading time and experience, most traders do not have (for sorry) a plan B, or a plan regarding what to do if their entered trade failed, so they get troubled when this happen, and may increase their entry with huge lots without good money management and detection of the probable risk, this leads them to loss for sure. Quote Link to comment Share on other sites More sharing options...
budado Posted November 20, 2011 Share Posted November 20, 2011 From my trading time and experience, most traders do not have (for sorry) a plan B, or a plan regarding what to do if their entered trade failed, so they get troubled when this happen, and may increase their entry with huge lots without good money management and detection of the probable risk, this leads them to loss for sure. From your trading time and experience? Do does it mean that the person's you mentioned above about most traders are actually you? Me. I never invested in forex without a plan. But sad to say I still loss money in first few months of my trading. I did every thing right except timing. Quote Link to comment Share on other sites More sharing options...
senger Posted December 6, 2011 Share Posted December 6, 2011 The great mistake committed by the novice trader is to enter the world of Forex without learning and without the application at the expense of demo Quote Link to comment Share on other sites More sharing options...
budado Posted December 26, 2011 Share Posted December 26, 2011 The great mistake committed by the novice trader is to enter the world of Forex without learning and without the application at the expense of demo From mistake we learn. Yes they loss money, yes they don't do their homework. But once you loss money in forex trading its either you give up or take it as a challenge. this is where the wannabe and the serious trader evolve. If you give up and blame every thing else your just a wannabe know every thing learn nothing type of person. But if you are serious you sit down study and trade to earn. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted January 4, 2012 Share Posted January 4, 2012 Yup. Skipping demo accounts and not having fundamentals of forex how the market behave all of those will be a big no no to the newbies. Trying to be advanced without learning something in forex will definitely giving losses as always. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 5, 2012 Share Posted January 5, 2012 The first mistake that a trader will commit is to be over-confident. There will always be people who will think highly of themselves and plunge directly to trading without the benefit of learning even the simple or basic terms in forex. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted January 10, 2012 Share Posted January 10, 2012 It is okay to be confident but not overconfident because being confident will play an important role! as when you are confident you believe in yourself that you can do better! But an overcofident might lead to unrealistic expectation! ^^, Quote Link to comment Share on other sites More sharing options...
pinoycity Posted January 13, 2012 Share Posted January 13, 2012 Indeed, being confident is very important as it will make you overcome the negative emotions you need to control when trading forex. Emotions like impatience can get canceled out if you are confident enough. Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 29, 2012 Share Posted March 29, 2012 A trader is like to male a mistake in picking the right broker for forex trading. It is important to note that if a trader does not carefully take time in looking at a number of factors like regulation, trading conditions, fund transfers and a host of other factors, the trader might pick a broker that is not appropriate. Quote Link to comment Share on other sites More sharing options...
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