Basic mistake we make

Feb 12, 2021 at 11:29
6,044 Views
148 Replies
Member Since Jul 19, 2020   298 posts
Feb 12, 2021 at 11:29
I find that one of the basic mistakes of new traders is their focus only on earning money. It is better in the beginning that your focus is on learning and gaining necessary experience in order to make one profitable strategy, then on simply chasing profits.
Member Since Jul 19, 2020   751 posts
Feb 12, 2021 at 12:03
Biggest mistake is not making anything good from that matter and how do you plan to go further in life with that matter out there. I am totally and completely disrespected will be by such decisions, that's why I am always looking for some improvement ways on that.
Member Since Dec 28, 2020   25 posts
Feb 13, 2021 at 20:07
In order not to make the mistakes of beginners, a trader must have a personal strategy and plan. You should always know what to do, even in unusual situations.
Member Since Jul 20, 2020   298 posts
Feb 24, 2021 at 14:33
It is never possible to make a consistent profit without learning to trade. Trading education is needed to develop skills.
Member Since Feb 07, 2015   25 posts
Feb 24, 2021 at 15:49
Michihito posted:
I find that one of the basic mistakes of new traders is their focus only on earning money. It is better in the beginning that your focus is on learning and gaining necessary experience in order to make one profitable strategy, then on simply chasing profits.
Great advice, I think a lot of people neglect using demo accounts - that's always a good place to keep practicing and honing your strategy.
Sam.peters@
Member Since Dec 11, 2020   110 posts
Feb 25, 2021 at 07:20
Basic mistake that we can make is not understanding the concept of forex trading and simply trading without thinking of consequence of not using stop loss or limiting the order
Member Since Jul 27, 2020   81 posts
Feb 25, 2021 at 08:26
Trading at random will not bring any result, here you need to clearly calculate and prepare everything.
Member Since Sep 12, 2017   238 posts
Feb 25, 2021 at 08:28
The most generic mistake we do is greed..running after money and not thinking of the circumstances
Member Since Jul 23, 2020   759 posts
Feb 25, 2021 at 17:36
Beagelv posted:
Trading at random will not bring any result, here you need to clearly calculate and prepare everything.
True. Proper planning and strategy are needed for success.
Member Since Jul 19, 2020   788 posts
Feb 26, 2021 at 02:47
There are many complications to trading forex. Money management and a proper trading plan are needed to protect the investment from these complications.
Member Since Dec 28, 2020   187 posts
Mar 02, 2021 at 08:12
Biggest mistake that I have noticed is that new traders are focused on making money. They want to make money in a shortcut way, new traders don’t want to learn and don’t have any control on emotions.
Member Since Jul 03, 2020   37 posts
Mar 02, 2021 at 12:52
It is fair for all the beginners to think of earning money because the majority of traders who enter the forex market want to earn instead of learning.
Member Since Jan 22, 2021   125 posts
Mar 02, 2021 at 16:01
We think that each trade we are making will bring us more profit. This is the biggest mistake. Over optimistic outlook can ruin your trades sometime.
Member Since Sep 23, 2020   42 posts
Mar 03, 2021 at 11:13
blackChelsea posted:
We think that each trade we are making will bring us more profit. This is the biggest mistake. Over optimistic outlook can ruin your trades sometime.
Yeah expectations mate! Most of us expect too much from forex. Gotta be realistic.
Member Since Jul 19, 2020   751 posts
Mar 23, 2021 at 13:17
One of the mistakes a trader would make in Forex is trying too hard to recover losses. While everyone would want to minimize the effect of losses on their trade, sometimes, it pays more to always overcome that early emotional anxiety to recover whatever losses we may have incurred. This helps us think well, re analyze the market before entering.
Member Since Feb 16, 2019   30 posts
Mar 26, 2021 at 11:45
Michihito posted:
I find that one of the basic mistakes of new traders is their focus only on earning money. It is better in the beginning that your focus is on learning and gaining necessary experience in order to make one profitable strategy, then on simply chasing profits.
yes being emotional about it
Member Since Jul 23, 2020   869 posts
Mar 27, 2021 at 13:01
UweMoench posted:
One of the mistakes a trader would make in Forex is trying too hard to recover losses. While everyone would want to minimize the effect of losses on their trade, sometimes, it pays more to always overcome that early emotional anxiety to recover whatever losses we may have incurred. This helps us think well, re analyze the market before entering.
It is completely true. If you want to recover your loss, try with the trading plan not just with emotion.
Member Since Jul 20, 2020   399 posts
Mar 27, 2021 at 14:30
Yes for sure. Losses are a part of the process so they should not effect you. Thats the skill and it will come with experience.
Member Since Jun 26, 2020   327 posts
Mar 28, 2021 at 07:28
generally we the traders do same common mistake and it occurs at all times , i always fall a great trouble when using high leverage , it my common mistake from a new Forex trader.
Member Since Jul 11, 2020   17 posts
Oct 06, 2021 at 19:53
Surely, the newbies should concentrate on learning instead of earning the money. Only after learning the fundamentals of trading can you think of making the money. If you chase for the high profits right after you created your first trading account. In this situation the newbies are sure to lose their deposit.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.