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UweMoench posted: Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.
Dwane47 posted: In my opinion, trading without a strategy and with a mindset only to earn a profit during the beginner stage is the most common mistake I have seen so far.
I very much agree with you. Some of the newbies enter the trading world and the moment they get profit, they start investing their everything in the trading market. I don’t know why they don’t use any method like backtesting, so that there are less losses.
@Georgegiffen43 No knowledge of strategies can be a genuine reason for all the beginners out there. Or, maybe their strategies are not working. One should be careful about getting a transparent broker so that they can keep up with the market with real time data and fair prices. Like, I analyze all the trading market fluctuations and price movements through etoro and fxview. That’s why I don’t end up making wrong decisions and end up investing where I can get profits. I think beginners should research before entering the trading market.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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