Number one biggest mistake

Nov 29, 2020 at 14:42
1,797 Views
30 Replies
Member Since Aug 10, 2021   178 posts
Oct 14, 2021 at 01:49
Most of the new traders come within trading and only wants to earn money but they have no knowledge and skills. So before start always learn about forex and after it, you can make good money.
Member Since Jul 07, 2015   2 posts
Oct 14, 2021 at 04:15
What 'skill' do you think is important to learn in order to make money in FOREX ?
Member Since Jul 07, 2015   2 posts
Oct 14, 2021 at 04:16
Tradextol posted:
Nuadahuginn posted:
The first thing a newbie should do before trading seriously is to learn the fundamentals of not only trading but also of economics. It is necessary to have at least wide knowledge about all the economic stuff like demand and supply, price, interest rates, etc. This will help you a lot.
This makes so much sense. Knowing economics is very necessary especially in forex, because the entire market is dependent upon how one country’s economy works. Many people tend to ignore it but in reality the knowledge of economics differs an excellent trader from an average trader.

Ok, what and where to learn this things ?
Member Since Jul 03, 2021   18 posts
Oct 14, 2021 at 04:43
The top level mistake of every trader is start trading with half knowledge.
Member Since Jun 21, 2021   24 posts
Oct 14, 2021 at 08:24
One of the major mistakes is to trade with emotions.
Member Since May 27, 2021   57 posts
Oct 14, 2021 at 08:37
Michihito posted:
Number one biggest mistake new trade do is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
I agree with you, new traders often come into the forex market considering it a quick money making machine due to which they do over trading and put themselves in risks.
Member Since Apr 09, 2019   538 posts
Oct 14, 2021 at 11:52
Biggest mistake I made early on was the same most make I think - trying to make it pay me before I had a clue what I was doing!
If you can't spot the liquidity then you are the liquidity.
Member Since Jun 17, 2021   46 posts
Oct 16, 2021 at 07:30
Beginners in forex trading often make the same mistake of not getting the proper education before trading. Trading without a proper education is a very dangerous thing to do and can cause you some serious damage.
Member Since Jun 16, 2020   57 posts
Oct 26, 2021 at 10:50
araventhan posted:
Tradextol posted:
Nuadahuginn posted:
The first thing a newbie should do before trading seriously is to learn the fundamentals of not only trading but also of economics. It is necessary to have at least wide knowledge about all the economic stuff like demand and supply, price, interest rates, etc. This will help you a lot.
This makes so much sense. Knowing economics is very necessary especially in forex, because the entire market is dependent upon how one country’s economy works. Many people tend to ignore it but in reality the knowledge of economics differs an excellent trader from an average trader.

Ok, what and where to learn this things ?

You can get a bunch of relevant information online. Just search about the topic on Google. Youtube is another platform where you can get videos related to the topic. I hope it will help you.
Member Since Jun 14, 2021   53 posts
Oct 27, 2021 at 03:55
The number one biggest mistake people make when starting out is thinking that it's a get rich quick scheme, that you can put in $100 and come out as $1000. Forex is a long-term game, it takes time to see results, and only the most dedicated traders will succeed.
Member Since Jul 19, 2020   751 posts
Nov 04, 2021 at 14:59
@marindateal Yes most people treat it like it's a quick money scheme. But it's not what they think. You can make more than any other business but that doesn't mean it has to be within 1 month.
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