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Unnecessary trade
Jan 12, 2021 at 13:43
1,151 Views
17 Replies
Jan 12, 2021 at 13:43
Unnecessary trade is a very common problem for newbies. Actually you do it out of confusion. You don't have trust on your strategy and yourself. You should have clear idea about your risk reward ratio and winning ratio. You lack confidence. It comes from not knowing what you are doing. Practice on demo find out your winning trade ratio. The main point is you have to increase your skills.
Member Since Nov 29, 2020
5 posts
Jan 12, 2021 at 19:53
I think you are right
Member Since Nov 24, 2020
14 posts
Jan 25, 2021 at 07:57
A lot of newbies think that overtrading would help them recover their losses. They must understand that nothing like that would ever happen. That’s what you learn with experience. The more experience you make, the better the trader you become.
Member Since Nov 26, 2020
14 posts
Feb 04, 2021 at 03:44
Yeah, they should be aware of when to enter and exit but then it also comes with some experience, so there is that.
Member Since Jul 23, 2020
816 posts
Feb 14, 2021 at 16:56
To avoid unnecessary trades, traders have to follow proper trading plan. Otherwise you may end up in losing side.
Feb 15, 2021 at 12:18
Loss is inevitable in forex trading but you shouldn't feel dejected like you have said,if you get dejected every time you loose,then it would come to a certain time that you would not want to invest in forex again but if you carry on and you don't let your loss to weigh you down,I am sure you will be able to trade many more.
Member Since Jul 20, 2020
286 posts
Feb 15, 2021 at 17:35
If you trade by force where there is no trade. But it will go beyond discipline and plan. So you have to survive by trading positively.
Feb 16, 2021 at 05:35
LeviSievwright5 posted:
If you trade by force where there is no trade. But it will go beyond discipline and plan. So you have to survive by trading positively.
I make it a point to never go against my plan, as much as possible. I guess that's too important to stay in the game.
Feb 16, 2021 at 10:38
Overtrading is dangerous. Sometimes people overtrade because they are getting profits back to back and sometimes its revenge trading, that is when you trade to overcome your losses. Please don’t let these two situations fool you as the market is very volatile and you cannot predict the market’s direction a 100%.
Member Since Nov 17, 2020
17 posts
Feb 17, 2021 at 07:53
jasonmark409 posted:MichaelEX posted:
Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.
Absolutely and I’ve seen that often traders make the mistake of opening lots of positions in greed or hope to hit the jackpot on some or all of their trades.
Lemme ask you something. Say hypothetically, you’re watching 20 currency pairs and that means just 20 candles to look at each day, how on earth could one expect to be in profit?
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