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Basic mistake we make
Mitglied seit Jul 20, 2020
385 Posts
Nov 01, 2021 at 07:50
Salore posted:
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.
This is exactly it, even professional traders don't think about the money. They think about the process and the money is secondary. Trade well and you will make money as a consequence
Mitglied seit Apr 09, 2019
516 Posts
Nov 01, 2021 at 12:33
If it was as simple as showing up on day 1 and printing money we'd all be doing it. But we're not. I will always compare it to high paying skilled jobs. You have to be good at those skills and jobs before your salary matches.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Nov 01, 2021
9 Posts
Nov 01, 2021 at 13:25
forextrader777 posted:
Money automatically comes when we follow the right path to become a successful forex trader.
But what is the right path? Seems like no one has found it
Nov 02, 2021 at 18:34
I guess that there lots of mistakes which can be made in trading activity, whether by beginners or even by professionals. Professional traders are also people with their state of mind and trading style. Some of the mistakes are rushing, losing control over emotions after bad deals and other mistakes. The main distinguishing trait, which differs mistakes from novices from mistakes of professionals is that rookies always make fatal mistakes. They can be related actually in this case. I believe everybody has a right to make a mistake despite the fact of ecxperience, skills and knowledge actually.
Nov 05, 2021 at 13:06
@Smith2525 Yes it's cheaper to learn from other mistakes but in trading everyone's psychology is different. Your thinking process and my thinking process won't be the same. And vice versa.
Mitglied seit Feb 20, 2021
51 Posts
Nov 08, 2021 at 05:31
Beginners as well as experienced traders must keep in mind that money is secondary. One must focus on executing trades smartly and becoming a good trader. When we trade with the mindset of chasing money only, we often end up committing the worst possible mistakes like using high leverage and over-trading.
Nov 08, 2021 at 21:53
Fear of missing out is the most mistake committed among traders, the most trader that lack or weak psychology trading will often make such mistake when see the strong movement then chasing price due scaring if missing the chances, but then faced loss dragged because high volatile market will make up and down at short time,
Mitglied seit Aug 10, 2021
172 Posts
Nov 09, 2021 at 02:27
Probably the biggest mistake is when they keep trading with real money and end up losing since they don't know how to trade. The advice I give newbies is to always trade in a demo account before moving on to a real account, but it might be a waste of your time giving advice since chances are they'll ignore it. Because I spent time in the demo account first, I am earning a lot of money in the real account right now.
Mitglied seit Jun 19, 2020
38 Posts
Nov 09, 2021 at 04:10
I believe the biggest mistake we, as traders, make is that we rely too much on our strategies and forget to modify them when they're going against the market.
Mitglied seit Jun 21, 2021
21 Posts
Nov 09, 2021 at 04:49
One of the biggest mistakes according to me is that sometimes we believe too much in news and don't follow our own strategy.
Mitglied seit Jun 14, 2021
51 Posts
Nov 10, 2021 at 06:05
Not taking forex trading seriously! Like any other profession, forex trading requires time and practise. You can’t expect the market to make you a millionaire in 2-3 months. Study it first, and then expect something in return.
Nov 10, 2021 at 08:07
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.
The main objective of forex trading is earning money. However, trading is the toughest way to make easy money. A trader must work hard to learn trading and make money consistently out of it. If trading is not dealt accordingly, a trader is bound to make mistakes. These mistakes lead him towards having serious loss at the end.
Mitglied seit Oct 29, 2021
69 Posts
Nov 11, 2021 at 05:47
Learning will give new traders a great advantage. Even veteran traders continue to learn new things and advance their strategies.
Nov 11, 2021 at 08:15
There is no only one mistake in trading, there is a vast majority of mistakes which every trader once made in his trading career. The first one is rushing and fake hopes. All of the traders once had a situation when they wanted to rush the position in order to earn lots of money right away. It's prohibited in case you want to build a successful trading career, only wise approach is acceptible. The second mistake relates to usage of leverages. Some traders in the very beginning of their trading path decided to start off from leverage trading and they picked the highest leverage which is provided by the broker. It's a direct way to blowing of your account.
Mitglied seit Jan 22, 2021
126 Posts
Nov 11, 2021 at 11:56
Trading with presence of mind will never put you into the big losses.
Mitglied seit Jun 07, 2021
70 Posts
Nov 15, 2021 at 07:23
While there are numerous trading opportunities every day, but then taking too many positions in one day may also be detrimental to your trading.
