Basic mistake we make

Feb 12, 2021 at 11:29
5,772 Angesehen
148 Replies
Mitglied seit Aug 05, 2021   401 Posts
Nov 16, 2021 at 15:09
Best thing to do is focus on self-improvement and the money will follow.
Mitglied seit Mar 24, 2020   98 Posts
Nov 17, 2021 at 21:41
Best thing, sit on your hands, and watch the markets open and then close .day in and day out.

and watch and learn how the traders paint the candles on your screen.

forget indicators, there all Lagging.
Not Specified
Mitglied seit Apr 03, 2021   470 Posts
Nov 17, 2021 at 23:11
The most mistake often face I think is FOMO, fear of missing out, I am often trapped in such situations where actually I realize if the zone price is less good to open trades, but my mind cant stop desire to open trades, I just only talk to own selves, take a small risk no problem, but because it occurs many times, small risk even ends too big loss in accumulation.
Mitglied seit Jun 12, 2021   132 Posts
Nov 18, 2021 at 09:48
actually if we do same mistake again and again then we can call this attitude as a own choose , its my own opinion, please never take this anyone personally. thank you
Mitglied seit May 31, 2021   48 Posts
Nov 18, 2021 at 10:53
Forget to apply SL and TP.
Mitglied seit Feb 12, 2019   105 Posts
Nov 18, 2021 at 11:48
Moving onto live trading without spending enough time on demo.
At least 6 months on demo thats a minimum in my opinion
Mitglied seit Sep 01, 2021   9 Posts
Nov 18, 2021 at 11:56
Jungle78 posted:
Moving onto live trading without spending enough time on demo.
At least 6 months on demo thats a minimum in my opinion

I concur. This is the way to do it. So many move to live account from the start and just lose all their money
Mitglied seit Feb 08, 2019   213 Posts
Nov 18, 2021 at 18:39
Yes, demo first until you are making money there. No point going live if you can't beat a demo account
Mitglied seit Mar 17, 2021   536 Posts
Nov 21, 2021 at 19:13
Most traders try to trade in this market without proper knowledge and skills.
Mitglied seit Nov 03, 2021   53 Posts
Nov 23, 2021 at 05:03
The most basic mistake for a newcomer is keeping aside the learning process and chasing profits all the time. You will end up nowhere without a proper plan and a strategy to work fine for you. It will be a mistake to enter live trading without the basic knowledge, proper mental preparation, and enough practice on your demo account.
Mitglied seit Jan 22, 2021   125 Posts
Nov 26, 2021 at 08:01
blixtpiece posted:
The basic and common mistake committed is that we enter trading with the mindset of earning money fast which is not at all true. Trading demands time more than money, skills and experience more than knowledge.
This is so true, I have noticed that some joined forex trading in hoping to earn money fast, which obviously is an unhealthy mindset to consider.
Mitglied seit Jul 20, 2020   399 Posts
Nov 26, 2021 at 08:17
Tuxedo888 posted:
Best thing, sit on your hands, and watch the markets open and then close .day in and day out.

and watch and learn how the traders paint the candles on your screen.

forget indicators, there all Lagging.

Funny this is so key, in a round about way you are gaining experience. I think experience is the biggest thing as you get a feel for the market and you have watched so many candles paint that you can anticipate with your techincal knowledge the probability of the trade coming out in your favour
Mitglied seit Nov 23, 2021   34 Posts
Dec 07, 2021 at 06:06
That’s true. Traders need to treat forex as a long-term business. You can’t expect to get huge profits in a single day. We need to allot time in learning before expecting something in return.
Mitglied seit Sep 06, 2021   9 Posts
Dec 07, 2021 at 16:22
What do you mean by normalizing losses? Do you mean accepting that losses happen?
Mitglied seit Jul 19, 2020   751 Posts
Dec 08, 2021 at 13:31
Keeping a journal is a good way to minimize your mistkes. By looking at the journal we can find out our common mistkes that we can easily mend.
Mitglied seit Mar 28, 2021   617 Posts
Dec 08, 2021 at 15:18
@UweMoench Yes we can avoid basic mistakes by keeping a journal and following it. We always should learn from our mistakes. Best learners are those who learn from their mistakes.
Mitglied seit Sep 22, 2018   70 Posts
Dec 08, 2021 at 21:08
Quange posted:
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.
Deffiently need a plan /strategy and if they do there homework and research they should gain knowledge
Mitglied seit Nov 23, 2021   34 Posts
Dec 17, 2021 at 04:40
Chasing gains while not caring about preserving the profits made is one basic mistake that many of us make. We often don't realise that earning is not enough but we should also look for ways to save those profits. Else, every winning trade is in vain.
Mitglied seit Nov 23, 2021   24 Posts
Dec 20, 2021 at 05:55
Plan and strategy are two very important factors when it comes to forex trading. These are simple words, but they require a lot of knowledge and thought before action can be taken. Many people jump right into the market without a plan or a strategy, hoping to 'strike it rich.' This almost always leads to failure.
Mitglied seit Dec 05, 2020   81 Posts
Dec 20, 2021 at 06:55
Not understanding what you are making your order and missing out on using stop losses in your trades.
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