Basic mistake we make

Feb 12, 2021 at 11:29
6,325 Angesehen
148 Replies
Mitglied seit Apr 14, 2022   16 Posts
Apr 26, 2022 at 06:28
The most common error we make is blindly following others. We are easily influenced and then act without giving it any thought. This is the biggest blunder we can ever make.
We frequently neglect to plan or disregard it as an essential step. Remember that if you don't plan ahead of time, you're going to fail. So establish a strategy, make a plan, and reap the rewards.
Mitglied seit Apr 18, 2022   51 Posts
May 02, 2022 at 12:09

The basic blunder most beginners make is to start trading right away with little knowledge about forex. Which is not the right way! Firstly be persistent with a demo account practice and keep learning about the different trading indicators and market news.
Mitglied seit Mar 07, 2022   10 Posts
May 02, 2022 at 12:33
Eloise posted:

The basic blunder most beginners make is to start trading right away with little knowledge about forex. Which is not the right way! Firstly be persistent with a demo account practice and keep learning about the different trading indicators and market news.


such a common mistake. new trader just don't realize how hard trading is and how fast they can lose all their money
Mitglied seit Aug 10, 2021   178 Posts
May 04, 2022 at 01:24
Beginners often do not use trading tools in their trading, whereas trading tools are very important, as a stop loss, take profit, and pending order are very important, and often new traders are not properly using them in their trading, which is a very big mistake in my opinion.
Mitglied seit Apr 14, 2022   41 Posts
May 07, 2022 at 06:15
Becoming too emotional about money and not understanding the market properly are the most common mistakes traders make.
Mitglied seit Mar 28, 2021   617 Posts
May 07, 2022 at 06:46
terylewasia posted:
Keeping the focus on money is not something newbies should do. They should stick to their trading plan.

If you do a deep analysis, surely you will find not a single trader who can deny the importance of demo account. Demo helps a trader develop his basement. But, it’s fully worse for a trader when he or she avoids trading in a demo account. Traders have to be very much tricky and these tricks can be learned by using demo account.
Mitglied seit Jul 20, 2020   399 Posts
May 07, 2022 at 14:13
Akasuki posted:
terylewasia posted:
Keeping the focus on money is not something newbies should do. They should stick to their trading plan.

If you do a deep analysis, surely you will find not a single trader who can deny the importance of demo account. Demo helps a trader develop his basement. But, it’s fully worse for a trader when he or she avoids trading in a demo account. Traders have to be very much tricky and these tricks can be learned by using demo account.

There is definitely true. Each trader needs to utilise demo in its own way. It allows to trade any mistakes you are making and also to test new strategies. Anyone that doesnt just use it is missing a trick
Mitglied seit Apr 03, 2021   470 Posts
May 08, 2022 at 22:38
Maybe not all trader likes to work in a demo account because less emotional pressure, but when trading in a real account lack discipline, how to develop good mindset as trader need to understand their own selves, the mistake is not something that must to scary, but mistake may give us a valuable lesson if we take care with this mistake, next will be a concern and trying to avoid the same mistake repeated again.
Mitglied seit Mar 24, 2022   56 Posts
May 09, 2022 at 03:47
True, new traders do focus solely on earning profits as fast as they can and forget about acquiring proper knowledge of the market and just enter it blindly.
Mitglied seit Sep 24, 2019   23 Posts
Aug 14, 2022 at 17:26
Rejigger posted:
Basic mistakes made by traders is that they focus more on earning early profits rather than gathering in-depth knowledge first. Also, traders keep unrealistic expectations thinking they’ll earn profit in every trade that eventually does not match with the ground reality and they lose all of their money. Also, not using stop loss and proper risk management are the common mistakes traders make.
you're right, let me explain my position on this matter..

first of all, mistakes are mandatory in the development of a trader, because unfortunately, only due to mistakes we learn and gain knowledge as you have noted. Deep understand of basic mistakes and the ability to avoid them form a good vision in trading activity. I believe if there would be no mistakes, traders would never be able to gain experience and knowledge.

secondly, I'd note that there are some traders who are successful ones and they have never made mistakes. i dunno know how is it possible, but i have some friends who earn constistenly in trading without any mistakes. at least, they had mistakes but not those ones which might lead them to losses.

thirdly, as for the risk management and stop loss, then also there are some top investors who intuitively know when to close the trade, even if the price goes down when they have opened a bullish position. so, here everything is individual, that's my vision.
Mitglied seit Aug 08, 2022   20 Posts
Aug 19, 2022 at 12:05
It’s true that every new trader here is to make money by hook or crook. They realise the hardships of a trader only after they spend some time in the market. But that’s absolutely fine because what matters in the end is that you have learnt and got better.
Mitglied seit Aug 02, 2022   22 Posts
Aug 22, 2022 at 11:03
That’s true. We should enter the forex market with realistic and attainable goals with a long term plan as a beginner. Because it takes time to learn and become a consistently profitable trader. And one of the biggest mistakes that new traders make is not investing enough time into learning and practice. They just rush into live trading in order to make quick profits, which is not really possible until you gain enough knowledge and develop your skills as a forex trader.
Mitglied seit Aug 17, 2022   45 Posts
Aug 22, 2022 at 11:37
In my perspective the common mistakes new traders make is that they trade without a proper trading plan. Sometimes they consider trade as a guessing game to make quick profit as fast as they can. But trade is not a guessing game, it is more complex in nature.

Mitglied seit Aug 19, 2021   237 Posts
Aug 22, 2022 at 13:52
Oh the basic mistake of all tradrs is arrogance. This is the moment when you consider yourself tricker, better and smarter than the market and other traders. It usually ends badly.
Mitglied seit Apr 03, 2021   470 Posts
Aug 23, 2022 at 01:16
Basic mistakie in trading like as fear of missing out, greedy in trading, overconfidence and feeling we make perfect analysis, trading forex need to follow the market and not follow emotion
Mitglied seit Aug 17, 2022   39 Posts
Aug 24, 2022 at 04:29
Basic mistakes are mostly like indulging in over-trading, moving ahead without proper trade plans, not using stop loss, going beyond their affordability to lose and many more.
Mitglied seit Oct 19, 2021   18 Posts
Aug 24, 2022 at 12:17
Most traders lose money due to a lack of knowledge and skills.
Mitglied seit Jun 02, 2022   32 Posts
Aug 26, 2022 at 07:20
True! This leads to trade Without a plan. Traders then are more likely to make impulsive decisions based on hunches or gut feel, rather than following a defined strategy. This can lead to losses, as well as missed opportunities when the market moves in the opposite direction to what was expected.
Mitglied seit Aug 08, 2022   19 Posts
Aug 26, 2022 at 09:38
The most common mistake we traders make is underestimating the value of education and experience. Newcomers frequently underestimate this factor and lose in the market.
Mitglied seit Feb 15, 2022   183 Posts
Aug 26, 2022 at 10:43
Avoid trading while the market is volatile. Sometimes the market remains highly volatile and traders should remain abstain from trading during high market volatility.
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