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Common mistakes

sharabela
Sep 03 2021 at 06:35
53 Posts
Trading a big lot is a problem. If a trader knows money management and follows it, then he cannot use bigger trading lot than the is supposed to. A single trade should not be having a risk more than 2% of the trading capital. If we follow this, then we will be able to hold us back from using too big a trading lot.

Akasuki
Sep 03 2021 at 14:17
441 Posts
@sharabela Trading big lot is one of the biggest problem among forex traders. They want to make quick money but they do not think they lose the money quickly as well.

Unellene
Sep 04 2021 at 15:43
283 Posts
common mistakes of all beginners are stupid hopes for a quick and easy profit, which really cannot be in forex, because for profit there is a lot to understand and learn

RobSchiz
Sep 04 2021 at 20:08
535 Posts
sharabela posted:
Trading a big lot is a problem. If a trader knows money management and follows it, then he cannot use bigger trading lot than the is supposed to. A single trade should not be having a risk more than 2% of the trading capital. If we follow this, then we will be able to hold us back from using too big a trading lot.

I agree with you.

croisssan
Sep 05 2021 at 09:12
642 Posts
In order not to make many mistakes on a real account, I try to work longer on a demo account.

Unellene
Sep 08 2021 at 13:34
283 Posts
the most common and initial mistake is the choice of a broker, often beginners fall into the hands of scammers, since advertising is very attractive for those with their tales

marcusobrien
Sep 13 2021 at 06:20
44 Posts
@Unellene Finally someone said it and you are absolutely right . Many newbies step into forex thinking it's a money making machine and every trade is going to make them a millionaire which is a solid dream that never comes true. I know how tough it is to make even a dollar in forex. Forex isn't a one day job, it requires a lot of dedication and commitment, which many fail to understand.

BrokerChoice (ChanKaiTai)
Sep 13 2021 at 10:32
43 Posts
marcusobrien posted:
@Unellene Finally someone said it and you are absolutely right . Many newbies step into forex thinking it's a money making machine and every trade is going to make them a millionaire which is a solid dream that never comes true. I know how tough it is to make even a dollar in forex. Forex isn't a one day job, it requires a lot of dedication and commitment, which many fail to understand.

Totally agree with you

pathsofglory
Sep 13 2021 at 11:22
8 Posts
marcusobrien posted:
@Unellene Finally someone said it and you are absolutely right . Many newbies step into forex thinking it's a money making machine and every trade is going to make them a millionaire which is a solid dream that never comes true. I know how tough it is to make even a dollar in forex. Forex isn't a one day job, it requires a lot of dedication and commitment, which many fail to understand.



Hit the nail on the head there. Forex is hard. FACT. New traders need to understand that before making their first deposit

croisssan
Sep 13 2021 at 13:29
642 Posts
As for me, the set of traders' mistakes is most often very similar. In addition, it very much depends on the level of experience and knowledge of the trader.

Predaktur
Sep 15 2021 at 19:32
14 Posts
The most dangerous mistake is to think that forex trading is all about making money right away. Such a misconception has led to the massive loss of budgets of such naive traders. So, in order to decrease the possibility of losing everything right away, you should forget the idea that you are able to make lots of money in a week.

Williamfreed
Sep 16 2021 at 05:39
89 Posts
Everyone wants to become a successful Forex trader, but few want to trade properly. Although Forex trading is challenging, making money in this market is possible since it is easy to invest money.

MasterMove
Sep 16 2021 at 08:22
24 Posts
According to me, overtrading and letting the emotions overpower the skills are the common mistakes that traders make.

skihav
Sep 16 2021 at 17:22
521 Posts
To avoid mistakes in this industry, you need to trivially work on your level of knowledge. For example, a demo account of the Amarkets broker turned out to be an excellent option for me.

Unellene
Sep 17 2021 at 11:02
283 Posts
any mistakes can be unique, the main thing is to find the right approach in your work, and do the right analysis of your actions

SteveHanks
Sep 18 2021 at 20:32
530 Posts
skihav posted:
To avoid mistakes in this industry, you need to trivially work on your level of knowledge. For example, a demo account of the Amarkets broker turned out to be an excellent option for me.

Make your mistakes as your learning things to become successful in this market.

BrokerChoice (ChanKaiTai)
Sep 20 2021 at 03:47
43 Posts
I agree trying demo account is good. But I would say trying a demo account in a broker cannot prove how legit the broker is

davemack
Sep 20 2021 at 07:01
38 Posts
It is important for a trader to analyze their strategies and learn from the mistakes they make. Forex is a wide market and there is always something to learn.

marcusobrien
Sep 20 2021 at 10:03
44 Posts
@BrokerChoice Thank you and i feel every trader should understand the complexity of the market, and not treat it as a childs play

marcusobrien
Sep 20 2021 at 10:08
44 Posts
@pathsofglory it's high time people should start taking forex trading as a serious business. Especially the new ones , they should follow the principles of trading and be very disciplined in every course of action.

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