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Basic mistake we make

Tuxedo888
Nov 17 2021 at 21:41
posts 65
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.

Suradi (FXOday)
Nov 17 2021 at 23:11
posts 284
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.

AndrewMcCalam54
Nov 18 2021 at 09:48
posts 104
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

winning_trades
Nov 18 2021 at 10:53
posts 48
Forget to apply SL and TP.

Jungle78
Nov 18 2021 at 11:48
posts 103
Moving onto live trading without spending enough time on demo.
At least 6 months on demo thats a minimum in my opinion

cranberrythekid
Nov 18 2021 at 11:56
posts 9
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

Treeny
Nov 18 2021 at 18:39
posts 211
Yes, demo first until you are making money there. No point going live if you can't beat a demo account

SteveHanks
Nov 21 2021 at 19:13
posts 536
Most traders try to trade in this market without proper knowledge and skills.

pipham
Nov 23 2021 at 05:03
posts 53
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.

blixtpiece
Nov 26 2021 at 07:10
posts 37
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.

Chelsea Blacks (blackChelsea)
Nov 26 2021 at 08:01
posts 125
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.

CraigMcG2020
Nov 26 2021 at 08:17
posts 296
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

skihav
Nov 26 2021 at 13:13
posts 801
Errors are normal for a trader. It is more important to control that the trader does an analysis of the mistakes made.

RobertFerrari
Nov 30 2021 at 17:52
posts 371
skihav posted:
Errors are normal for a trader. It is more important to control that the trader does an analysis of the mistakes made.

Yes. you are right. Making mistakes in this market is a common thing.

LucianVince
Dec 07 2021 at 06:06
posts 34
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.

KevinRosario
Dec 07 2021 at 09:51
posts 4
As a newbie in forex, I would like to know what are the basic and most common mistakes made by beginner live traders and how to avoid those mistakes?

CraigMcG2020
Dec 07 2021 at 14:56
posts 296
RobertFerrari posted:
skihav posted:
Errors are normal for a trader. It is more important to control that the trader does an analysis of the mistakes made.

Yes. you are right. Making mistakes in this market is a common thing.


It really is in fact its a necessity in trading as we all should work from probabilities and lie within the range of the law of large numbers. If everyone normalised losses it would be so much better for all starting trading

romanholiday
Dec 07 2021 at 16:22
posts 9
What do you mean by normalizing losses? Do you mean accepting that losses happen?

UweMoench
Dec 08 2021 at 13:31
posts 751
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.

Akasuki
Dec 08 2021 at 15:18
posts 500
@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.

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