My number one mistake is a very terrible lack of patience and that’s what I demonstrate on a demo account. A cold sweat goes all over me once I imagine that I could do the same on a real account. I think I need to practice more. It’s too early for me to trade real money.
Mistakes are common in Forex trading but my suggestion is to you not to stick to mistaking. People cannot prosper in Forex trading because they never try to get out of their mistakes. Traders should upgrade their trading on a regular basis so that no loss can shackle them.
Apr 14 at 01:37
Prior to entering any market, a trader must know on what basis they plan to open and close their positions, based on all of that they follow a certain system. A clear trading plan is essential to help traders focus on their system and eliminate random guessing. Install stop loss orders to reduce losses. It's important to remember that the market may not always follow your trading direction.
Occurring mistakes are a common phenomenon in Forex trading. Whatever the market condition is, traders should retain their patience level and no need to hasten to taking an entry. If a trade hits SL, it not only hits hard the capital but also the confidence level. Traders should use low lot so that if any SL is hit, it doesn’t depress them.
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