Advertisement
Basic mistake we make
Member Since Nov 06, 2018
81 posts
Mar 23, 2022 at 09:29
Michihito posted:
I find that one of the basic mistakes of new traders is their focus only on earning money. It is better in the beginning that your focus is on learning and gaining necessary experience in order to make one profitable strategy, then on simply chasing profits.
Exactly, most people do focus on the money aspect. But unfortunately as people focus on this, this is why most people fail.
Member Since Sep 03, 2021
9 posts
Mar 28, 2022 at 11:25
The most common mistake is to not use any risk management plan. Newbies often use too large Lot size, no stop loss and generally over trade
Member Since Mar 27, 2022
1 posts
Apr 02, 2022 at 22:13
Psychological mistakes are a rather difficult group of mistakes to correct, but mastering your own emotions is an obligatory step that any trader must go through. Why are there a lot of people losing money there?
And often, the answer lies precisely in psychological aspects: trading is largely contra-psychological, so one's psychological attitudes, developed over centuries of evolution, have to be changed somewhat.
It is necessary to be able to count the benefits, search for free crypto instantly and not pay attention to failures. The main thing is to go forward methodically, constantly gaining positive or negative experiences.
And often, the answer lies precisely in psychological aspects: trading is largely contra-psychological, so one's psychological attitudes, developed over centuries of evolution, have to be changed somewhat.
It is necessary to be able to count the benefits, search for free crypto instantly and not pay attention to failures. The main thing is to go forward methodically, constantly gaining positive or negative experiences.
Member Since May 19, 2020
321 posts
Apr 06, 2022 at 13:10
The mistakes that have already been discussed a million times and that are written in every book are not mistakes, these are neglect.
@Marcellus8610
Apr 06, 2022 at 22:45
Sometimes traders although they know and understand if they do it will become a mistake, but still like to repeat the same mistake over and over again, fear of missing out included the common mistake because tempted by the price movement that seems very confident to take profit
Member Since Aug 10, 2021
172 posts
Apr 07, 2022 at 01:48
Traders fail in more trades than they can ever count. These trades tend to occur at the beginning of their careers. They have no idea why they are losing money, and they don't know much about it. Their losses are only seen as monetary losses, but no lessons are learned. We cannot expect it to happen in a month, but we can hope for the best. You will fail most of the time, but don't give up. This is a way beginners and the professionals in Forex market have learned their trading.
Member Since Jul 23, 2020
816 posts
Apr 07, 2022 at 06:08
The cardinal step a trader should follow is to get rid of all the basic mistakes. Over and over mistakes work as an impediment to trading. But traders are less willing to solve this issue rather they prefer trading with high leverage in the expectation to gaining more and more.
Member Since Jun 12, 2021
132 posts
Apr 07, 2022 at 09:30
the basic mistake is very common , traders think there is a chance to bring profit very rapidly from there with no learning.
Member Since Jul 23, 2020
816 posts
Apr 08, 2022 at 05:16
Traders are accustomed to some basic mistakes and traders can’t see their success as long as they can’t get out of those mistakes. Traders should try hard and soul to get themselves out of those mistakes. These basic mistakes work as a barrier to their profit-making. So, to become consistent in profit making, a trader should focus on recovering their mistakes.
Apr 12, 2022 at 10:00
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.
Member Since Jul 23, 2020
816 posts
Apr 13, 2022 at 05:08
The first mistake that traders frequently do is they enhance their lot size without any reason just to gain much profit. Secondly, they don’t give time to identify the right trend as a result they make wrong entry most of the times. Thirdly they love to trade again and again which is not fair indeed.
Apr 14, 2022 at 03:59
Basic development is high necessary for traders. For developing basic, most of the traders rely on pais courses but I don’t appreciate it. Because online resources for learning us available now. Don’t indulge with emotion while trading because it breaks a trader down mentally. You have to conquer your fear to push your trading ahead.
Member Since May 27, 2021
56 posts
Apr 14, 2022 at 04:05
The basic mistake traders make is letting their greed and fear overpower their skills.
Apr 15, 2022 at 04:28
In my opinion, the biggest mistake traders make is that they focus on the results rather than learning & gaining experience. They start trading with insufficient knowledge and research and then fall into losses. Another big mistake the traders make is that they are not consistent in the strategy that suits them the best and they get impatient and greedy. To be a successful trader, a proper strategy, money & risk management, proper research & analysis, and emotion management are very crucial.
Apr 15, 2022 at 05:55
Mistake in learning is something useful, sometimes to find a great trading system need to make trial and error, the mistake is a common thing and a trader need to learn from the mistake and then minimize their mistake and not repeat the same mistake, and how to make better trading skill, recognized the mistake can giving the valuable lesson, whether the mistake comes from own selves like as greedy, over trading or from outside like as fail connection, etc.
Member Since Jul 20, 2020
385 posts
Apr 19, 2022 at 09:49
saluteband posted:
The biggest mistake a trader would do is to ignore the basic concepts and principles of forex trading. While focusing more on earning profits, One should not forget that in order to be a successful trader, it is very important to have a good knowledge when it comes to forex trading.
The best way to put it is to focus on the process not the outcome. It is so key to focus on step 1-5 of your trading plan and let the outcome unfold
Member Since Apr 14, 2022
40 posts
Apr 19, 2022 at 10:25
The basic mistake made by new traders is that they mainly focus on earning more money which is why they start their trading with a good amount of capital and ultimately end up losing that money because of a lack of knowledge about forex trading. So it is advised that they should first make a demo account and then explore it well. So that when they are ready to trade on a live platform, then they can start with small funds so that the chances of risk involved can be bearable.
Member Since Apr 14, 2022
32 posts
Apr 22, 2022 at 11:07
The basic mistake that the newcomers make is that they think that is the platform where you can earn easy money. They simply start trading on the real account. Even though they earn money at the start when they start losing they cannot handle the pressure and after having heavy losses, they leave the trading platform.
Member Since Apr 14, 2022
47 posts
Apr 25, 2022 at 10:02
In my opinion, the basic mistakes newbies usually make are-
1. Trading without a trading plan.
2. Going for live trading without practising on a demo account.
1. Trading without a trading plan.
2. Going for live trading without practising on a demo account.
