There are lot of common mistakes

There are many mistakes in trading but I should learn from these mistakes. When I make a loss in one trade, I gain that loss and use it in another trade.

LukeRachel posted:
There are many mistakes in trading but I should learn from these mistakes. When I make a loss in one trade, I gain that loss and use it in another trade.

This is the best option to learn. If you can learn from your past mistakes, you can easily become successful in this market.

Mistake is common for all kind of traders. But always try to learn from your mistake.

Michihito posted:
There are lot of common mistakes every trader do when they are new. I also did the same. Like opening trade position before big news events and after the news events. Opening too many lots is another mistakes. Risking more than 1% of the capital is also a mistake. Another big mistake is unrealistic expectation. We come here to make double, triple of our capital over night. But it's the biggest mistake one can have. We also make mistake in choosing broker.

Sometimes from the mistake, we can learn something then, and after understanding the mistake than trying to make new rules how to avoid the same mistake not repeated again, but sometimes the hard part is how to control our decision, fear missing out, become a common problem during the trading time, choosing broker indeed very important for a trader.

LyudmilLukanov posted:
Mistake is common for all kind of traders. But always try to learn from your mistake.

This! When you learn your mistake, you will grow and learn not to repeat the same mistakes.

SofieAndreasen posted:
New traders often start with real account without demo practice which is a big mistake.

This is why they give up in the middle without having the proper knowledge.

New traders think that it is easy and they can make money by looking at candle sticks. That is not the case and all those new trades with live accounts just lose all their money. Sad

highjumping posted:
New traders think that it is easy and they can make money by looking at candle sticks. That is not the case and all those new trades with live accounts just lose all their money. Sad

Newbies are always in hurry of getting big profits, I don't know what excite them so much but they should know that the riches outside are doing so hard on forex trading.

gradking posted:

highjumping posted:
New traders think that it is easy and they can make money by looking at candle sticks. That is not the case and all those new trades with live accounts just lose all their money. Sad

Newbies are always in hurry of getting big profits, I don't know what excite them so much but they should know that the riches outside are doing so hard on forex trading.

I agree most of the newbies lack patience and this is what leads them to losses.

The biggest common mistake, in my opinion, is not maintaining trade journal. If you'll not review your trades, then how can you learn from your losses?

One important difference between trading and going to the casino is that when you go out to gamble, you have a negative expected return. In other words, the house is always expected to win over the long run, on average. Trading , however, if done skillfully and artfully, can put you in the position of the house.

gradking posted:

highjumping posted:
New traders think that it is easy and they can make money by looking at candle sticks. That is not the case and all those new trades with live accounts just lose all their money. Sad

Newbies are always in hurry of getting big profits, I don't know what excite them so much but they should know that the riches outside are doing so hard on forex trading.

This is not a good habit actually, making a huge profit will leading them to take a high risk with greediness, what happens later usually not a profit that obtained but regrets already trading high-risk taker because the account does not last long will get margin call account.

I think the lavish life styles that most of the forex traders flaunt on socials leads to over trading on forex by beginners.

One of the most common mistakes in trading that gives loss is over-trading, this occurs when greed overpower the trader's knowledge and skills.

Why endlessly list all possible and all personal reasons, if this does not help to solve them in any way. More than 90% of traders do them anyway.
And this is the biggest mistake, the parent of all mistakes. Nobody wants to look for and solve their own mistakes, everyone wants to talk about strangers and common in the forums.

I think the biggest mistake most traders make is having a herd mentality. I seriously don't understand why people follow the majority? It's already proven that majority of traders fail, so why rely on education that the majority are learning? Why rely on techniques that the majority are using? It's seriously mind-baffling. Be unique and have your own trading strategy! Back-testing is your friend.

I have seen a lot of traders entering the forex market without proper learning. They are often the ones who end up blaming the market for the losses they make.

the most common mistake is to trade on bigger lots without enough knowledge about the instrument.

It’s normal. The ones who fail in the trading market usually blame the market and often say forex is a scam. The most common thing that gets into their head is the greed to earn more.