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Basic mistake we make

skihav
Dec 08 2021 at 21:05
801 postów
In this case, it is important to understand that all these errors need to be analyzed and worked out in order to prevent them in the future.

Reece Rispoli (reece22)
Dec 08 2021 at 21:08
68 postów
Quange posted:
In order not to make the mistakes of beginners, a trader must have a personal strategy and plan. You should always know what to do, even in unusual situations.

 Deffiently need a plan /strategy and if they do there homework and research they should gain knowledge

kroxobor
Dec 17 2021 at 04:40
34 postów
Chasing gains while not caring about preserving the profits made is one basic mistake that many of us make. We often don't realise that earning is not enough but we should also look for ways to save those profits. Else, every winning trade is in vain.

RobertFerrari
Dec 17 2021 at 04:48
371 postów
kroxobor posted:
Chasing gains while not caring about preserving the profits made is one basic mistake that many of us make. We often don't realise that earning is not enough but we should also look for ways to save those profits. Else, every winning trade is in vain.

I agree with you. Most traders don't pick the right option at the right time.

traderjakelong
Dec 20 2021 at 05:55
24 postów
Plan and strategy are two very important factors when it comes to forex trading. These are simple words, but they require a lot of knowledge and thought before action can be taken. Many people jump right into the market without a plan or a strategy, hoping to 'strike it rich.' This almost always leads to failure.

Jude_craig
Dec 20 2021 at 06:55
81 postów
Not understanding what you are making your order and missing out on using stop losses in your trades.

Lethab_Mpho
Dec 20 2021 at 10:10
19 postów
Jude_craig posted:
Not understanding what you are making your order and missing out on using stop losses in your trades.


Right, this is the only biggest mistake a trader can make in hurry. Sit and apply stop loss by calculating the risk and reward for yourself.

Actinism
Dec 22 2021 at 05:44
28 postów
Deciding a stop loss is one of the common mistakes people make. Before deciding stop loss or even before starting a trade, support and resistance levels should be identified. Only after identifying them can you execute a good trade. If you just place a stop loss according to your risk limit there are high chances that it will get hit.

Akasuki
Dec 22 2021 at 06:33
500 postów
I see, a number of new Forex traders are too aggressive! They use healthy trading lots size in their trading, although they have nothing knowledge on technical and fundamental market analysis! Novice traders should concentrate on learning rather than earning.

Alexthetrader
Dec 22 2021 at 10:38
60 postów
Exactly!
You need to gain as much knowledge as possible. You can't rely on beginner's luck.

Iceglove
Dec 22 2021 at 12:15
9 postów
Over trading is also common with new traders. i was the same. It is exciting when you first start trading and you think that you need to trade all the time every day. After 3 years trading i now know that is the opposite of how it works

Lexxt
Dec 22 2021 at 16:46
12 postów
The threadrunner is absolutely right by saying that it is better to concentrate on learning and gaining experience rather than chasing some profits in the beginning of the trading journey. Most of the traders want to take their first profits as soon as possible, however, in chase for profits, they abandon learning and concentrating on studying how to trade. The first steps should be motivated by the very idea of trading rather than by the money which it can bring. Some people may say that you can do both: learning and making profits, but they are totally wrong.

croisssan
Dec 22 2021 at 17:56
939 postów
More often than not, people make mistakes because they simply do not have enough experience. For this reason, when I started working with a broker, I used a demo account.

Tuxedo888
Dec 23 2021 at 01:19
65 postów
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.

\
Absolutely right.

So who here has a working strategy, that can give you wealth .?????????????????????????????????????

Peirameter
Dec 24 2021 at 04:53
28 postów
Overusing leverage is probably the most common mistake new traders make. If you don’t have a winning strategy (which most of us don’t have in the beginning) then you’ll only end up amplifying your losses. As leverage increases the individual risk on a single trade, the psychological pressure also increases which amateur traders are not able to face and end up acting irrationally when they deal with outsized positions.

CocoChannel
Dec 24 2021 at 12:33
57 postów
The basic mistake traders make is not understanding the market and trading without sufficient knowledge.

skihav
Dec 24 2021 at 16:12
801 postów
Mistakes are common to everyone. It is more important to be able to correctly identify them and analyze their cause.

LukeRachel
Dec 25 2021 at 02:33
477 postów
Tuxedo888 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.

\
Absolutely right.

So who here has a working strategy, that can give you wealth .?????????????????????????????????????

I think that's what we need to focus on to gain knowledge. Money will be made automatically. But it is not necessary to focus on money from greed.

croisssan
Dec 25 2021 at 16:23
939 postów
Most often, traders make mistakes due to lack of experience. It sounds strange, but it is.

Nalehan
Dec 25 2021 at 19:49
8 postów
I feel that the worst mistake which is usually made by the newbies is underrating market analysis. It requires discipline to calm down and start thinking logically and operate with numbers. This discipline should be trained and brought up with the passage of time.

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