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Number one biggest mistake

Martingupttil
Jan 28 2021 at 10:01
38 postów
blandpatsyy posted:
Martingupttil posted:
Numeromatt posted:
I absolutely agree Martingupttil, newbies don’t think about the amount of effort required for learning trading. All of those years where now successful traders earned only peanuts while learning trading, is not seen by many people. Sometimes it can take a lifetime to make substantial profits.

It is not only about trading but in every field it is the same, hardships can only make you understand the real meaning of the hustle. There are many new people who don’t look for features which they require but go with other recommendations. When I started out I tested a whole lot of brokers and trading platforms on their demo accounts and only after extensive testing of different strategies on FXCM and fxview, I went live.

According to me more than greed there are other factors like lack of experience and a robust plan for trading which leads to the downfall of the traders.

Leverage is another factor I would add to the list. Newbies choose the brokers only on the basis of leverage they offer. When they suffer loss on the leveraged trade they seriously get on the road. It is the biggest mistake which is made by the new to some experienced traders.

blandpatsyy
Jan 28 2021 at 11:26
42 postów
Martingupttil posted:
blandpatsyy posted:
Martingupttil posted:
Numeromatt posted:
I absolutely agree Martingupttil, newbies don’t think about the amount of effort required for learning trading. All of those years where now successful traders earned only peanuts while learning trading, is not seen by many people. Sometimes it can take a lifetime to make substantial profits.

It is not only about trading but in every field it is the same, hardships can only make you understand the real meaning of the hustle. There are many new people who don’t look for features which they require but go with other recommendations. When I started out I tested a whole lot of brokers and trading platforms on their demo accounts and only after extensive testing of different strategies on FXCM and fxview, I went live.

According to me more than greed there are other factors like lack of experience and a robust plan for trading which leads to the downfall of the traders.

Leverage is another factor I would add to the list. Newbies choose the brokers only on the basis of leverage they offer. When they suffer loss on the leveraged trade they seriously get on the road. It is the biggest mistake which is made by the new to some experienced traders.

Honestly that was one of my reasons for choosing a broker because I did not have much money to invest. I started by putting in $100 with fxview and later created one more account with cmc markets. It’s okay to use leverage I believe, if based on a proper plan.

Numeromatt
Jan 29 2021 at 13:40
38 postów
blandpatsyy posted:
Martingupttil posted:
blandpatsyy posted:
Martingupttil posted:
Numeromatt posted:
I absolutely agree Martingupttil, newbies don’t think about the amount of effort required for learning trading. All of those years where now successful traders earned only peanuts while learning trading, is not seen by many people. Sometimes it can take a lifetime to make substantial profits.

It is not only about trading but in every field it is the same, hardships can only make you understand the real meaning of the hustle. There are many new people who don’t look for features which they require but go with other recommendations. When I started out I tested a whole lot of brokers and trading platforms on their demo accounts and only after extensive testing of different strategies on FXCM and fxview, I went live.

According to me more than greed there are other factors like lack of experience and a robust plan for trading which leads to the downfall of the traders.

Leverage is another factor I would add to the list. Newbies choose the brokers only on the basis of leverage they offer. When they suffer loss on the leveraged trade they seriously get on the road. It is the biggest mistake which is made by the new to some experienced traders.

Honestly that was one of my reasons for choosing a broker because I did not have much money to invest. I started by putting in $100 with fxview and later created one more account with cmc markets. It’s okay to use leverage I believe, if based on a proper plan.

Right! I am always an advocate of leverage because without that, earning substantially in trading is not quite possible.

Quange
Feb 02 2021 at 15:12
25 postów
As for me, the biggest mistake is making a large deposit with no experience?

Sar John (Sarjohn)
Mar 06 2021 at 08:26
187 postów
Martingupttil posted:
Sarjohn posted:
Yes totally agreed.. The biggest mistake for a new trader is to be over confidence and greed for more and more money. Newbies without having proper knowledge trade high risk product and ends up with making losses.

More than greed I think the problem is that the new traders don’t learn and get huge expectations underway, they think trading is a golden goose with golden eggs.

yes exactly. do remember trading without knowledge is always dangerous.

WaltonCharles
Sep 27 2021 at 20:57
144 postów
Quange posted:
As for me, the biggest mistake is making a large deposit with no experience?

I completely agree with you.

Tam_fx
Sep 28 2021 at 06:15
20 postów
Quange posted:
As for me, the biggest mistake is making a large deposit with no experience?

Yes, risking more than capital than one can afford to lose is one of the biggest blunders.

CocoChannel
Sep 28 2021 at 10:40
57 postów
For me, the biggest mistake is trading without any knowledge and sufficient practice.

Marcel Durham (MarcellusLux)
Sep 28 2021 at 12:33
144 postów
There are no largest and no smallest mistakes. They cannot be compared, because anyway, it will lead you to unsuccessful trading. Everything is important here. Every detail of a trading strategy must be part of a large and complex mechanism, doing its own little job, without which the whole machine will stop.
And there is nothing wrong with considering forex as an easy way to make money if you are a professional.

Nuadahuginn
Sep 28 2021 at 19:59
22 postów
The first thing a newbie should do before trading seriously is to learn the fundamentals of not only trading but also of economics. It is necessary to have at least wide knowledge about all the economic stuff like demand and supply, price, interest rates, etc. This will help you a lot.

RobertFerrari
Sep 29 2021 at 19:45
371 postów
MarcellusLux posted:
There are no largest and no smallest mistakes. They cannot be compared, because anyway, it will lead you to unsuccessful trading. Everything is important here. Every detail of a trading strategy must be part of a large and complex mechanism, doing its own little job, without which the whole machine will stop.
And there is nothing wrong with considering forex as an easy way to make money if you are a professional.

Yes. But Every trader should make their mistakes as their learning tools.

Marcel Durham (MarcellusLux)
Sep 30 2021 at 09:39
144 postów
RobertFerrari posted:
MarcellusLux posted:
There are no largest and no smallest mistakes. They cannot be compared, because anyway, it will lead you to unsuccessful trading. Everything is important here. Every detail of a trading strategy must be part of a large and complex mechanism, doing its own little job, without which the whole machine will stop.
And there is nothing wrong with considering forex as an easy way to make money if you are a professional.

Yes. But Every trader should make their mistakes as their learning tools.

Gaining experience through mistakes is valuable knowledge, and even now, with 12 years of trading experience, I always check my algorithm after mistakes and look for perfection.

Tradextol
Oct 13 2021 at 06:28
57 postów
Nuadahuginn posted:
The first thing a newbie should do before trading seriously is to learn the fundamentals of not only trading but also of economics. It is necessary to have at least wide knowledge about all the economic stuff like demand and supply, price, interest rates, etc. This will help you a lot.

This makes so much sense. Knowing economics is very necessary especially in forex, because the entire market is dependent upon how one country’s economy works. Many people tend to ignore it but in reality the knowledge of economics differs an excellent trader from an average trader.

sphinxo
Oct 13 2021 at 07:08
10 postów
skihav
Oct 13 2021 at 12:55
801 postów
Most often, the reason is that traders can take unnecessary risks.

Treeny
Oct 13 2021 at 20:27
211 postów
Greed will be the undoing of most newbies

Williamfreed
Oct 14 2021 at 01:49
167 postów
Most of the new traders come within trading and only wants to earn money but they have no knowledge and skills. So before start always learn about forex and after it, you can make good money.

araventhan
Oct 14 2021 at 04:15
2 postów
What 'skill' do you think is important to learn in order to make money in FOREX ?

araventhan
Oct 14 2021 at 04:16
2 postów
Tradextol posted:
Nuadahuginn posted:
The first thing a newbie should do before trading seriously is to learn the fundamentals of not only trading but also of economics. It is necessary to have at least wide knowledge about all the economic stuff like demand and supply, price, interest rates, etc. This will help you a lot.

This makes so much sense. Knowing economics is very necessary especially in forex, because the entire market is dependent upon how one country’s economy works. Many people tend to ignore it but in reality the knowledge of economics differs an excellent trader from an average trader.


Ok, what and where to learn this things ?

manirex
Oct 14 2021 at 04:43
18 postów
The top level mistake of every trader is start trading with half knowledge.

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