Michihito
Členom od Jul 19, 2020
298 príspevkov
Nov 29 2020 at 14:42
Number one biggest mistake new trade do is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
SofieAndreasen
Členom od Jul 23, 2020
759 príspevkov
Nov 30 2020 at 03:48
I agree with you. Unfortunately, most of new trader come to the market with this kind of thought.
Johnathankim
Členom od Jun 23, 2020
29 príspevkov
Dec 10 2020 at 09:49
I think the biggest mistake for new traders would be their overconfidence and desire for more and more money.
Roberto21
Členom od May 02, 2019
364 príspevkov
Dec 13 2020 at 03:48
Newcomers should focus on others inevitable part of trading besides acquiring good trading knowledge. Controlling emotions , avoid revenge trading , overtrading , money management ,RR and much more things they have to observe for avoiding unfortunate loss.
Fabiandelph842
Členom od Nov 12, 2020
24 príspevkov
Jan 06 2021 at 07:11
Yes, that does happen a lot. It is not as easy to make profits in forex as newbies think it is, and keeping an eye on the profits is a mistake they don’t realise they are making.
Sar John
(Sarjohn)
Členom od Dec 28, 2020
187 príspevkov
Jan 06 2021 at 07:57
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.
forextrader777
Členom od Jan 16, 2021
133 príspevkov
Jan 20 2021 at 04:46
Michihito posted:I also believe that knowledge is a must for trading. Also, before starting actual trading, one must trade on a demo account.
Number one biggest mistake new trade do is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.
KnowFinance
Členom od Jan 16, 2021
85 príspevkov
Jan 25 2021 at 05:20
The biggest mistake is trading with the lack of knowledge and skills which ultimately ends up gaining a loss. Train yourself first before entering into the trade market.
Martingupttil
Členom od Oct 12, 2020
38 príspevkov
Jan 25 2021 at 10:17
Sarjohn posted: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 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.
Numeromatt
Členom od Jun 29, 2020
38 príspevkov
Jan 25 2021 at 12:23
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.
Mike
(kc8yty)
Členom od Nov 19, 2017
39 príspevkov
Jan 25 2021 at 14:01
Biggest mistake in my opinion. Over leveraged, Not cutting losses quickly enough -poor risk management and risking to much per trade.
"Formal education will make you a living, self education will make you a fortune"
vontogr
(togr)
Členom od Feb 22, 2011
4862 príspevkov
Jan 25 2021 at 15:27
The biggest mistake is to start trading without trading plan.
As result you face loss as you basically dont know what are you doing.
As result you face loss as you basically dont know what are you doing.
LeviSievwright5
Členom od Jul 20, 2020
298 príspevkov
Jan 25 2021 at 16:41
Yes, when a trader joins a new trading, Forex seems like a money making machine to him. That idea is completely wrong. If you maintain a plan and discipline, you can make some profit at the end of the month.
AliaDare
Členom od Jul 19, 2020
788 príspevkov
Jan 25 2021 at 17:03
If you don't know about trading analysis, if you don't know about brokers, it will become the biggest mistake in your trading.
LyudmilLukanov
Členom od Jul 23, 2020
869 príspevkov
Jan 25 2021 at 18:25
kc8yty posted:True. Trading with high leverage without proper risk management is like suicide.
Biggest mistake in my opinion. Over leveraged, Not cutting losses quickly enough -poor risk management and risking to much per trade.
momo3HC
Členom od Oct 20, 2018
300 príspevkov
Jan 26 2021 at 20:38
True. The second biggest mistake is to risk what you can`t afford to lose.
Martingupttil
Členom od Oct 12, 2020
38 príspevkov
Jan 27 2021 at 10:43
Numeromatt posted: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.
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.
AhTai
Členom od Jun 06, 2019
11 príspevkov
Jan 27 2021 at 11:22
Biggest mistake for me was to start trading on a live account first. I wish I had used a demo
blandpatsyy
Členom od Jul 17, 2020
42 príspevkov
Jan 27 2021 at 12:47
Martingupttil posted: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.Numeromatt posted: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.
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.