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Overconfident
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Abdielfx

Medlem sedan Aug 09, 2018  10 poster Abdielfx Aug 27 2018 at 07:23
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson

Experience teaches a lot.

diane2000_trader

Medlem sedan Aug 29, 2018  6 poster diane2000_trader Aug 29 2018 at 10:44
Abdielfx posted:
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson

Experience teaches a lot.
Better than anything else, in my opinion

Dandelion

Medlem sedan Jun 19, 2018  10 poster Dandelion Aug 29 2018 at 10:47
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail

rey_shooter

Medlem sedan Jan 18, 2010  17 poster Ganapati FX (rey_shooter) Aug 29 2018 at 11:53
Dandelion posted:
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail


agreed with that... learning never ending... lot of education needed to beat the market...knowing your self...your emotion...controlled it...do a consistent is the key in the forex grin

Candles always right
GreenTrades

Medlem sedan Aug 16, 2018  11 poster GreenTrades Aug 29 2018 at 11:55
Dandelion posted:
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail


Very true. Continuous education is more like a theory part which is pretty boring. But if done continuous learning with continuous experience, it becomes interesting plus knowledge is growing fast and may become good trader if strategy + logic + management is good.

estraub

Medlem sedan Oct 09, 2017  23 poster estraub Aug 30 2018 at 06:41
Overconfidence is dangerous.
Trading without knowledge is even more so.
Just ask me. red


Bifogade filer:

clairepips009

Medlem sedan Jul 26, 2018  3 poster clairepips009 Aug 30 2018 at 08:28
estraub posted:
Overconfidence is dangerous.
Trading without knowledge is even more so.
Just ask me. red


Right. No knowledge and incomplete knowledge both can be detrimental to our trading prospects.

Scotty888

Medlem sedan Aug 31, 2018  12 poster Scotty888 Sep 02 2018 at 06:12
Overconfidence can be fixed by using a strict trading plan. I insist that my Lot size is a fixed percent of my account. This means that I won't go crazy after a good week

jaredtaylor

Medlem sedan Aug 05, 2019  45 poster jaredtaylor Aug 12 2019 at 09:34
Don’t get influenced by the results of current trades and events and ignore the past information. This thing will be problematic if your trading is affected by your fixation on your current winning or losing trades.

togr

Medlem sedan Feb 22, 2011  4838 poster vontogr (togr) Aug 12 2019 at 11:26
There is no easy way to consistent profit.
I see it quite often. At the start of trading beginners luck, making 10, 20 or even 50% a week.
Trading on demo, being relaxed, trying to apply the same approach to real trading, failing to do so,
losses as results and panick.
I love my trading robots whose allow me to avoid all that :)

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