Common mistakes

The 2 most common mistakes are the wrong vision about what Forex is and risking what you can`t afford to lose.

First you need to study and understand the essence of how everything works and how to apply it in practice.

Without enough skills and experience, it's normal to lose money and get scared. Whether new or old, we are bound to lose money if we don't understand the market and follow discipline.

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According to me, the biggest mistake a trader makes is not using stop loss.

Yes, these are the most common mistakes that new and some advanced traders tend to make.

Most people believe that the more complicated a strategy the better it is. They get impressed by colorful charts and think wow this must be something awesome.

It can be . it is great difficult to make profit by pin bar strategy for the beginners . as a newcomer that’s why now I am comfortable with scalping that brings profit in a short time than others trading techniques.

UweMoench posted:
Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.

Oh yes, been there and done all of those more than once.

I believe the biggest mistake is trading without any proper plan, trading without any strategy means getting more risks and losses.

I think risk management is the main problem people have. Most people do not understand Lot size and just use a random number that they think is suitabl

UweMoench posted:
Common mistakes are those that we make very often. Over trading, revenge trade, fear of missing opportunity and not following any money management policy are the most common mistakes.

Yep, all common mistakes unfortunately!

One big mistake is to assume that anyone can make money from Forex trading. It just isn't true. Almost everyone loses money. Only the dedicated will prevale

We should try to control our emotions and avoid our emotions from influencing our decisions. This is not easy and may take long time and experience to make our trading emotion free. Emotional control is more essential when one loses money in Forex trading because this is the time when many people behave irrationally and take hasty decisions with a view to recover their losses.

TradeHut posted:
I believe the biggest mistake is trading without any proper plan, trading without any strategy means getting more risks and losses.

Yes. Most traders lose their money because of their low knowledge.

@TraderHut I agree with your point that unplanned trading is one of the most common as well as the biggest mistakes made in trading. With unplanned trading, the chances of losses are high and hence very risky.

the most common mistake is revenge trading i mean over trading , generally the traders we have beginners always do that when making a losses.

Revenge trading or over trading is undoubtedly one of the biggest trading mistakes. I have done it once and faced a huge loss. I learnt from my mistake and never ever repeated the same. Revenge trading is always to be avoided otherwise it can result in unbearable loss at times.

Common mistakes are those that we do again and again. Over trading, revenge trading, no money and risk management all are common mistakes.