There are lot of common mistakes

There are lot of common mistakes every trader do when they are new. I also did the same. Like opening trade position before big news events and after the news events. Opening too many lots is another mistakes. Risking more than 1% of the capital is also a mistake. Another big mistake is unrealistic expectation. We come here to make double, triple of our capital over night. But it's the biggest mistake one can have. We also make mistake in choosing broker.

The biggest mistake people make is they think trading doesn't require skills. It happens when we treat trading just like gambling. But the truth is to make consistent profit you need knowledge and skills.

New traders often start with real account without demo practice which is a big mistake.

The mistakes we make when trading are common enough that everyone repeats the same thing.

Mistakes are the lesson to be learnt and improve for the future.

There are so many people who think that forex trading doesn’t require skills and you can make money in the market whenever you can. But it’s not the truth. You have to do your learning and enhance your skills to make profits in the market.

Thats so true ive made all of the same mistakes mentioned above lol

Sometimes it is better to study the mistakes that can occur during trading in order to be on the safe side than to experience them in your trading.

The common mistake which I noticed among most of the traders is doing overtrading, in the urge of making maximum profits they open multiple positions without sufficient capital and end up gaining loss.

I guess starting live trading, without any good skills and knowledge is another huge mistake and some traders don't even plan their moves, which is again a big fault.

Nearly every trader tends to make some mistakes in their trading career. We have to learn to live with them.

Well, mistakes make us human right. There are definitely some mistakes every trader makes in their career.

mortanlais posted:
Well, mistakes make us human right. There are definitely some mistakes every trader makes in their career.

True. All of us make mistakes, better not everyone tries to learn lessons from their mistakes.

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.

radioactive posted:

mortanlais posted:
Well, mistakes make us human right. There are definitely some mistakes every trader makes in their career.

True. All of us make mistakes, better not everyone tries to learn lessons from their mistakes.

Yes. Every trader should make their mistakes as their learning options.

Tremblay posted:

radioactive posted:

mortanlais posted:
Well, mistakes make us human right. There are definitely some mistakes every trader makes in their career.

True. All of us make mistakes, better not everyone tries to learn lessons from their mistakes.

Yes. Every trader should make their mistakes as their learning options.

That is very nice advice. If every trader does this, they can make good trading careers in this platform.

Better to learn from other peoples mistakes and take advice from the forum here on myfxbook!

Choosing the right broker is very important. Never go for an unregulated broker. Your funds are not safe with them.

First mistake most traders do that they think trading doesn't require much knowledge and skills. Second mistake they do - they completely ignore psychological aspect of trading.