Unnecessary trade

Unnecessary trade is a very common problem for newbies. Actually you do it out of confusion. You don't have trust on your strategy and yourself. You should have clear idea about your risk reward ratio and winning ratio. You lack confidence. It comes from not knowing what you are doing. Practice on demo find out your winning trade ratio. The main point is you have to increase your skills.

I think you are right

A lot of newbies think that overtrading would help them recover their losses. They must understand that nothing like that would ever happen. That’s what you learn with experience. The more experience you make, the better the trader you become.

Over trading is in now way helpful. I remember how many losses I have incurred because of not closing my positions on time.

Sometimes we release something important and suffer losses, but the most important thing is to draw the right conclusions from mistakes and correct them.

People are just interested in getting everything at once, and this sometimes leads to severe consequences.

Even the most improper trade is an experience.
And experience is the basis for productive work.

salamibrish posted:
A lot of newbies think that overtrading would help them recover their losses. They must understand that nothing like that would ever happen. That’s what you learn with experience. The more experience you make, the better the trader you become.

Absolutely. Overtrading is one of the biggest mistakes.

Yeah, they should be aware of when to enter and exit but then it also comes with some experience, so there is that.

dennisstanley posted:
Yeah, they should be aware of when to enter and exit but then it also comes with some experience, so there is that.

Agreed, practice teaches a lot while we trade. It takes time and patience to become better here.

Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.

no way to avoid the importance of demo trading , bu the main problem is , the experience we took from demo practically not works when trading in a live account. so, traders don't believe the importance of this trading place. 

It is never possible to gain trading profit without a trading plan and discipline. As a trader, you should always trade with discipline.

To avoid unnecessary trades, traders have to follow proper trading plan. Otherwise you may end up in losing side.

Loss is inevitable in forex trading but you shouldn't feel dejected like you have said,if you get dejected every time you loose,then it would come to a certain time that you would not want to invest in forex again but if you carry on and you don't let your loss to weigh you down,I am sure you will be able to trade many more.

If you trade by force where there is no trade. But it will go beyond discipline and plan. So you have to survive by trading positively.

LeviSievwright5 posted:
If you trade by force where there is no trade. But it will go beyond discipline and plan. So you have to survive by trading positively.

I make it a point to never go against my plan, as much as possible. I guess that's too important to stay in the game.

Overtrading is dangerous. Sometimes people overtrade because they are getting profits back to back and sometimes its revenge trading, that is when you trade to overcome your losses. Please don’t let these two situations fool you as the market is very volatile and you cannot predict the market’s direction a 100%.

jasonmark409 posted:

MichaelEX posted:
Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.

Absolutely and I’ve seen that often traders make the mistake of opening lots of positions in greed or hope to hit the jackpot on some or all of their trades.

When I started trading, I started using the 15 minutes chart believing that more trades would equal more profit. I mean if one can make 2-3% on a trade that lasts for 2-3 weeks, what’s the harm in making the same in 2 hrs? Damn how wrong was I and late to realize that overtrading did nothing but exhaust my funds at a much faster rate.