newcomers trading habit

But a little bit of greed is OK otherwise we would not all be looking to get rich through Forex!

Our total risk should not be above 2%. Now it could be 2% in a single position or all the open positions. Some traders take 2% risk per trade then open 5 trade which becomes 10% risk. We should not do this type of mistakes.

Greed, fear, and all kind of emotions are the habits of new traders.

As a newbie, you should concentrate on developing a trading strategy and making good investments.

Number one biggest mistake new trade commits 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.

We can only warn traders about how emotions can be harmful in trading. They would actually come to know only when they have made significant losses. Only with these losses comes the actual wisdom. So, I suggest new traders to start small in order to avoid big losses while initial trading.

beginners always try to skip the learning approach and as a result there is almost 90% traders become loser.

The worst thing anyone can do in trading is think they know it all. Be humble, always stay open to learning and keep progressing.

Other than studying the nature of the forex market, one thing that has helped most is a trading journal. All traders should know whether they are growing or not. With the help of a trading journal, traders can figure out the flaws in their trades and can trade better in future.

Trading journal really is quite helpful in analyzing yourself as a trader. This way you become a better version of yourself.

Its the holy grail of trading and thats trading psychology
Where you can lose trade or trades and come back unperturbed and make successful trades knowing you have a edge