Common mistakes in trading

freezfx

Trader
Jan 16, 2017
62
4
19
30
Yeah there are lots of mistakes that are done by the Forex Traders, but the worse would be repeating them again.
Obviously, not learning from your mistakes is the worst one can ever make. So when things go wrong, we should back and consider where things went wrong and see what we need to do differently.
 

freezfx

Trader
Jan 16, 2017
62
4
19
30
These traits you have mentioned can be summed up in one word; Emotion. Once a trader is able to control his emotions, then he can succeed.
I think emotions have got a lot more than these, it could be our mind set, and how we react to a particular trade.
 

freezfx

Trader
Jan 16, 2017
62
4
19
30
Whatever we attribute it to, The ability to change one’s mindset is probably a key characteristic of successful traders.
Totally agree, it doesn't matter what human nature we've got, we have to work at eliminating that will cause us to lose severely in the market. Whether we are use to these or not.
 

Brads

Active Trader
Jul 4, 2016
295
4
29
31
India
Yeah, we need to have control our emotions, you need to remember that unless you have proper control over your emotions you cannot become successful in Forex.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
Totally agree, it doesn't matter what human nature we've got, we have to work at eliminating that will cause us to lose severely in the market. Whether we are use to these or not.
Once a trader is able to figure out the causes of his failures, then he will be successful if he is determined to eliminate and never to repeat them.
 
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AntjeWagner

Guest
These traits you have mentioned can be summed up in one word; Emotion. Once a trader is able to control his emotions, then he can succeed.
yeah and that's the main reason why 95% fail in Forex trading.
it's not because of too less experience, it is not brokers fault, it is not about broker scamming you (not only). it's a human fail...
 

LittleJosh

Newbie
Jan 23, 2017
10
2
4
44
I agree. People spend ages blaiming brokers for 1 or 2 pips slippage rather than focus on the terrible trade tey too anyway that closed at the stop loss!
 
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pipedition

Trader
Nov 29, 2016
40
1
19
32
WE always have a reason for our lost but I think common mistake is trading without stoploss and too overconfident with trading decisions.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
yeah and that's the main reason why 95% fail in Forex trading.
it's not because of too less experience, it is not brokers fault, it is not about broker scamming you (not only). it's a human fail...
We must remove the emotional element as quickly as possible in trading. If you can do it before you put on a position, you have a good start.
 
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AntjeWagner

Guest
well. if it is for business and earning only, yes. i would do. but becoming a roboter in life? i would not wish to become un-emotional
 

Brads

Active Trader
Jul 4, 2016
295
4
29
31
India
Mistakes are inevitable and you need to know that you cannot avoid it but you could learn from it and then improve your trades.
 

freezfx

Trader
Jan 16, 2017
62
4
19
30
Once a trader is able to figure out the causes of his failures, then he will be successful if he is determined to eliminate and never to repeat them.
You need to first identify these problems before anything can be done. So the first thing is bring out the causes and see what you can do differently, but sometimes we need to realize that sometimes there is nothing we could have done.
 

freezfx

Trader
Jan 16, 2017
62
4
19
30
Yeah, we need to have control our emotions, you need to remember that unless you have proper control over your emotions you cannot become successful in Forex.
This aspect of trading is one of the difficult, because we hardly can control our emotions as humans tend to react to unwanted events in a negative way.
 
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Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
This aspect of trading is one of the difficult, because we hardly can control our emotions as humans tend to react to unwanted events in a negative way.
We can't get rid of our emotions since we are humans and not robots. However, our emotions are controllable even though it can be hard at times. Trading successfully is all about making the right decision in the midst of emotions. It's the price we all have to pay to be successful.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
Most of the time traders are punished if they go against the trend. Only at an inflection point are we rewarded. So do not try to predict trends. Instead, participate in trends that we have identified. Remember, markets don’t go straight up or down forever. Trends Change.
 
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AntjeWagner

Guest
good words. and ... go into the market with reasonable volume! don't over leverage.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
Some traders do not know the true the true performance of your investments. It’s great if some of your investments are doing really well, but that doesn’t mean that things are good overall. Your success isn’t judged on the profits made, nor is your failure based on your worst. What matters is that you know how everything is doing and that you keep them in balance by tweaking your contributions.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
You need to first identify these problems before anything can be done. So the first thing is bring out the causes and see what you can do differently, but sometimes we need to realize that sometimes there is nothing we could have done.
I agree, sometimes there's nothing we can do. However, Since we cannot personally change the ups and downs of the economy, we can change our own day-to-day behavior. We can choose to spend less on unnecessary things, which gives us more money to invest toward the future. And the key is finding a good balance.
 

Aadolf

Trader
Jan 26, 2017
60
3
24
46
Some traders make the common mistake of not using stop limits and leverage limits. These two risk management tools prevent an account from being wiped out through all but a long series of losses.