Discussion in 'General Forex Discussion' started by new digital, Mar 13, 2019.
Traders make several simple mistakes that can otherwise be avoided, and they lose a lot. Traders, especially newbies, should ensure they get as much trading education as possible. You don't have to buy, in fact, bought education is often very useless. Just get them on free forums like this useful thread. One of the worst mistakes traders make is having a very big ego that makes you trade without stop loss
The most common mistakes of traders are associated with the fear of loss, and the thirst for profit. Fear does not give a normal trade. The trader tries to protect the profit, transfers stop-loss orders, and misses large profits. But the loss is not missing. Or a trader takes an oversized lot and loses money from greed.
interesting, thank you
agreed, you have to have losses to learn from mistakes
I am still somewhat newbie trader and I do not afraid to loose a bit of money really. I clearly do not get all this hustle. Set aside some amount and work from here really. Please be sceptical around all so called money making proposals and you will be good.
I came here to read traders opinion; but I see you added YouTube videos; really frustrating!
I agree it is more frustrating , when all the pretenders and failed traders are giving fake education, false opinions, fake motivation and fake "half information" in youtube videos.Most of these video makers are failed traders giving charlatan opinions of quacks.
very well said here. very logical and more people need to cotton on to that.
Yes, it is! In addition, good trading knowledge isn’t available here and there!
Same stuff is available for free on internet searches, how can there be a free lunch of profitable knowledge?It is free because it is useless and worthless.
The guy who invented the light bulb, failed 1,000 times , he acquired the knowledge to succeed over many failed attempts.
Why would you pay for any Forex courses, when you can get this knowledge for free. I think that there are several very good websites with trading lessons, which is enough to start experimenting on demo account and search the ways to expand your knowledge through experience
Thanks for sharing a nice thread and it can be expected that this informative thread will help beginners to take lessons from the expert. Yes, foreign currency exchange traders often commit mistakes due to many reasons. One of the common lacking that a trader requires to overcome is: he must try to get acquaintance with the basic things related to forex trading so that he can make certain protected trading journey.
That’s the power of this Forex community! When I was a new trader then this type of thread helped me a lot.
I see that the biggest mistake that the most of traders do it is the trade with huge lots and high risk to profit with no plan or money management so this is the reason of the loss to a large portion of traders. So i think that we need to control on this and dependably maintain a strategic distance from the trade with high risk and with huge parts in light of the fact that the trade with plan is the best thing that dependably lead us to the achievement. At least we should follow 1:1 risk and reward ratio because a survey shows that most traders are right in more than 50% times.
Yes; because a number of traders try to be a millionaire within just a single night! Expecting unrealistic profit is very common in Forex!
Certainly Ary, many new traders are expecting to become millionaires with only few short term trades. But, I dont blame them at all as there are is huge amount of marketing materials from various brokers trying to provide exactly this picture to all new traders
Traders tend to make a lot of mistakes. They may start trading without having a plan, just on the basis of hit and trial. They blindly follow the systems and anticipate a lot of profits, that takes them nowhere but to incur losses for themselves. Lack of a diversified portfolio and improper setting of limits are another faults that traders have.
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