What is your biggest forex trading weakness?

[virmon]

Hello all!

Yes, it is me again with monthly poll! The question this month is "What is your biggest forex trading weakness?"

Possible answers include:

a)I lose control over trades.
b)I struggle with emotions over losses and lost "potential profits".
c)Indecision is my greatest weakness. I hesitate too much.
d)I am not focused as much as I should be!
e)I do not stick to my trading rules and not always apply my trading plan.
f)I still haven't defined a good money management system.
g)I believe that I have magical powers and can predict the future.

If you feel that you have some other weakness (not mentioned above) please share Thank you for your votes.

 

[Sinnerman]

You might want to make this a poll. Easier to keep track of votes and all that.

 

[FXexpert]

For me it is probably G.) haha I always think I know exactly what's going to happen, sometimes it works & sometimes I lose money.

 

[bestforexsoftwares]

For me is OVERTRADING....I hate it..but I tend to trigger more trades than I should.... I would have kept much more profits If I only take the high quality setups 🙁

 

[Pinalli]

I sometimes become very initiative and try new things which leads me to loss. Thought i try not to over trade but then again due to less control on my mind i test something very innovative.

 

[FXexpert]

For me is OVERTRADING....I hate it..but I tend to trigger more trades than I should.... I would have kept much more profits If I only take the high quality setups 🙁

I think that's something a lot of traders run into, it's best to analyze analyze analyze then, when you know it's a great time to enter the market, enter a trade you know will make money on.

 

[rosy]

biggest forex trading weakness

Hello all!

My biggest forex trading weakness is
I still haven't defined a good money management system.

 

[Pinalli]

Hello all!

My biggest forex trading weakness is
I still haven't defined a good money management system.

My friend money management is very important, i would suggest you to get it done for you as soon as you can to avoid losses.

See ya

 

[JEAN]

Definitely

b)I struggle with emotions over losses and lost "potential profits".

Isn’t it the biggest weakness ever??? 😱

 

[stockforexman]

I am too cautious at times. I don't trade setups because I don't want to risk my money. I used to be the other way round when I was a new trader though.

 

[Pinalli]

I am too cautious at times. I don't trade setups because I don't want to risk my money. I used to be the other way round when I was a new trader though.

Its very hard to overcome our weakness but for successful trading over coming is very important.

 

[R61i]

For me it seem like item E I do not stick to my trading rules.

 

[FXexpert]

You don't stick to your trading rules?? Which rules do you go by?? If they're effective it's best to stick to a certain set of rules of strategies.

 

[Pinalli]

Well according to me a smart trader is one who can mold his strategies, rules and trades according to the economic situation and current market conditions.

Planning is very necessary, implementation is also crucial but adaptability is also vital for successful trades.

Cheers

 

[jimmytrader]

I always have problem entering too early...that single issue almost account for 50% of my losses... 🙂

Thats the reason I always got to let my winners run as much as they can.....they help to turn my account positive most of the time

 

[lord rastus]

For me initially it was definately overtrading.

I had targets to aim at but continued to push in and out of the market whereas I should have sat back and viewed my mistakes.

I was entering the market around 30 times a day and ending up virtually neutral in profit/loss.

It was only when someone pointed out the obvious that I had effectively lost 90 pips a session that I reviewed what I was doing !!

Now its rarely more than 3/4 a day ?
How do other members view what I have written ??

 

[andy003]

Definitely

b)I struggle with emotions over losses and lost "potential profits".

Isn’t it the biggest weakness ever??? 😱

Hello

Emotions is a biggest obstacle for your trading career. Did you hear that Emotional control is at the heart of good trading, if you are emotive trader, you can never get success in forex market. you can never become a Successful Trader.Try to remove this weakness ,just improve yourself.

Have A Happy Trading

 

[FXexpert]

I see, reading up on some of the posts here on earnforex or googling it to find a good plan may be the best ways to find a quality money management plan.

 

[metalx00]

all of the above i guess, lol

 

[finvik]

my biggest weakness??? i think i am over cautious while trading, so i think the osses are pretty less, but sometimes i lose some of the great earning chances also!