Mistakes Many Forex Traders Make (7)
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  • #1 Collapse

    Mistakes Many Forex Traders Make (7)
    Usually, if we talk about common mistakes that traders do is too much. But, what could be said here is, they often forget about the stop loss.
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    One mistake that traders are doing is higher the leverage with small capital, but without good amount they will not be able to trade safely, 1000$ with smallest leverage is the best option to earn as professional trader.

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    • #3 Collapse

      there are alot of mistakes beginners still do the most powerful mistake i think that trading risky with more than 1% or 2% of your capital will make your door be knocked out by mr margin call.
       

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        Mistakes are made by the traders and we have to improve our self and i think the best way is to learn from our mistakes so that we can go and do our best ........
         

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          Originally posted by rhushikesh View Post
          Mistakes are made by the traders and we have to improve our self and i think the best way is to learn from our mistakes so that we can go and do our best ........
          ya dude we have learn form our mistake and do not do it again and earn some good profit and get some experience form our mistake...
           

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            Originally posted by rhushikesh View Post
            Mistakes are made by the traders and we have to improve our self and i think the best way is to learn from our mistakes so that we can go and do our best ........
            Yes as you said we must learn from our mistakes and our loss must not make us be frustrated but it must encourage us to learn and search for more information and strategies also we must be not greedy and open a deal with big lot even if we sure 100% that our predict is 100% as there is not 100% in forex.
             

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              Originally posted by tinku9832 View Post
              One mistake that traders are doing is higher the leverage with small capital, but without good amount they will not be able to trade safely, 1000$ with smallest leverage is the best option to earn as professional trader.
              Leverage is not the tool of safety and no leverage can save our account unless the leverage of 1:10 or 1:5, we have to implement strict MM for the safety purpose.
               
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                Originally posted by akghurde View Post
                ya dude we have learn form our mistake and do not do it again and earn some good profit and get some experience form our mistake...
                I think you have not said correctly what you want suggest we can take the experience from the demo and i think we must try there so that we cant make the mistakes in real....
                   

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                  Originally posted by rhushikesh View Post
                  I think you have not said correctly what you want suggest we can take the experience from the demo and i think we must try there so that we cant make the mistakes in real....
                  The importance of the demo account is that you can trade there and then you will not make too much mistakes when you face your real account. If you do not trade the demo with seriousness then you will have problems and mistakes in your real account.

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                  • #10 Collapse

                    mistakes is really a important can happened more ties in this trading time because if i tell only my self then more than about four or five times i can suffer its some times i can lost account so please remember when you can take a decision than please think more.

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                    • #11 Collapse

                      yea these are the very important points that a trader should keep in mind while trading. before doing any work we should have a knowledge about that, without the knowledge we can not succeed.
                      Check my trading journal here

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                      • #12 Collapse

                        Originally posted by pmann View Post
                        To every forex trader in the house, let us discuss the common and greatest mistakes that forex traders normally makes. People needs to be aware of these mistakes and make necessary corrections. You don't necessarily need to make mistakes made by forex traders in the past, you can learn from their mistakes and avoid them. Your contributions are needed. I will leave some common mistakes i feel forex traders makes.

                        1. One of the major mistakes that a forex trader can make is the lack of education and knowledge about the forex market. While you don't need a college degree or doctorate to succeed in forex trading, you can't succeed in it if you don't take the time to do a lot of study and research.

                        2. Another common mistake of forex traders is believing that it is a get-rich-quick scheme. There's no such thing as easy riches in forex, even though it's very easy to perform transactions with just a click of the mouse. Making money from forex trading is an extremely difficult task, requiring a lot of effort, knowledge, discipline, persistence and dedication. If you are lazy in your affairs, you won't succeed in forex trading.

                        3. Most forex traders are also obsessed about finding the magic indicator or the so-called Holy Grail of forex trading that can make them instant millionaires. The truth is that there is no magic indicator in forex because the forex market is so volatile. All forex trading systems are bound to fail at some point or another. The key to achieving success in forex is to find and follow a forex trading system that fits your own personality.

                        4. Still another common mistake of forex traders is the lack of a sound money management strategy. Money management will limit your losses and allow you to cope with the huge risks involved in forex trading. A good money management strategy will help increase your profits and save your money for future transactions.
                        The lack of sound money management would have been one one to me an this is because without a good money management strategy the money made by the trader would still be lost before he even understands he has made a profit.
                         

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                        • #13 Collapse

                          Originally posted by mustaqim686k View Post
                          mistakes are part of life.the most mistakes the traders made are:
                          1.greed and emoions.
                          2.no patience.
                          3.lack of discipline.
                          4.lack of knowledge.
                          5.trading with high amount.
                          6.no strategy.
                          7.weak analysis and expereince.
                          This is a beautiful summary of the don'ts in forex trading i ave noted it down.thanks a million
                             

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                          • #14 Collapse

                            A major mistake that traders make is actually failing to demo trade for a long period of time in order to get a grasp off the forex market . that is why when they rush into the market they equally rush out of investments and then it is back to the drawing board.
                               

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                            • #15 Collapse

                              Whatever defects every one stated here or is stating at the point is targetted to the ambitious mindset of most forex traders towards making fast money within a short time.
                               

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