Bad habits of beginner traders.

[holycow]

The beginners have many bad habits which lead them loosing money and some genius minds looses more while chasing their lost money. In fact they need a good mentor like it is required in any other field.

 

[HollyHopScotch]

The beginners have many bad habits which lead them loosing money and some genius minds looses more while chasing their lost money. In fact they need a good mentor like it is required in any other field.

I have to agree.

 

[Notati]

Qasim waqar nobody is blaming new traders for mistakes.Just remember that we were also young traders one day in the past.We just want to be supportive and point to some usual mistakes that new traders are making. It is better for them to be aware of it in order to easily overcome those situations

 

[Esannniki12]

Totally agree that trading can managable. Need to take sometime to study about risk assessment , risk reward ratio, win loss ration and basic math to calculate our position. These things can help in long run trading business.

 

[Albert Dcosta]

This risk to reward understanding is the bis mistake by newbies They do not wait enough for TP to be hit and hurry to close the profitable trades in less profit while they let stop loss to be hit for more trades.

 

[EURUSD]

Sometimes these is like as disease for newbie, if look few pips profit floating they in hurry to close position because afraid if later will become negative floating again, but if look negative floating more and more deeply, they only hope if price will move to early track again, but often the trend remain against their order until facing margin call account

 

[bigdolly]

This risk to reward understanding is the bis mistake by newbies They do not wait enough for TP to be hit and hurry to close the profitable trades in less profit while they let stop loss to be hit for more trades.

Because they tend to stare at monitor for hours and this is mentally exhausting. You start to ask yourself after every retreat, seeing as your profit sink, if you have to close your order to avoid further decrease in gains.

While you can't do the same when your loss increase because its hard to accept losses - keeping trade open seems to be good solution because it is how the hope remains alive.

 

[Molly141]

I am scared to trade.......that is my bad habit.

 

[Froso@FXNET]

Scared to trade because don`t want to lose money this habit always involved in trading hence will hard to develop trading system, forex trading need confidence and this will obtain if we have long time experience, usually as beginner indeed will be scared to open new trades because afraid of losing money, looking at floating loss also make their heart beat faster.

 

[John Mason]

We are scared when not having enough knowledge and confidence in trading. You may control many bad habits and fear with practice only as you will know what you are doing wrong. Bad habits are different and change individually. almost all traders know when they are in hurry or do trading without analysis they are wrong.