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5 Mistakes to Avoid

Discussion in 'Beginners Bootcamp' started by Rambo35, Dec 4, 2013.

  1. dianajs

    dianajs Private, 1st Class

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    I agree, but I also think there are many wrong and many right approaches. It depends on the individual which is the right approach for them and sometimes figuring that out for oneself takes a little time.
     
  2. Nisoro

    Nisoro Recruit

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    Money can also be lost because of stupidity and naivety. They watch an advertising in which it's said that you can make a lot of money easily and quickly and invest money no one knows where.
     
  3. nahiyar

    nahiyar Private, 1st Class

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    Loosing is not an issue, it can be without planning but for gaining you have to struggle. Mostly traders not know how to face market with different moods he has to learn what market wants this time . Apart from his own wills he has to act according to market movement. A big mistake is overconfidence when they think they can get profit without any analysis.
     
  4. Ken Smith

    Ken Smith Private

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    The first mistake most traders do is - they take the trading very lightly. Actually they have been introduced forex in a wrong way. They are told that it's very easy. You just have to deposit money and when price will go up you have to go for short and vice versa. A ready-made strategy will all the trick. The root cause of everything is a lack of knowledge.
     
  5. bigdolly

    bigdolly Master Sergeant

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    Yeah forex is easy to trade but hard to win. Simplicity prompts new traders to make silly mistakes and repeat them without deep introspection on why that happens and how they can improve it. I advice rookies to start extensive experiments on demo consolidating knowledge with trading on live account with small deposits and focusing on learning instead of earning.
     
  6. scott11

    scott11 Recruit

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    I think the first and foremost mistake that many traders do is the thinking that the trading is the shortcut option for earning huge profits and becoming a wealthier person in a flash. If you are thinking the same then please do not waste your time and money here.
     
  7. alaska27

    alaska27 Recruit

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    You're right bigdolly, I agree with you. The problem s the major part of newcomers try to earn a lot of money instead of getting the knowlege
     
  8. dianajs

    dianajs Private, 1st Class

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    Greed and fear are usually the two emotions that have the biggest effect over all traders, depending on the person one or the other has bigger influence.
     
  9. nahiyar

    nahiyar Private, 1st Class

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    Yes with all trader this basic problem lies. All want high success with low knowledge and practice. Trading and trading practice is the only way to get earning from forex market. Just knowledge will not give you any thing until you had no grip on trading.
     
  10. EURUSD

    EURUSD Sergeant Major

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    This is like as one disease for many beginner which first time knows forex is ask question how much we can make per day, while on real trading this is not only about profit, but also about loss must become consideration on daily trading, so risk management also need to improved
     

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