5 Mistakes to Avoid

AlecR

Corporal
Messages
93
Greed is also when you don't close the trade in time and hoping that it will keeping going further in profit. Yes, it can be done and you can keep holding a trade but you have to trail your stop loss so you do not lose much profit.
 

Farm_Yard_Forex

Corporal
Messages
115
1. Not trusting a trading plan through the inevitable down periods
2. Increasing lot sizes when you have made some losses to attempt to make them back.
3. Thinking in the short term.
4. Not treating it like a business.
5. Not putting the hard yards in learning and practicing
 

nahiyar

Private, 1st Class
Messages
816
these are very helpful reasons that are the base of mistakes most traders do. When they face a loss they try to cover it instantly, and it is not possible that you recover your loss on next trading you have to plan again how to get back your money ordo such steps to have a profit again that will automatically recover loss.
 

John perry

Corporal
Messages
135
1. Not trusting a trading plan through the inevitable down periods
2. Increasing lot sizes when you have made some losses to attempt to make them back.
3. Thinking in the short term.
4. Not treating it like a business.
5. Not putting the hard yards in learning and practicing
this is all key advice and should stick to a learning plan
 

Chiyo

Private, 1st Class
Messages
43
1. Not trusting a trading plan through the inevitable down periods
2. Increasing lot sizes when you have made some losses to attempt to make them back.
3. Thinking in the short term.
4. Not treating it like a business.
5. Not putting the hard yards in learning and practicing
Good points!
 

scott11

Recruit
Messages
152
Very interesting topic. But, based on my experience, it is quite easy for a beginner to jump into trap of mistakes. I also find that as long as trader is willing to improve him or herself, every mistake can become only mistake of inexperience
 

bigdolly

2nd Lieutenant
Messages
1,009
Very interesting topic. But, based on my experience, it is quite easy for a beginner to jump into trap of mistakes. I also find that as long as trader is willing to improve him or herself, every mistake can become only mistake of inexperience
Newbies are emotionally unprepared that's the real issue. they don't know how to handle losses and it ruins easily their trading plans or systems. It is not trivial aspect of trading and many newbies are caught off guard because they don't pay attention to their personal attitude to losses and wins.
 
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