5 Mistakes to Avoid

Romanoff

Recruit
Messages
5
да обязательно нужен тренажер. Иначе реальных денег потом не увидишь.
 

downtrend

Sergeant
Messages
876
Among these 5 mistakes, risk management is the most important one. With a good strategy, if you are not using good risk management, then you cannot become a consistently profiting trader.
 

celeryleaf

Corporal
Messages
91
I know there are countless threads and posts about mistakes, but given that plenty of newbies get attracted to trading around December due to heavy promotions I thought I put my 5 mistakes to avoid as a forex trader here (this is not a complete list and there are many more mistakes to avoid, but personally I think it is a good start):

1. Thinking that trading in a demo account will make a trader out of you.
2. Trading in the wrong account type.
3. Miss-use of stop loss orders.
4. Thinking leverage caused you to blow your account.
5. Ignoring proper risk management

Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.
What do you mean by the wrong account type? What is right and what is wrong here?
 

EURUSD

Sergeant Major
Messages
1,133
Among these 5 mistakes, risk management is the most important one. With a good strategy, if you are not using good risk management, then you cannot become a consistently profiting trader.
Yes I think so too, many newbie might they have mindset only look for profit but less pay attention with the risk management, and often trade recklessly without stop loss and relying with lucky
 

EuroTrader

Sergeant Major
Messages
1,046
Yes I think so too, many newbie might they have mindset only look for profit but less pay attention with the risk management, and often trade recklessly without stop loss and relying with lucky

Those traders who are newbie have to learn how they can manage their trading and also reduce the overall losses they are getting in their trades :)
 

Mark Fahad

Banned spammer for MxTrade and TradingBanks
Messages
24
There are many foremost mistakes that we have to leave to lead a flexible and profitable trading life with certainly. Most of the traders consider high leverage as a big mistake in Forex trading. but, in order to my trading experience , I don’t consider high leverage at any risk, if there is any risk, it is completely with non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage, we the traders have to know how to manage risk.
 

EuroTrader

Sergeant Major
Messages
1,046
There are many foremost mistakes that we have to leave to lead a flexible and profitable trading life with certainly. Most of the traders consider high leverage as a big mistake in Forex trading. but, in order to my trading experience , I don’t consider high leverage at any risk, if there is any risk, it is completely with non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage, we the traders have to know how to manage risk.

It is only when we get the losses in our trades we are able to realize the mistakes we have made and then we have to do some efforts so that we can correct them :D
 

celeryleaf

Corporal
Messages
91
There are many foremost mistakes that we have to leave to lead a flexible and profitable trading life with certainly. Most of the traders consider high leverage as a big mistake in Forex trading. but, in order to my trading experience , I don’t consider high leverage at any risk, if there is any risk, it is completely with non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage, we the traders have to know how to manage risk.
Yeah but high leverage is a pure risk in itself. Its the only option for some traders but if ther is a way to avoid its always better to stay away from these incredible figures
 

EuroTrader

Sergeant Major
Messages
1,046
Yeah but high leverage is a pure risk in itself. Its the only option for some traders but if ther is a way to avoid its always better to stay away from these incredible figures

There have been many times when i have lost my trading accounts as i was using very high trading leverages :)
 

ForexVerified

Private, 1st Class
Messages
582
Yeah but high leverage is a pure risk in itself. Its the only option for some traders but if ther is a way to avoid its always better to stay away from these incredible figures
It's true. If you want to survive long-term trading Forex, you should first lower the leverage. You never know when your bad luck will hit and caught you on the losing side with a massive lot.
 
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