5 Mistakes to Avoid

celeryleaf

Corporal
Messages
91
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.
Aaaand all the novices are attracted exactly by enormous leverages...
 

EURUSD

Sergeant Major
Messages
1,133
Yes and we have to first of learn how we can save our trading funds and in the meantime reduce our losses :)
It's god way to learn how to manage the risk to increasing profit, some advice for newbie is better they trying to saving than boosting, it's mean with strict risk management will having better opportunity to making profit
 

EuroTrader

Sergeant Major
Messages
1,048
It's god way to learn how to manage the risk to increasing profit, some advice for newbie is better they trying to saving than boosting, it's mean with strict risk management will having better opportunity to making profit

In our trading when the risks will start to come down then we can trade safely and also in turn increase our trading profits :D
 

Martinafx

Recruit
Messages
1
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.
I do agree with your list. but don't you think that demo trading makes somewhat of a trader out of you? i suppose we all started with some practice accounts because nobody in their mind would jump straight with their real money info the forex world.... correct me if I'm wrong.
 

EuroTrader

Sergeant Major
Messages
1,048
I do agree with your list. but don't you think that demo trading makes somewhat of a trader out of you? i suppose we all started with some practice accounts because nobody in their mind would jump straight with their real money info the forex world.... correct me if I'm wrong.

We all depend on the trading income and that will come to us if we have the required trading skills with us. So we have to take some help from the Demo trading accounts :D
 

celeryleaf

Corporal
Messages
91
I do agree with your list. but don't you think that demo trading makes somewhat of a trader out of you? i suppose we all started with some practice accounts because nobody in their mind would jump straight with their real money info the forex world.... correct me if I'm wrong.
Maybe he meant that a demo is a good start but not a way to success? Its like a demo is good but its not a cure and its not the only means to become a real trader.
 

EuroTrader

Sergeant Major
Messages
1,048
Maybe he meant that a demo is a good start but not a way to success? Its like a demo is good but its not a cure and its not the only means to become a real trader.

If we are able to make the correct use of the DEMO trading accounts then our trading will become more fruitful in the end ;)
 
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