Bad habits of beginner traders.

EURUSD

Sergeant Major
Messages
1,133
Not all but 95% are not worth it. There is enough free education out there.
Yes, there are so many article related forexes out there, but most important us practice, with practice, will make perfect, if not having the capital to start trading in real account, hence demo account also good way to learn and improve skill trading
 

JamesForexSlayer

Sergeant
Messages
220
Yes, there are so many article related forexes out there, but most important us practice, with practice, will make perfect, if not having the capital to start trading in real account, hence demo account also good way to learn and improve skill trading
Demo account is needed for sure. I did almost 2 years before going live.
 

bigdolly

Sergeant Major
Messages
895
Demo account is needed for sure. I did almost 2 years before going live.
How smooth was your transition? Did you start to make profit immediately or there was period adaptation where you learned how to cope with weaknesses that were hidden during demo trading? It was quite painful experience for me to move from demo Hotforex account to live because one single losing trade made me crazy, I entered "revenge" mode and lost my first deposit.
 

JamesForexSlayer

Sergeant
Messages
220
How smooth was your transition? Did you start to make profit immediately or there was period adaptation where you learned how to cope with weaknesses that were hidden during demo trading? It was quite painful experience for me to move from demo Hotforex account to live because one single losing trade made me crazy, I entered "revenge" mode and lost my first deposit.
I started with 0.01 lots to help the transititon, it was tough though and definitely an eye openeer. I started caringtoo much about every trade and trying to micro manage them.
 

walpants

Corporal
Messages
74
Yes this habit is with almost all traders they are in hurry to close trades even they get some pips. I must say it is safe way to collect profits because they do not put themselves in risk by waiting more profit they fear they can loose earned profit if they remain open positions. In this way they are able to collect only some profit , After some experience they can get confidence to remain stay in market to get more safe pips.
yes i see what you are saying, its not such a bad habit i guess but it sure is frustrating when you see it go to your original tp but you already closed out
 

Kokomaster

Private, 1st Class
Messages
89
Certainly helped with the emotional side, live account micro lot
And as you will shift to bit large lot size you will again start feeling uncomfortable. The thing is you have to make your mind that how much you can afford to lose in a single trade and then you will start feeling normal about any trade.
 
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