Bad habits of beginner traders.

JamesForexSlayer

Sergeant
Messages
220
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.
If you have a good trading plan I don't think this should be the case.
 

KatySalcido

Recruit
Messages
6
I'm gonna go with indecisiveness. Sometimes I know that I see a good trade, but what if I'm wrong? What if my bet won't succeed? What if it is an exception to the recommendations? And then three hours later I see that I should have traded.

However, it works the other way too. And it's better to win a little rather than lose everything in a risky trade.
 

EuroTrader

Sergeant Major
Messages
1,033
The best way to know whether you win a trade or lose is to practice. When you have traded many months, you will know that a certain trade setup is forming and it jad performed in a specific way. That will help you decide instantly to trade or stay aside.
 

RachelEB

Private, 1st Class
Messages
69
Biggest thing i see is new traders believing so much hype that is marketed around Forex trading, make x amount of thousands by the end of the week!
 

bigdolly

Sergeant Major
Messages
895
Biggest thing i see is new traders believing so much hype that is marketed around Forex trading, make x amount of thousands by the end of the week!
Yes I think its the biggest problem - strong desire to make profit quick. It leads to taking of unacceptable high risks and wrong trades which of course end with huge losses.
 

EURUSD

Sergeant Major
Messages
1,133
Demo account is needed for sure. I did almost 2 years before going live.
Like as in education stage, treat demo more two years is a good way to minimize the risk while improved skill trading, this is very important to use the demo account if, during two years already profitable, it could increasing confidence to self skill and if ready start use real money, already having the experience to manage money.
 

JamesForexSlayer

Sergeant
Messages
220
Like as in education stage, treat demo more two years is a good way to minimize the risk while improved skill trading, this is very important to use the demo account if, during two years already profitable, it could increasing confidence to self skill and if ready start use real money, already having the experience to manage money.
My 2 years on demo were invaluable.
 

steveday76

Private
Messages
17
When i first started i had a complete lack of understanding and discipline. Because i had read a few books etc i thought i would be able to trade with no problem. I think that a lot of newbies have this problem
 

walpants

Corporal
Messages
74
Biggest thing i see is new traders believing so much hype that is marketed around Forex trading, make x amount of thousands by the end of the week!
yes, if you go into forex believing its easy and your gonna be a millionaire next week like a lot of insta accounts make out you are gonna be extremely disappointed!
 
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