Bad habits of beginner traders.

dianajs

Private, 1st Class
Messages
778
And what was your solution to your trading mistakes? Is it some exclusive know-how or the answers are known to public or written in books?
My solution was two things - gaining experience and engaging in self-reflection to figure out where I did wrong. Mind you, I am still working on my mistakes, I am very far from not making any of them.
 

bigdolly

Sergeant Major
Messages
920
My solution was two things - gaining experience and engaging in self-reflection to figure out where I did wrong. Mind you, I am still working on my mistakes, I am very far from not making any of them.

Yeah learning on your mistakes is your best way to study. Every trader should go through its own hard path of learning, it is pretty different from trader to trader.
 

EURUSD

Sergeant Major
Messages
1,133
Yeah learning on your mistakes is your best way to study. Every trader should go through its own hard path of learning, it is pretty different from trader to trader.
Like as some people said, experience is the best teacher for us, if we can learn from our mistake and able to learn better from our experience, hence it will get betterment trading skill, avoid bad habit during trading like as using big lot size, or rush and panic, sometime newbie rush if look small profit floating then closed immediately but if look loss floating hence let account get margin call
 

downtrend

Sergeant
Messages
863
Depending on your personality types your trading habits are also change from one another. Some traders are shy to take risk , others are very risky ,both do wrong . Over confidence , not use stop loss in trading , hurry , use bid lots, having no management plan are also bad habits of traders.
 

dianajs

Private, 1st Class
Messages
778
Yeah learning on your mistakes is your best way to study. Every trader should go through its own hard path of learning, it is pretty different from trader to trader.
True, every experience is different because different people have different learning curves and different circumstances under which they study how to trade.
 

AlecR

Corporal
Messages
79
Many beginners are in a hurry of making profit so first step should be learning and following the trading strategies with discipline otherwise trade may goes against and loss may occur.
 

Tommymccloud

Recovery Room Scammer
Messages
7
yeah we should be careful when seeking for help,so we dont fall to the wrong hands after many years
of losing in binary trading I finally got a strategy,
Trading binary options is much more easier than trading forex why? Understanding the signals it gives you can
apply strategies to it and become successful,Binary trading has its own risk and advantages. What determines your
earning is your strategy. My strategy earns me weekly payout, That to me is an amazing performance.
 

pwettyanabel

Recovery Room Scammer
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4
Of course traders should need to know important events that can effect market even international big news also important. Their all calculations and plans should be related to market . As they will work and analyze in forex they will get better idea when and how to trade. If they remain away from personal and emotional decisions they can work good.
There are many mistakes a newbie trader can make and they usually stem from lack of knowledge and experience. In order to avoid them as much as possible it's a good idea to both trade on a demo account and to stick to what they do know as they gradually expand said knowledge.
 

Tommymccloud

Recovery Room Scammer
Messages
7
I also like long term strategy . It helped me to gain small profits. Gradually I work on long term ,Long term strategy needs a lot of experience as well as good capital , Because we have to plan it well
 

dianajs

Private, 1st Class
Messages
778
I also like long term strategy . It helped me to gain small profits. Gradually I work on long term ,Long term strategy needs a lot of experience as well as good capital , Because we have to plan it well
What time frames do you use for your strategy?
 
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