Bad habits of beginner traders.

Clay Davidson

Recruit
Messages
98
The worst habit of beginning traders is a wish to get everything right now. The market doesn't like such traders, because it's impossible to get everythingright now. In my opinion, novices have to be wise and have a wise approachto trading, otherwise they will be eliminated by the market too fast. Of course, there are some traders who get success in very short period, however it's just a unique case. The vast majority of traders are eliminated by the market because of their wishes to get everything right now. So, never rely on luck in trading, because it literally doesn't work. Rely only on your personal knowledge, experience and skills.
 

Manalmeena

Private
Messages
34
The main bad hbit which all new traders have are hopes for fast money. I wish all beginners would inderstand this rul that there are no fast money in trading. Of course, once you can be lucky with the position or maybe twice, but it doesn't mean that you will get this fast money all the time. To my mind, new traders should learn and practice lot before getting started trading on a real account, because it can easily lead them to bad consequences.
The more time new traders will dedicate to practicing the more chances to become successful they have actually. As far a I concerned, the main mistake is rushing.
 

fxoday

Recruit
Messages
727
Indeed most novice traders when they find forex as a money-making machine, assume trading is a short term way to get earning, hope fast money in forex is only a dream, sometimes dream still unrealistic, different from reality, before they have a high dream, better wake up and learn how to achieve the dream.
 
Messages
296
The worst habit of beginning traders is a wish to get everything right now. The market doesn't like such traders, because it's impossible to get everythingright now. In my opinion, novices have to be wise and have a wise approachto trading, otherwise they will be eliminated by the market too fast. Of course, there are some traders who get success in very short period, however it's just a unique case. The vast majority of traders are eliminated by the market because of their wishes to get everything right now. So, never rely on luck in trading, because it literally doesn't work. Rely only on your personal knowledge, experience and skills.

So true, patience pays in this game and it is not a straight line trajectory to success sometimes your progress falls off a cliff for no apparent reason but once you have resolve you'll get there imo
 

FriendlyFX

Sergeant
Messages
245
It's all about the emotional aspect .
Even keeping a check on your emotional side when your winning as it can give you a false sense of security which can be shattered by a unfortunate losing streak
 

veselina

Recruit
Messages
1
When I've started to trade it was funny how I've been trading: open a buy order, the price goes down, open another one, again it goes down etc until got the 0 balance xd
 

sebking1986

Private
Messages
558
When I've started to trade it was funny how I've been trading: open a buy order, the price goes down, open another one, again it goes down etc until got the 0 balance xd
Funny how refusal to take a loss kicks in which nearly always leads to a much bigger loss.
 

FriendlyFX

Sergeant
Messages
245
I remember moving my SL deeper as I was convinced my bias was correct just needed a little more wiggle room ! Lesson learned
 

Vivaan Jua

Private
Messages
20
Interesting point is, the bad habits are very common, such as avoiding money management rule, gambling and emotions! So, I believe new traders need to start their trading with demo practice; they should learn Forex by the virtual money, not by their own real capital!
 
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