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Bad habits of beginner traders.

Discussion in 'Beginners Bootcamp' started by Jeff Martinez, Oct 27, 2017.

  1. Morten

    Morten Corporal

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    The worst habbit of new and young forex traders is that they listen to people who have zero knowledge or experience of forex trading. They listen to these people and start doubting their abilities. Always listen to people who have experience in trading.
     
  2. nahiyar

    nahiyar Private, 1st Class

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    Actual fault is in thinking because beginners had low learning , cannot differentiate between valuable and non valuable knowledge they should not waste their time in listening dreaming success stories of others. Just see what they can improve by any knowledge they get other wise go for more helpful things , focus on practice of trading it will give them real learning according to their own goals.
     
  3. Ross Bourque

    Ross Bourque Banned multi and spammer for ForexChief

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    Maiden Journey is always a tough path for anyone no matter in which field a beginner is trying his luck. And when we are talking about start journey of trading in the world market like forex; a beginner should be aware about all infrastructural benefits or disadvantages of this world currency exchange market. It is true that it is easier to get access in the forex market when compared to other financial markets like stock exchanges. But when there is no doubt on the ground that each trader is unique.

    So; before start trading with the live accounts; a trader should practice demos to determine what are best for him; what his strengths are or what his weaknesses are. By this method; he can better be able to prepare him from any negativities of psychological war.
     
  4. Naxramos

    Naxramos Recruit

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    One of the bad habit in beginners is they came in the forex market without knowing anything about the market. They came here and invest their money making a wrong moves and loses their money. They didn't have any knowledge how to recover the loss so they quit.
     
  5. dianajs

    dianajs Private, 1st Class

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    True, one needs to learn the basics at the very least before they begin trading. After that learning is a matter of time and effort.
     
  6. nahiyar

    nahiyar Private, 1st Class

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    Yes entering in fore market with blank skill is totally wrong. Beginners take it easy to face forex market they do not realize involving risks specially early entry to live trading is a big mistake. Then they not show patience for learning , try to get high profits as early as possible . These things are a big hurdle in learning and getting knowing forex trading.
     
  7. Candice_123

    Candice_123 Recruit

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    One of the major mistake beginners make is to place giant trade sizes. Go for small lot size and trust your strategy.
    Another widely practiced mistake is setting stop loss very near to avoid major loss. But the market needs a little space to act as per your strategy. Set your SL at a point where it is not too far or too close to your price.
     
  8. dianajs

    dianajs Private, 1st Class

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    I agree, but one should also learn to place the SL appropriately, because a poorly placed one also leads to poor results.
     
  9. scott11

    scott11 Recruit

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    One of the bad habits of new traders is that they rush things. They don't give time to themselves before making any decisions. They think they can conquer the forex world within no time. They need to understand that patience is the name of the game. Just give time to everything.
     
  10. Morten

    Morten Corporal

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    One of the bad habits of beginner traders is that they trade in forex under the assumption that it is easy to earn profits. They need to remove this thought from their head. You need to dedicate a lot of time and effort in forex trading and still there is no guarantee that you will become a successful trader.
     

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