newbie mistakes

Maria LMFX

Company Representative
Messages
24
Hello GQuiqz67,

It is absolutely normal to make mistakes at first but you can always improve by practicing.
My advice is to start with a Demo account first which eliminates the risk of losing real money. You can always set up an amount and leverage of your choice and try a few different strategies.
I'm pretty sure Demo account will make you confident enough to go live.
Wish you profitable trading!
 

Doctor911

Recruit
Messages
14
Certainly I would agree that one of the major mistakes is coming from newbies too heavy focus on money and profits. They forget the fact that experience is major profit driver on this market
 

Faelar

Private
Messages
37
It seems to me that the biggest problems of beginner traders are rush and confidence. The first one is that many people want to immediately see a positive result here and now and it leads to mistakes. The second is that even having studied the most frequent mistakes of traders, many beginners think that this is complete nonsense and they will not allow such things. And as a result, little time and attention is paid to preparing themselves psychologically and learning to cope with emotions, fear, etc.
 

bigdolly

Sergeant Major
Messages
944
It seems to me that the biggest problems of beginner traders are rush and confidence. The first one is that many people want to immediately see a positive result here and now and it leads to mistakes. The second is that even having studied the most frequent mistakes of traders, many beginners think that this is complete nonsense and they will not allow such things. And as a result, little time and attention is paid to preparing themselves psychologically and learning to cope with emotions, fear, etc.
Inability to admit mistakes and excessive focus on short-term results lead to the result that you described. And indeed as you said it happens because of lack of control over personal emotions.
 

Rick Beesley

Recruit
Messages
31
Yeah, we all been there. We made mistakes. But we've recovered. We've risen from the ashes like Phoenix. DON'T LET your past determine your future! Learn on your mistakes - and move on! Wish you all the best!
 

aylmerk

FPMarkets Multi and Spammer
Messages
12
Common mistake, Treating your live account as you did in your demo, its never the same.
Not having a stop loss.
Adding to an unprofitable trade and another common on lack of risk management.
 

EuroTrader

Sergeant Major
Messages
1,039
First mistake is to switch to live account after a little practice than think to demo and real trading the same . we can not treat them in same manner need to see our capital and then use the risk ratio accordingly.
 
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