newbie mistakes

[Shaun89]

Thinking about profits before risk rather than the other way around.

 

[kim855]

I think you learn quickly from early losses. There are lots of really good online training which has definitely helped me.

 

[nahiyar]

Yes, if at early-stage traders got just profit they will become overconfident and think they are born just for making a profit they will think themselves perfect, Improvement in trading need some struggle and losses are good if traders want to avoid loss they will be eager to learn right ways of trading. There are lot f sources to know new things and learn new techniques to avoid mistakes.

 

[Akwin]

Risking too much and getting emotionally attached are the two biggest pittfalls for new traders.

Yes, we should not risk more than 1% of our accounts on a trade. In other words, we shouldn’t lose more than 1% of our trading account on a single trade. Moreover, we should control our emotions, since anxiety, thrill, fear, doubt, and other feelings will affect our trade negatively.

 

[Albert Dcosta]

The 1% per trade depend on your account size If your account is 500$ then 1% is not a big deal. I would risk 1% if my account is about $5000 On smaller accounts we can always risk more than 1%

 

[Kokomaster]

Early losses are important because traders not got imaginations and not expect high from trading, These losses compel traders to see their mistakes if they want to go ahead. All the time mistakes are not bad they are good teachers for you. As we talk about newbies they definitely do mistakes it is not strange you will learn from it a lot

 

[wtf888]

Most newbie too trust in ads where account management service provide guarantee return. Those are fake and 100% risk is bear by investor(newbie)

 

[Akwin]

Most newbies get emotional over a lost trade and try to aggressively recuperate the loss, allow their losing trades to simply run all the way to their stops instead of cutting losses early, and they trade without stop loss. I don't know if we can consider having an unrealistic expectation a mistake since having goals in trading can help you stay motivated and disciplined. What do you think?

 

[scott11]

Success in forex does not come overnight. It takes a lot of time and effort to develop one winning strategy. There are no shortcuts. All stages of this process needs to be passed successfully. Patience is a virtue

 

[ele020]

First of all, a newbie makes mistakes and the most common mistake is to be emotional and risk too much initially without having sufficient knowledge of forex. Most of the newbies think of making money in a short span of time rather than thinking of risk associated with it and how to manage losses.