newbie mistakes

[JayJones]

Sometimes trader when trading in demo start with big capital, but later in real trading use smallest capital, I think will good if work in demo to learn with uses the equal number funds that will investing later in real account, let say $200 for starter then in demo set up to use $200 too

Can you have a demo account that small though? (I agree in principle)

 

[ele020]

I’m relatively new myself, I began off with demo trading for a few months. Now I’ve been spending time trading with small accounts before investing a substantial amount.

That is the correct way to proceed. Good going. All the best.

 

[Zlatan]

The worst mistake of everyone (not only newbie) is excitement for my opinion.

 

[JayJones]

The worst mistake of everyone (not only newbie) is excitement for my opinion.

Please explain

 

[Keithstyles1]

Hi guys so relatively new to the forex market and unfortunately I've suffered pretty high loses the past week, I know where I've went wrong and I'm kicking myself for it but I'm wondering how many of you all have made the same mistakes and wiped out your account or come close to ? I've been involved for just under a year following signals but then decided to do my own trades with very limited education, cocky on my part and I've now (hopefully) learned from my mistake.

I usually learn from my mistakes and now that I've experienced this I'll be sure not to do it again. I was literally eating my dinner and took my eye off the chart for 1 minute and in that minute I was wiped out the trade in a flash resulting in alot of capital being taken out.

I'm looking at Chris Caper for the mentor course at 2ndskiesforex which has good reviews on here, interested in it as its quite big on mindset, anyone on here had much success from it?

I'm determined to make a success out of this and look at losses the way I look at any other business expense, luckily the loses I can afford and I'm not too bothered about it but I know it was down to not following the basic rules, I thought I could capatalise on the XAUUSD situation and gain quick profits but I was wrong.

Thank you in advance for any support and feedback

Hi guys so relatively new to the forex market and unfortunately I've suffered pretty high loses the past week, I know where I've went wrong and I'm kicking myself for it but I'm wondering how many of you all have made the same mistakes and wiped out your account or come close to ? I've been involved for just under a year following signals but then decided to do my own trades with very limited education, cocky on my part and I've now (hopefully) learned from my mistake.

I usually learn from my mistakes and now that I've experienced this I'll be sure not to do it again. I was literally eating my dinner and took my eye off the chart for 1 minute and in that minute I was wiped out the trade in a flash resulting in alot of capital being taken out.

I'm looking at Chris Caper for the mentor course at 2ndskiesforex which has good reviews on here, interested in it as its quite big on mindset, anyone on here had much success from it?

I'm determined to make a success out of this and look at losses the way I look at any other business expense, luckily the loses I can afford and I'm not too bothered about it but I know it was down to not following the basic rules, I thought I could capatalise on the XAUUSD situation and gain quick profits but I was wrong.

Thank you in advance for any support and feedback.

Get a demo account and get some advice and knowledge from babypips

 

[TareqS]

Sorry to hear that. There is a saying that invest your time before investing money. Did you take enough time/lesson before jumping into live trading? Take your time; do demo trading until you are confident with your strategy. Once you start making consistent money on demo account, you may be ready to trade on live account then.

 

[FriendlyFX]

Is there any way you can set your balance on Demo other than intentionally making big losses ?

 

[FriendlyFX]

Have a look at this link you will gain more knowledge

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Best resource along with here of course !

 

[ele020]

To be emotional and risking high seems to be the same when traders are in greed they take high risk without realizing its bad effects on capital. Only one motivation is behind it that they want more money in a short time period rather than they are able to manage this risk or not . Mostly we see taking risk is easy but when they are in difficulty to manage they had no way to come out safely.

Risk management is one of the key principal of trading. No trader should ignore it.

 

[Jose.Ser]

When I was a newbie, I made the first mistake by rushing into forex with minimum knowledge and demo experience. Many newbies make this mistake because they think forex is more like gambling and tend to start early, which ends up losing all your invested capital.