question- what are the things that a trader should never do?

[jkm]

What are the things that a trader should never do?

 

[Pharaoh]

This could be a long list. Here's a few to get you started.

1. Never open an account without carefully investigating the broker.

2. Never let a broker employee place a trade in your account or accept a trade recommendation from a broker employee without independently confirming the trade setup.

3. Never trade without a stoploss in place.

 

[jkm]

This could be a long list. Here's a few to get you started.

1. Never open an account without carefully investigating the broker.

2. Never let a broker employee place a trade in your account or accept a trade recommendation from a broker employee without independently confirming the trade setup.

3. Never trade without a stoploss in place.

Thankyou Pharaoh....these are helpful.

 

[FxMaster]

Let me add few points...........

Don’t start trading with real money. I mean first learn how to trade on demo till you get confidence on your self and then jump in to live trading.

Never deposit big amount at start up, check the broker with small deposit.

Always read reviews and complaints about the broker before you open account with them.

Best Of Luck

 

[victoriajensen]

Don't start trading on Monday before checking the economic callendar for the entire week - getting surprised by high volatility caused by a big economic event you had no idea about can be very unpleasant.

 

[downtrend]

A beginner should NOT start trading directly using real money. He should trade first on demo for at least 3 - 4 months. Only then he will become able to understand some what about the working of the market.

 

[iMusingKiMi]

Newbie Trader
Never trade in DEMO when you 1st approach and new to the market.

Rookie Trader
Never think you know everything, because it is endless learning in trading.

Advance Trader
Never keep too many system in your head.

Pro Trader
I don't know

 

[NicholasM]

Newbie Trader
Never trade in DEMO when you 1st approach and new to the market.

Rookie Trader
Never think you know everything, because it is endless learning in trading.

Advance Trader
Never keep too many system in your head.

Pro Trader
I don't know

Pro trader? Well, the Forex market has "No Pro". But there are few traders out there who just keep on turning profits. Nonetheless, I think a pro trader should never compromise his/her expertise by being over-confident. Anything can happen in the world of Forex, and the more we think we are in absolute control, the more we are likely to let our guard down.

 

[OlafYom]

Yeah, but still...trading on demo is quite different from trading with real money. When you trade on demo you don't use your money, so you don't have to control your emotions because you don't miss anything if you meet with losses.

 

[nahiyar]

yes it happened we are more relax while trading on demo account . In real trading we face emotional situation. A trader should never apply results of demo on real his performance will totally different when h will trade with his own amount.