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

[david moore]

What are the things that a trader should never do?

Agood trader should not try to do these things:

Don't try anything too clever or overcomplicated.
Don't trade mindlessly.
Don't make too many trades.
Don't be too aggressive with position sizes. Know you risk. Only commit capital you can afford to lose.

 

[Albert Dcosta]

Agood trader should not try to do these things:

Don't try anything too clever or overcomplicated.
Don't trade mindlessly.
Don't make too many trades.
Don't be too aggressive with position sizes. Know you risk. Only commit capital you can afford to lose.

I am not a trader would would say that i just make profits in my trades because that is not the case and that will never actually happen.

The main thing is that many times i am making losses in my trading but then i have found a way using which i can control such losses

 

[Aaron Dias]

I am not a trader would would say that i just make profits in my trades because that is not the case and that will never actually happen.

The main thing is that many times i am making losses in my trading but then i have found a way using which i can control such losses

Yes the loss will be there as long as we are doing our trades in the Forex markets. But again we have to understand that losses can be reduced if we are more intelligent traders.

 

[Antonio_84]

Never trust unknown broker.
Never share your trading strategy.

 

[Aaron Dias]

Never trust unknown broker.
Never share your trading strategy.

I will always make sure that in my trades i am using a ECN Forex Broker. This is also because in this type of trading the Broker is not a party to your trades.

 

[elena sarkees]

Never invest all your capital in one trade simply keep some backup for the hard times because in this field hard times are veryyy easy to come

 

[nahiyar]

yes it is nice advice specially for new traders who are attracted by money making opportunity of forex. They invest all their mount at first step . They should first test them by investing a little amount so that they will not loose all their money.

 

[Aaron Dias]

yes it is nice advice specially for new traders who are attracted by money making opportunity of forex. They invest all their mount at first step . They should first test them by investing a little amount so that they will not loose all their money.

Whenever we are trading at first we do not have to think about making any profits in our trades and we should just think about learning the best way of trading in these markets

 

[downtrend]

A trader should never trade without a trading plan. As trading plan covers all the aspect necessary for good trading so the biggest mistake by a trader is trading without having one.

 

[bigdolly]

Well there can be a full article on this, but I think as a trader there are a few necessary points that you should consider before trading:

• Do not always invest on the basis of your instincts.
• Avoid further trading if you continuously losing on a given day.
• Do not trade with all your money.
• Do not trade on self-basis or full-time broker, however you can trade with direct access broker.
• Don't let go of your anxiety and emotion.
• Don't blame any third party or any other individual for your losses.
• Do not trade without a proper analysis of the market.

A really great input. I would emphasize the importance of keeping yourself away from over trading, for example getting 3 SL's in a day you should stop trading and get rest, cuz something is going wrong.
Emotions are also a crucial factor affecting trading results so we have to find a strategy on how to eliminate them from trading (I guess it should be strict must-to-follow trading plan).