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

downtrend

Sergeant
Messages
868
A trader should never trade without a stop loss. Anything can happen in forex market, it can happen very fast as well. So a stop loss is very important while trading.
 

ForexVerified

Private, 1st Class
Messages
582
Also control your leverage. You don't want to end up losing your entire account in a matter of minutes (or seconds).
 

nahiyar

Private, 1st Class
Messages
782
One thing that a trader should avoid is a high risks in trading .They can choose appropriate risk and leverage . High leverage also a killer if they not manage it on time. Never do trading in volatile market if you have not experience of it . It is quite difficult to handle positions in volatility.
 

EuroTrader

Sergeant Major
Messages
1,039
Also control your leverage. You don't want to end up losing your entire account in a matter of minutes (or seconds).
It is actually true that when we are using a lower trading leverages then the risks that are associated with our trading will also come down :)
 

LuthfiMaung

Recruit
Messages
8
Things you should never do:
1. Don't trade when your emotion level is uncontrollable, you need to relax first! ; and
2. Don't trade when your greed is fulfilling you (mostly happens when traders got affected by some profits)
 

davidshanks

Recruit
Messages
10
This question is very interesting as it would help the traders to avoid the mistakes which they make unintentionally.
1) Don't be over excited or under any emotion as it may or may not lead to a heavy loss. So don't take the risk. :p
2) Don't apply your strategies directly on live account as it would cost you much if the strategy goes wrong. ( Especially for the newbies).
3) Never trade without a stoploss ( my personal experience :( )
 

downtrend

Sergeant
Messages
868
A trader should never trading without a stop loss and he should never consider forex trading as a game.
 

EuroTrader

Sergeant Major
Messages
1,039
A trader should never trading without a stop loss and he should never consider forex trading as a game.
Stop loss is a tool that will help us in being able to control our trading so that our losses are less and we also get such types of opportunity where we can reap Good income :)
 

Ken Smith

Private
Messages
104
Don't come to trading, if you are unwilling to learn the art of trading. Learning means not just knowing the use of some mt4 indicators. Don't treat trading as a gambling. Treat it like investment. Never invest big money unless you are making consistent money for a good period of time.
 
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