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

Discussion in 'Beginners Bootcamp' started by jkm, Feb 12, 2015.

  1. CryptoatForex

    CryptoatForex Recruit

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    Don't have too many indicators!
     
  2. dianajs

    dianajs Private, 1st Class

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    I agree with that advice. Which indicators would you recommend to use?
     
  3. TrapLok

    TrapLok Recruit

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    A trader should never become impatient with his trading life. He needs to understand that forex trading requires a lot of patience and stamina for succeeding in it. It will not provide you with the adrenaline rush that you are craving. So, think twice before entering into the market about this matter.
     
  4. dianajs

    dianajs Private, 1st Class

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    Some people do like the excitement Forex trading provokes and I don't think there's anything wrong with that as long as they don't allow it to cloud their judgement.
     
  5. CryptoatForex

    CryptoatForex Recruit

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    ...Stop learning.
     
  6. fxekspert.eu

    fxekspert.eu Recruit

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    Totally agree with the last one.. i think it´s very important to never stop learning. There are always ways to better your skill.

    But I would also add, having too much emotion when trading can make you end up in a huge mess. Most likely, if you lose money you will be upset and if you win you will be euphoric, but it requires a real skill to keep your emotions under control, both happy and not. The market is very changing and you can´t expect to always win and let yourself loose, vice versa you cant be upset about a loss. It´s all a learning process...
     
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  7. CryptoatForex

    CryptoatForex Recruit

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    Good thread this.
     
  8. Forexrider

    Forexrider Private

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    The most important thing that a trader should never do is never overtrade, never over leverage, all of these will only ruin our trading account and recovery time takes a lot of effort and considerable time.
     
  9. nahiyar

    nahiyar Private, 1st Class

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    Before trading decisions it is important to balance your trading psychology . Do training how to react in high or low market conditions with open positions.When a trader is well practiced on demo he will know market mood and will not trapped by favorable market . He will certainly avoid greed , over trading and multiple trading .
     
  10. CryptoatForex

    CryptoatForex Recruit

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    Which is why, after gaining a strategy on demo, it is a good idea to trade LIVE on 0.01. To help with the emotional side of trading.
     

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