1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

What is the big mistake?

Discussion in 'Beginners Bootcamp' started by Jeff Martinez, Oct 4, 2017.

  1. Naxramos

    Naxramos Recruit

    Joined:
    Dec 22, 2017
    Messages:
    117
    Likes Received:
    6
    In my opinion, newbies' biggest problem is that they lack patience. As a rule, just after the first losses the majority leaves the market.
     
  2. MarryLo

    MarryLo Recruit

    Joined:
    Jan 31, 2016
    Messages:
    51
    Likes Received:
    2
    Traders are always advised to stick to one strategy and do not panic if it goes wrong 2 or 3 times of 10 trades. But if it does not work consistently then you have to change your strategy and build a new one.
     
  3. downtrend

    downtrend Sergeant

    Joined:
    Dec 13, 2014
    Messages:
    835
    Likes Received:
    46
    Patience is really less in almost all traders. We just open a terminal and start trading normally. There is a big need for patience before start trading, as people go to live account very early they had no patience to have more practice. Then they not wait for a proper time of trading do trading with poor analysis. It is a big mistake when one not develop patience in him.
     
  4. dianajs

    dianajs Private, 1st Class

    Joined:
    Dec 9, 2015
    Messages:
    778
    Likes Received:
    38
    True. Strategies don't tend to be 100% successful, but when the successes are much more numerous than the failures than the strategy works. However, one should not be afraid to change and adapt if their strategy is not working.
     
  5. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,089
    Likes Received:
    33
    I think there are no perfect strategy in forex trading, sometime we facing with difficulties on certain condition, but we can learn from our experience how to making betterment strategy to overcome many kinds market condition which full uncertainty, need trial and error to learn this
     
  6. dianajs

    dianajs Private, 1st Class

    Joined:
    Dec 9, 2015
    Messages:
    778
    Likes Received:
    38
    Every strategy has its flaws and strong sides, the important thing is to find the strategy that suits the best as individuals.
     
  7. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,089
    Likes Received:
    33
    Yes you right we will choose strategy that suit with our soul, sometime we reading from another trader strategy seems very profitable, but when we try it still getting failure because different psychology and making us not comfortable to trade, so we also need using risk management here
     
  8. Desacete

    Desacete Recruit

    Joined:
    Aug 31, 2015
    Messages:
    156
    Likes Received:
    3
    The biggest mistake anyone in forex trading can do is continuously changing their trading strategies. Another big mistake is that people get patient and let greed get in the way of their thinking. Any other big mistakes you think people make.
     
  9. scott11

    scott11 Recruit

    Joined:
    Feb 6, 2016
    Messages:
    97
    Likes Received:
    3
    When the loss happens many trader do a mistake to recover it by taking a risk. There is only one percent chance they became successful. This is very wrong thing they do they should have to do some small moves with small investments to recover the loss.
     
  10. EURUSD

    EURUSD Sergeant Major

    Joined:
    Mar 3, 2015
    Messages:
    1,089
    Likes Received:
    33
    Its rare trader that having 100% winning trades, if there exist I think only a few traders, in fact so many traders can`t maintain performance to making consistent profit, loss still occurred on certain time, but we can learn how to develop our strategy and find big mistake on trading, usually greedy or be trading with high-risk taker is one reason why trader getting quick loss or margin call account
     

Share This Page