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What is the big mistake?

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

  1. Quinuiacl12

    Quinuiacl12 Recruit

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    One of the biggest mistake that every beginner done is that they become hyper when loss occurs. They try to recover it in a hurry. Which makes them to make another mistake. They makes a blind move which makes them to suffer again in term of loss. Never let emotions to take control over you.
     
  2. Boyd35

    Boyd35 Private

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    It is wrong to change the strategy which you are adopting for trading on the forex market. You have to make a startegy and then you have to trade with that until you fail. This is the best way to learn trading and I always advise traders to do the same. Stick with you plan and strategy for getting success!
     
  3. TrapLok

    TrapLok Recruit

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    I find that frequent changing of strategies on real account might be very risky option. This is why demo account exists. It is traders tool to practice and improve strategy, so changing strategies on demo account would be an appropriate behaviour, not on real account
     
  4. bigdolly

    bigdolly Sergeant Major

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    Yeah only careful testing on demo account you can apply your new strategy on live account it's a kind of hard rule you have to never break.
     
  5. ScottyCarsonMVP

    ScottyCarsonMVP Private, 1st Class

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    Totally agree with this
     
  6. momo3HC

    momo3HC Corporal

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    That`s not the biggest. The biggest 2 mistakes are greed and not learning from it`s own mistakes.
     
  7. bigdolly

    bigdolly Sergeant Major

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    Yes we can say like that in general, but to be precise I would also say that using high leverage and big lots is two crucial mistakes that all newbies tend to commit. And yes this is done because of greed and inability to learn from their own mistakes.
     
  8. momo3HC

    momo3HC Corporal

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    What`s your vision about high leverage?
     
  9. Anthony23

    Anthony23 Recruit

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    I also find that new traders are making mistakes by taking too much leverage. This is basic mistake as they are still not able to make continuous profits, in which sense, leverage will only increase their losses and probably blow their account. Risk management can help here to some extent
     
  10. bigdolly

    bigdolly Sergeant Major

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    The biggest mistake is definitely trading without stop losses. Its same like driving a car without brakes, even if you are good at driving it won't save you from crash
     

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