What is the big mistake?

Quinuiacl12

Recruit
Messages
54
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.
 

Boyd35

Recruit
Messages
64
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!
 

TrapLok

Recruit
Messages
127
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
 

bigdolly

Sergeant Major
Messages
856
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
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.
 

ScottyCarsonMVP

Private, 1st Class
Messages
59
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
Totally agree with this
 

momo3HC

Sergeant
Messages
151
One of the greatest mistakes I see starting traders make over and over, is changing trading strategies again and again. On the off chance that you are utilizing a coherent, good judgment trading technique like my value activity strategy, you have to truly learn it and ace it before you do whatever else. On the off chance that you bounce from technique to strategy since you think you'll locate some "Holy Grail" trading procedure, you are just working on false expectation and being strange, and you will lose money.
That`s not the biggest. The biggest 2 mistakes are greed and not learning from it`s own mistakes.
 

bigdolly

Sergeant Major
Messages
856
That`s not the biggest. The biggest 2 mistakes are greed and not learning from it`s own mistakes.
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.
 

momo3HC

Sergeant
Messages
151
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.
What`s your vision about high leverage?
 

Anthony23

Recruit
Messages
83
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
 

bigdolly

Sergeant Major
Messages
856
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
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.
 
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