What’s your worst trading habit?

dianajs

Private, 1st Class
Messages
778
My worst trading habit was that i used to over-trade. I couldn't control myself and let my nerves take the better of me. Patience is a very powerful tool in forex trading. You can't expect to survive in forex trading without it. I hope that you will learn before any losses.
Have you managed to overcome that habit? And if you have, how did you do it?
 

nahiyar

Private, 1st Class
Messages
752
To be objective, I don't have enough patience. For example, recently I opend an order to buy eurusd. Everything was good, I was in profit. But then the price started to consolidate and I opened the deal, although then the chart moved to the right way and I could have earned more and I hadn't closed the deal.
Yes it is not a good sign i also face same problem . We should wait for patience,( after quit trading feel if not close then can get this much profit ) Just rely on good analysis and wait for suitable market to get our targets. Some times market goes reverse then come to our side just after it we can gain profit if had courage to loose and patience in trading.
 

dianajs

Private, 1st Class
Messages
778
letting emotion get the better of me
Watching trades too much
Having a plan, but getting too caught up with what was going on and changing said plan
Using too many indicators
I have had the same problems in the past, sometimes I still suffer from them. I think most traders share them.
 

bigdolly

Sergeant Major
Messages
895
It's really bad man. Abandoning your plan is like shooting in your own foot. Have you also implemented the principle of N trades? Like making 5 trades in a week, whatever their result is. I also close my monitor after I make 2 losing trades in a day and cease trading till the next day.
letting emotion get the better of me
Watching trades too much
Having a plan, but getting too caught up with what was going on and changing said plan
Using too many indicators
 

CryptoatForex

Recruit
Messages
185
It's really bad man. Abandoning your plan is like shooting in your own foot. Have you also implemented the principle of N trades? Like making 5 trades in a week, whatever their result is. I also close my monitor after I make 2 losing trades in a day and cease trading till the next day.
Thanks for the advice, it is appreciated. I am working on it.
 

Etedus12

Sergeant
Messages
155
Definitely this is a lack of analysis. I clearly understand that this will not lead me to anything good, but sometimes I just follow trends and disregard to analyze my charts, especially when I’m winning. You know that sense of self-confidence…Still not sure how to deal with that.
 
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