Number one mistake

[Anderson]

I see that the biggest mistake that the most of traders do it is the trade with huge lots and high risk to profit with no plan or money management so this is the reason of the loss to a large portion of traders. So i think that we need to control on this and dependably maintain a strategic distance from the trade with high risk and with huge parts in light of the fact that the trade with plan is the best thing that dependably lead us to the achievement. At least we should follow 1:1 risk and reward ratio because a survey shows that most traders are right in more than 50% times.

 

[The trader]

mostly believe paid course ,
so many paid course right now available in online and most of them are found to be scams. so beginners have to be more careful when choosing a learning platform.

 

[Tom Latham]

When I was a new Forex trader then my number one mistake was judging my own trading strategy too early; when I got only 3 TPs; I opened my live account instantly; as a result I lost my 1st live account within just 8 hours!

 

[Tom Latham]

Actually their mistake is risk management. When you don't know how to reduce risk, you use too much leverage and volume. Every trader who wants to succeed must understand the concept of risk management.

Correct! Besides; traders need to focus on the consistency instead of unrealistic success!

 

[Svetlana Loboda]

I see that the biggest mistake that the most of traders do it is the trade with huge lots and high risk to profit with no plan or money management so this is the reason of the loss to a large portion of traders. So i think that we need to control on this and dependably maintain a strategic distance from the trade with high risk and with huge parts in light of the fact that the trade with plan is the best thing that dependably lead us to the achievement. At least we should follow 1:1 risk and reward ratio because a survey shows that most traders are right in more than 50% times.

No doubt; over trading & over lots leading this area! Whatever; greed is the core point; so traders need to play with their real money based on a proper game plan; which is known as money management!

 

[Tom Latham]

It is a proper plan to use a demo account to plan your trades. If your intended capital is $1000. Get a demo account with same amount of $1000. Then try the risk management rule and ratio. Try use steady in each trade a 2% of your capital. This way even if you lose, you lose only 2%. Forexchief broker is the best to use as a fresh trader because they give you up to $500 extra bonus to add to your live account when you want to go live. The spreads are lower and execution speed is good.

This is very crucial point; using the same amount would be a really great idea!

 

[Lee Mark]

Investing too early; that was my main problem in my early days! Basically I was too excited for live trading; as a result faced MC for a couple of times!

 

[Andrew McCalam]

Losing money is a regular part of Forex trading . there is none who can avoid loss completely from here in spite of good trading knowledge . but by taking some major steps loss can be reduced of course. Behind the losses the main reason is emotions that cannot avoid the traders especially the new Forex traders.

 

[Fx Master]

There is nobody who can predict the real faction of this market with certainly, that’s why for making profit with certainly we the traders have to depend on our trading strategies that we select according to our trading experience , we have to choose the platform that is more appropriate to the concept of trading that will be used , if you love scalping should choose the broker that allows trading concept such as this.

 

[Svetlana Loboda]

Risk management is very crucial; now I am not using more than 2% risk in a time. Because, I know the bad phase of over trading.

 

[Faal]

exactly , market moves according to its own style , but sometimes we traders fall a great trouble when it doesn't follow at any trend , in that time only stop loss can reduce the losing percentage.

 

[Andrew McCalam]

there is no one who can deny the importance of demo, but the main problem when we see lots of difference between demo and live at the same time.

 

[Faal]

Yes without passing a long time it is not possible at all to lead a healthy trading life with certainly, because the success in this market is related with long term process. But practically mostly traders in particularly the newcomers try to make success very rapidly and fall a great loss when trading practically.

 

[Direbringer]

I would assume it's the bad broker anyway for many of them, am I right or not? I do hope it will be done by some big article out there for many many reasons. But what we really can do on so many positive things being done completely?

 

[Tom Latham]

Nice to see, all of the forum members are sharing their own part; that’s the beauty of this trading community!

 

[Astirewien]

My biggest mistake that I wasn't trade enough on some demo account anyway for basically any reason out there so I could get ahold of them clearly and carefully by many many standarts out there. Can you really make it possible? I do not get it.

 

[Dextor Mason]

Major mistake done by all newbie traders is almost the same.

Using complete capital for only one trade.
OR
Selecting an improper trade size...

 

[Andrew McCalam]

the result of hardworking never lies at all , but of course sometime besides depending on hard working have to rely on luck , its my own experience , please dont take it personally anyone.

 

[Smash Fun]

Leverage in the Forex market could extend up to a proportion of 1:500. Although leverage provides an opportunity to trade more money on the market keeping risk capital at the minimum, which leads to a massive gain, it can also amplify the potential to incur significant losses, if the market starts moving in an unintended direction. Using too much leverage could result in large losses even if there is only a small move against the trader’s position.

 

[Oscar Shumack]

One of the most common mistakes in forex trading is to trade without any plan or strategy. If you want to make money from this risky market, you need to make a proper plan. Without any plan your investment will be in great danger. So, make a profitable plan before trading in the forex market.