Number one biggest mistake

[Anderson]

Number one biggest mistake new trade do is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.

 

[Mary78]

I agree on that. I see many beginners just trying their luck in forex and not taking it that seriously and passionately. That ios where they lack. Completely understanding the field and working hard to achieve excellence is a must to earn profits here. No hit and trial works.

 

[kupz]

and never trade it as a gamble. it will always back fire 100% haha

 

[Shalidwyndont]

Yes, one of the main problems of new traders is the perception of trading as something easy and uncomplicated. But there is another problem of newcomers, on which they are often caught. I am talking about gambling. Many new traders perceive trading as some kind of game, in which they play like in a casino. Only they don't understand that trading is not a set of accidents, but a structured thing. And that only through experience and knowledge can you benefit from it.

 

[Ebba]

Not giving due advantage to learning, that the biggest mistake for me. Coz if the base is only not strong, how can you think of doing something rock solid. Your trades will go into losses in no time. so learning well is very important.
Another big mistake is trading out of greed. Many loose their money because of this.

 

[ZhoGorisar]

It's true. But you can't relax and expect quick results in this case.
You have to act calmly, thoughtfully and without panic.
And to do this, every trader must learn and develop. And it is necessary to get some experience, so that the further way on the market will be more and more productive.

 

[Astirewien]

A non-serious approach to trading is the worst mistake of all beginners (and sometimes not only beginners make this mistake). It's very important to develop the right approach to trading, so that trading doesn't feel like a hobby later. Don't forget that in trading on a real account is filled with money, which makes trading a business. It is important to remember this for everyone - not only for beginners.

 

[Darragh Bell]

One of the most common mistakes of a trader is to try to earn money quickly. It is very dangerous. You can lose all your investment if you can't take the right decisions at the right time. So, don't be hurry. Make plans and do trade according to your plans and try to earn money consistently and slowly.

 

[Mark Dahl]

Traders should make a good trading plan with the right risk-return ratio. But the main challenge is to stick to that plan as traders often fail to do that. It's natural for humans to lose money and want to make a quick profit, but it's a bad idea. You need to overcome this natural tendency and remove your feelings from the trading decision.

 

[Gito Dinev]

New traders often neglect the importance of a demo account and try to trade in the real account without knowing about the market.

 

[Eduardo Lucchese]

New traders often neglect the importance of a demo account and try to trade in the real account without knowing about the market.

Yes. Demo is a must thing for new traders.

 

[Alicia Lynch]

Skills and education should be acquired as a new trader. Trading profit will be impossible if skills are not properly developed.

 

[Cooper Truebridge]

Forex trading requires developing skills and trading education. If a trader wants to make a lot of profit in trading without developing skills, he will never be able to survive in trading.

 

[Benjamin Bryne]

Yes, you are right. We think a lot of money can be made by trading in Forex trading. This is our misconception. In Forex trading, 90% of traders lose and drop out of the market. And those who survive trade with the right plan and discipline.

 

[Alexander Hudson]

Lack of knowledge is the main cause of making mistakes in trading.

 

[Benjamin Bryne]

Forex trading should never be considered a money-making machine. Positive mentality and trading education can help me make a profit.

 

[David Marco]

Number one mistake is trading without proper knowledge.

 

[nicktheking]

Not using stop loss is the biggest mistake

 

[Kevin Vogt]

Not focusing on learning is the first biggest mistake one can make. Making money by trading is not possible if you are not enough skilled and experienced.

 

[Kazumu Fukunaga]

Most amateur traders jump to open big lot size as it brings immense profit. But a big lot size can transform into a bad dream. You can get a margin call. Don't risk more than 2% of your capital. You didn't say how much capital you have. Lot size depends on trading strategy and capital.