Admitting your weakness as a trader

[Daisy]

I know that when you recognize and admit your weakness, you will then become a better trader. Its like the Forex anonymous program you know. Once you know you have a weakness you will work harder to improve it. I have a weakness. I admit to looking at the broker's chart way too often and way too many time in a day and this is not good. I must have cause massive traffic jam for keep coming to their website. I will not go out but sit in front of the screen all day long. I will try to curb this by not looking at them during off hours or weekends as there is no reason to stalk them. How about you? What is your weakness?

 

[sindarin]

I admit that my weakness in sometims i cannot control my patience and prefer to trade in order to make profit, actually this is what increasing my loss lot rather than before, also in from what i see that i usually prefer againts market especially when i am in hurry to make profit in forex.

 

[tray]

Every trader have a weakness to be sinncere and as per this I think that traders who dont see reason with his trade will never comeout with something good as well so we all need to look into our weakpoint as well

 

[Daisy]

I admit that my weakness in sometims i cannot control my patience and prefer to trade in order to make profit, actually this is what increasing my loss lot rather than before, also in from what i see that i usually prefer againts market especially when i am in hurry to make profit in forex.

I think many traders have the same problem like you, and they are wanting to trade all the time and open trades that could end up being losing trades. I try to be patience but sometimes the opp are golden so I get hasty but I control my money so at least I don't lose as much. I'm a long term trader so I do not lose as much as scalper since my risks are lowered when I buy really low and sell high.

 

[hasan87]

Weakness is a part of human nature. Yes, I think one can reduce or recover his own weakness by admitting them. He also should work on his weakness because weakness is also harmful for trading. So a trader should admit his weakness and the work on that to recover the weakness.

 

[Daisy]

I mean when it comes to making quick and easy money everyone has a weakness to it and I think one common one is greed and then rushing yourself to trading without proper knowledge and practice. I think those are huge mistakes. I also think mistakes like using high leverage cause they're greedy is another weakness and then trading while they're drunk is another weakness.

 

[Pettyeve]

It is good that a trader will be able to admit his or her mistakes. This thing will be able to make them to learn. When you know your mistakes, then you will be able to learn from it and to know how you can control it.

 

[sindarin]

I think many traders have the same problem like you, and they are wanting to trade all the time and open trades that could end up being losing trades. I try to be patience but sometimes the opp are golden so I get hasty but I control my money so at least I don't lose as much. I'm a long term trader so I do not lose as much as scalper since my risks are lowered when I buy really low and sell high.

Yeah it is hard especially in big news such as NFP or GDP usually i am little careless there, and usually opne more than 2 positions in order to make profit but in the end getting loss all of the money that i use to open those positions.

 

[tray]

Fear is just one of those thing which might just not need to be neglected but I see so many trade in the forex market thy dont even talk anything about fear all they do is to keep trading without working on their emotion and controlled their fear and employed patience

 

[kasual]

Indeed, by knowing our weaknesses, we have chance to be better again because enabling us to create solution. That is what happen in life and it applied too in trading. By know what potentially will become a problem, we have chance to create anticipation and use the approach which potentially, don’t expose our weaknesses to come up and give us losses in trading.

 

[Pettyeve]

Some of the traders who fail in here in the forex market is because they are not able to know where their weak point is. This thing will make them not to be able to discover what is the main cause of their losses. Every trader has his or her own weakness and better if the trader discover it quick.

 

[sindarin]

Some of the traders who fail in here in the forex market is because they are not able to know where their weak point is. This thing will make them not to be able to discover what is the main cause of their losses. Every trader has his or her own weakness and better if the trader discover it quick.

But admitting it does not make you a great trader , fixing it that will make you different from what you are used to be. I think that many traders also does not want to admit or simply admit it but does not make any changes to theirselves.

 

[Arafat sani]

Actually, I do believe that, when you recognize or admit your weakness, then you will be a better trader. In my trading life I was not able to make profit regularly because of lacking trading skill and it’s my foremost weakness. I am also not capable to control my emotions or greed. But after joining MXTrade I have overcome my trading lacking very quickly. I have gathered most powerful analyzing trade knowledge because this trading platform has huge educational facilities especially the Forex eBooks. I have known traders psychology and behavior with essential concepts and terms by doing this course. Otherwise, I got most powerful tips for successful trading and also known how to use trading tools. now I am able to get rid of, from my weakness.

 

[budado]

Its very important that we admit our weakness in forex trading and the most important that we admit is that we don't know how to trade and we need to learn how to trade. Sad to say many prefer to blame many things except the facts that they don't know how to trade. When they loss they blame greed, emotions, wrong signal, wrong indicator and so on. But they don't blame themselves for being ignorant in forex trading.

 

[sindarin]

I think by admitting your own mistakes, you could see clearly what is your problem, why you loss your money and how to solve that issue so you could earn money once again. If you don't want then it will be hard for you to solve your loss problem later.

 

[Dmitriy Ushakov]

Of course, you are to analyze your work and identify weaknesses. Because if you do not work on them, it will lead to a loss. Ostrich's position: head in the sand, do not see or hear - is not about a successful trader

 

[amirastroman]

In fact, by knowing our weakness, we have opportunity to be better again on the grounds that empowering us to make arrangement. That is the thing that occur in life and it connected too in trading. By realize what conceivably will turn into an issue, we have opportunity to make reckoning and utilize the approach which possibly, don't open our shortcomings to come up and give us misfortunes in trading. I trade with SNP Investments. I have an account with their Managed Accounts services. I really like the service.

 

[Tom Latham]

I admit that my weakness in sometims i cannot control my patience and prefer to trade in order to make profit, actually this is what increasing my loss lot rather than before, also in from what i see that i usually prefer againts market especially when i am in hurry to make profit in forex.

You are so honest! To be honest, I also lose my momentum quite a sometimes when I face consistent SL’s in my trading! By the way, having a specific trading plan is very important to protect initial emotions during the trading sessions.

 

[lioneld]

My man problem was overtrading, basically I used before a higher trading leverage, so it was too easy to use high trading lots size, but now I am not following this way, because I know the result of using high trading lots size! There is no way without money management policies.

 

[Lee Mark]

My man problem was overtrading, basically I used before a higher trading leverage, so it was too easy to use high trading lots size, but now I am not following this way, because I know the result of using high trading lots size! There is no way without money management policies.

Basically, overtrading is very much common problem here! Since, new traders are not take caring of the rules of money management as well as risk management.