common mistake in Forex

[kxforexmart]

Greed actually creates common mistakes in the Forex because here we do the silly mistakes and like that we have to make more accuracy in the Forex field and gradually can improve the Forex performance.

 

[Winjak]

Ignoring risk and money management is the main mistake. Avoiding learning and reading books is the mistake as well.
People think that they can be consistent traders without any knowledge and assume books boring. of course, gambling and relying on luck is so easy... but it's a totally wrong attitude. Some time ago, at the very beginning , I made myself to read the theory, and you know.. it was really helpful. i can't imagine how I'd trade without learning the basics

 

[Max Trade]

There are almost thousands broker in online retail market place and most of them are found to be scams. So it is very much difficult to find a right broker from all, we can choose the broker which is more appropriate to the concept of trading that will be used , the traders who are particularly scalpers should choose the broker that allows trading concept such as this.

 

[Winjak]

Indeed so many broker in forex, so as trader after they making research and choose broker, then they need to obey rules investing money in high risk business, only spent money that afford to loose, although only start with small capital but we can trying some broker because many broker offer low minimum deposit

but I think that you 've done it already and even your avatars on every forum where Forex is the theme, says about that

 

[Fardin Alex]

There is nobody who can predict the real faction of this market with certainly, that’s why we the traders consider this as a difficult market place, but by passing a long time we can get maximal result from this volatile trading place , first of all we have to make sure the most accurate market principle which is very supportive to lead a comfortable trading life ,

 

[Glenn Phillips]

Absolutely, without having proper knowledge on money management and risk management policies, high trading leverage would be costly! Yes, maximum novice traders want to make quick money here, so they prefer high trading leverage! On the other hand, over trading is one of the most common problem here, it is another reason of using high trading leverage!

 

[William]

One common mistake traders make is they lack discipline. The mistake lies in that when a trader who's strategy is telling him that it's time to exit the deal, doesn't leave it thinking maybe the price will go a little further in the right direction, I might get lucky, or the price might make a turnaround, or if I double the volume, I'll play off what I lost quicker, or maybe... No! No maybe, if you have a strategy - use it according to all the rules, you'll become a guru at trading, and then you'll understand what can happen and what can't.

 

[kxforexmart]

Most common mistakes the trader used to do is that they used to trade with high lotsize in order to make some fast money and in that run they just lose everything

 

[helodear123]

Higher lot size also means using higher leverages which most of the times lead towards loosing the entire capital so better new traders should try earning small pips in start unless they become experienced traders.

 

[The trader]

Leverage can make you profitable, but first of all you have to ensure sufficient trading balance real risk managing plan. Otherwise you can be a loser by using leverage.

 

[Nezami]

The demo trading we the traders basically don’t like. But this is a master place to become a knowledgeable trader rapidly. We can acquire all basic fundamental trading knowledge which is very supportive to continue a live trading in a proper way.

 

[raniya]

The demo trading we the traders basically don’t like. But this is a master place to become a knowledgeable trader rapidly. We can acquire all basic fundamental trading knowledge which is very supportive to continue a live trading in a proper way.

demo account is the perfect environment to improve your trading skills and test new strategies before investing your own money. By using demo account, we will get trading experience and we will be more ready to start trading with real account. FXB Demo Accounts mimic real market conditions and come preloaded with $50,000 of virtual funds

 

[June Moon]

Common mistake in Forex is not providing any stop loss and taking huge risk per trade. As per professional trading journal a person should only risk maximum 2% of his or her capital in each trade which will let the trade get 50 more chances to make profit and get back in the market. Yes risk reward ratio is quite a big factor in this case cause if you are not aware of the risk reward ratio the more you make profit it will not save your account. Due to these common mistakes 95% of the traders lose their money trading Forex. It is a fact but it can be a fiction if you just follow proper discipline.
I am trading with FreshForex broker who provides me all the guidelines to overstep the mistakes in the trading platform. I am always concerned currently about the mistakes which i used to make. I learned how to plan a trade and how to think before and after a trade having no worries about the result even. They are most supportive and co-operative broker i have ever traded with.

 

[Smash Fun]

Leverage can be an important factor for profitable earning in Forex but it can also be a negative trade for your account as it is a high risk of our money which we have invested in market.

 

[Smash Fun]

Using high leverage and trading with big lot size is very harmful account and not advisable to trade using greedy on trading, this is common mistake and many trader might having similar experience when they trade with greedy hence will facing with failure

That is true that trading with high leverage and big size lots can be very dangerous for your account and money both. There are many traders who are trading like this but they have experience of the market and know it well that how to handle the market in difficult situation.

 

[Tom Latham]

Over trading and over lots Size; I see new traders are involved by these 2 mistakes! Basically, a number of traders join here with a quick success mentality, but the reality is different! There is no way without proper trading knowledge and experience!

 

[The trader]

For avoiding risk I always use 1:100 leverage in spite of having up to leverage 1:2000 , actually leverage is an important financial tool which always contains risk , so it is better if we avoid using high leverage in real account.

 

[Tom Latham]

My mistake has been my emotions, I have the strategy to operate but suddenly my emotions control me and inside the market and I have had losses. So for me the point to overcome are the emotions

I see, emotion is one of the most common problems here! Basically, maximum new traders don’t know how to make dealing with emotions and greed! It takes long time experience to be a self-controlling trader!

 

[lioneld]

When I was a new trader then my common mistake was over lots! I opened my new trade positions without calculating the money management policies! As a result, I lost huge amount of money! BY the way, now I am trading based on MM rules!

 

[Max Trade]

The traders who think demo is useless they can trade in micro account. I used to micro account when I was a newbie. Lost my balance many times but really acquired real trading experience that is better than demo experience.