What are your bad habits while trading forex?

[davidjss]

Many of the people trading forex makes minor to major mistakes while they trades. By starting this thread we should be able to know various types of bad habits which we have to avoid during forex trading.

 

[Sixteen]

I think some habit that must be laid aside are habit of not focusing while trading. When trading, we dont really have to let anything to distract us as we really need to give in our mind to study the market. They are many bad habit we do encounter but the best to overcome is to make sure we are focused and not overjoyed.

 

[indieover]

one of my biggest mistake when trading is getting emotion. i still can't control my emotion.because i am too afraid to lose any thing in trading. specially i still lack the knowledge. it is hard to control our emotions.

 

[budado]

I think its my immaturity. Although I still do earn good for the last two weeks in forex trading. I notice and I admin that I have a tendency to get out early and come in late. Meaning even though I know their will be reversal soon I still open a position. while when I have a good position and knowing that their will be a rally or a dip I get out early. So instead of earning lets say 80 pips I only earn 10 pips.

 

[indieover]

i think as time goes by and more experience we have that we would become more mature in trading and won't be that impatient as before. so i guess it is a process and not something we can develop fast or overnight.

 

[boniez]

often difficult for me to be follow my principle strategy, even though I've been meaning to being before, but still it is all foiled by emotional trading that is within me. but now I'm really serious to learn it all. because it starts from its own to prevent it happening and bad habits

 

[budado]

My bad habits I guess I have bad timing. I have good strategy but always have bad timing. Meaning when its time to hold I always let go. When its time to let go I still holding it. Although I already have a price for my SL or TP I usually hold when its time to put SL but when the position I'm trading already in recover I put SL that results to loses instead of profit.

 

[valexer]

I guess my bad habits while trading is that I tent to lose my concentration in the middle of a trade. Aside from forex, I also have some other online works and I still have to study so sometimes, I get lost while in the middle of a trade resulting ti loses. Of coarse without concentration, I also lose timing so that is a really bad habit that I have to overcome.

 

[Cutiekc]

Thats really bad,i think timing shouldn't be a bad habit because its among the great factors that determine our success in any pairs we trade,i thing my bad habit is aiming to get higher profits and also i don't know when to use the best analysis.

 

[riddick09]

I guess mine will be not able to monitor the trades and even I'm quite fast to decide whether I'm going to have a trade open or not while a trader need to carefully analyze the current market. And also, I'm quite not that good in having management particularly money I'm just more of start trading without knowing how far my trading capital will go if it will be able to survive for a long run or not.

 

[budado]

Right now my problem in forex trading is timing. I hold when I suppose to let go and I let go when I suppose to hold. But I'm still doing some experimental in forex trading so lets see if I'm going to make it in here. I know its hard to earn money in forex but lets face it. If you want to make money you need to take risk.

 

[kasual]

my bad habit is difficult to stick with the plan and sometimes impatient to wait till there is good entry signal. if I am doing that, my trade always end up with loss. I think I should to be more patient and discipline because this forex trading patient and discipline is important key to get positive result.

 

[budado]

I did it again. I guess what I really need is an EA or an automated bot that I can input my trading strategy. In this way I don't need to monitor my trading all the time. Because usually this is the main reason why I make mistakes when I'm too eager to trade and can't wait. But if theirs an EA at least its automatic. I don't need to watch it.

 

[riddick09]

I think I will not really going to make EA but I always not put S/L in most of my trades. So thinking that this always prevent but its not always recommended when we just have small trading capital we can use it usually when we have bigger trading capital as we need to cut our loss as well as to survive the market.

 

[Syrine22]

To me i think majority of us mistakes is our inability of us to know when to trade and when not to.If Such problems are tackled then our weak points with issues of forex would be tackled a bit.sincerely forex to me isn't that an easy online stuff.

 

[pinoycity]

For me, the habit that I want to change or remove is the habit of not accepting that my strategy has failed. There will be times when I will tell myself that, in time, the trend will agree with my strategy and that I will end up having a profit. But I always end up losing.

 

[brokenblade]

One bad habit I have is trying to trade when someone else is bothering me. Just constantly in my ear. Obviously someone wants my undivided attention. I have to make sure I take care of everything else before I get into trading.

Another bad habit is that I tend to not pay attention when I'm trading. I trade in a somewhat unconscious matter. This could cost me a lot in lost revenue.

 

[indieover]

i think thta we won't know our ad habits all at once. it will take time to one by one to change our bad habits. as long as you try to learn forex well, then you will be able to change your bad habits.

 

[indieover]

All of us has his own bad habits that we need to overcome if we need to succeed in forex. So it's important to identify them and give them up early

 

[riddick09]

I think you should also state one atleast so we can discuss about it and how to prevent it from happening. Most likely that traders will going to have here bad habits or greed and fear in their trades. Although, its more trading psychology so traders should learn more about it.