What are your bad habits while trading forex?

[Syrine22]

I think to me one of the most hard habit to control when it comes to forex is emotions.sincerely when there tend to be a loss we lose control but yet to me we can stand to control it anytime anyday if we have it at the back of our minds that forex would never always be a win win situation.

 

[Tirus]

I think to me one of the most hard habit to control when it comes to forex is emotions.sincerely when there tend to be a loss we lose control but yet to me we can stand to control it anytime anyday if we have it at the back of our minds that forex would never always be a win win situation.

Emotions are a problem for many traders and it is normal that this should be the case since we are human after all. Besides, the fact that we are trading with money makes it even moreso because no one wants to lose money out of any business. It will require practice and sticking to your trading plan to get a handle on them.

 

[Syrine22]

Well it is true that we ain't robots but humans and that's the much reason emotions has to set in but yet i still expect us all to be able to control it when it does set in and that can better be done by we if we have it at the back of our minds that we may lose atimes.

 

[Tirus]

We dont really have much of a choice as it has been seen that our emotions do have a role to play when it comes to whether we are profitable or not. We do have to keep them under control so that we can remain focused on the trade on hand and be able to trade better.

 

[Syrine22]

Yeah we should just set our minds to be in an undisturbable state meaning we should be focused and do it as if nothing happened.Though it is difficult but yet if we want the best for ourselves,we just need to put that into application everytime.

 

[budado]

I guess my bad habits right now is that I'm sometimes aggressive in trading in forex especially when I'm earning good money. Same time I'm easy to take defensive stand when I'm losing. The problem with this is that sometimes I can't maximize my earnings when I'm in profit and sometimes I incur few profits to save a position that I thought will going to end up in loss only to find out that the downside is temporary and its going to go up.

 

[Syrine22]

I think we taking a defensive stand to me is the worst part of trading in forex because it wouldn't be making us know our weak points that we should be working on.sincerely trying to put the blame on someone or something else wouldn't be of any help.

 

[rexway]

@syrine what do mean by defensive stand? I think if s trader can just defend his trade it will be better and this will be the only way which the trader can protect his capital from been attack by loss if this is what you mean.

 

[Taha Nizam]

Definitely, we are going to have different bad routines. And of course, one of it will be is that we seeking to be wealthy which we are becoming more having greater objectives and vulnerable of failures. Effective investors will also have here bad routines but they can handle it well.

 

[PROPENSITY100]

My greatest weakness is that I lose mental control when I incur a loss. maintaining stability of mind during adverse conditions in trading and taking the right decisions at the right time is critical in Forex trading.

Whenever I make a loss I want to immediately cover it irrespective of the market conditions and when I repeat a loss I then usually end up finishing my deposit.

Though I have reduced this habit to some extent I could not still master it. This would be a gradual process and I will with efforts and time master it.

 

[Tirus]

The issue of emotion is something that is common when it comes to forex trading and needs practice in order to try and get under control. No one wants to lose in forex but it will happen many times during your trades. One must just learn from those losses but keep a clear mind so that the losses dont influence the next trades to the negative.

 

[Syrine22]

I think my major bad emotion that i think majority likewisely face is putting their trading losses blame on somebody else.we must learn to take blames and learn to do everything to ensure that we correct them ourselves.

 

[monyitomon]

That is one of the bad habits that traders having especially when they can't control their emotion when they face losses then will open a trades right away to hope that they can get back the losses, it's really a bad habit because you letting the emotion decide for you and not your brain.

 

[Cutiekc]

That is one of the bad habits that traders having especially when they can't control their emotion when they face losses then will open a trades right away to hope that they can get back the losses, it's really a bad habit because you letting the emotion decide for you and not your brain.

This also has to be in connected with greed,its only when one has the spirit of being greedy he fails to accept his or her fate,when one is having the market against his orders the best solution is to close all trades and take out his profits if any where made rather than hoping that the market will get back in his favour.

 

[Taha Nizam]

Well it is actual that we ain't robots but individuals and that's the much objective emotions has to set in but yet i still predict us all to be able to control it when it does set in and that can better be done by we if we have it at the coming back of our ideas that we may decrease estimates.

 

[ryuken]

I used to have some trouble with the habits like getting emotional over the changes and other stuff. i think it takes time to get over it and not something we can learn over a in a day or two. it takes time and that is all about that. we just have to learn from it for sure.

 

[Taha Nizam]

Really we should just set our thoughts to be in an undisturbed condition significance we should be targeted and do it as if nothing occurred.Though it is challenging but yet if we want the best for ourselves,we just need to put that into program whenever.

 

[Markllee30]

I don't think i have a lot of bad habits but think i have a single bad habit that i can't wait for too long to open new position. I always remain very eager to open a new position as soon as i close one or when i started trading for a given day.

 

[chintu]

The most common mistake i use to do while trading is i will be some time get emotions and that is the major mistake i do while trading and that lead me to loss most of the times . so from that time i am just trying to avoid emotions while trading and that is one of the key for success for most of the traders .

 

[monyitomon]

I think most of the traders will understand you, especially when you are not used to it that in every trades your emotion is really there that is affecting the way you make decision in trading, but I am sure that you just have to figure it out how you can use it to work in your advantage.