What are your bad habits while trading forex?

[riddick09]

Obviously, I have bad habit of being excited and overconfident in my trades. This is difficult to manage when you see you are winning and also consistently making profits. But then, when I have those traits then, I might be overlooked something or lose my concentration in trading.

 

[budado]

My bad habits is sometimes over confidence. I have a step by step trading strategy but usually I skip my steps and go right away and open a position hoping that my experience will just going to help me earn good amount of money. So far I can say I have hard time earning online. But I do still earn online.

 

[Decub]

Personally, I would want to quit each time I lose. I feel I took a wrong step in the first place by coming into the business and it automatically affects my mood and feelings about Forex. It is something I have gradually been learning to overcome.

 

[Pettyeve]

I feel the same way too. If there is something I would want removed from forex, it would be the way people lose so easily. I don't mean here that it should be all smooth all the time but the way traders lose seems alarming.

 

[Pettyeve]

I feel the same way too. If there is something I would want removed from forex, it would be the way people lose so easily. I don't mean here that it should be all smooth all the time but the way traders lose seems alarming.

 

[Daisy]

My bad habits is sometimes over confidence. I have a step by step trading strategy but usually I skip my steps and go right away and open a position hoping that my experience will just going to help me earn good amount of money. So far I can say I have hard time earning online. But I do still earn online.

Just be patience, take a deep breath and only open positions when you know you will gain money. I think its easy to earn so just keep working hard at it. I think a lot of time traders lose cause they open impulsive trades and then they end up having to close it to a loss so just open trade only to make money and not to lose it. The way the traders trade can harm him like opening trades without a good reason and just playing around and not being serious with it. High leverage too will make you lose easily.

 

[Decub]

Having some bad attitude to Forex or trading will make a trader trade randomly or trade without focus. Most of the times, it involves emotions or attaching emotion to trade which is really a bad form of trading. However, some of them can easily be controlled by instilling discipline in ourselves.

 

[riki143]

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.

I think greedy is very bad habit...for example at the first time you get the profit $5..and your confidence is grow up..you opened position again with more bigger risk..

 

[UMOFX AIR]

Choosing right time for entry in forex market is a big problem for me. My bad thinking is that I feel market is not fair when I enter it changes its position. I think I have to change my ideas , I have to cope with all situations of market. Improve my analysis to open positions at right time.

 

[Pettyeve]

Greed affects me. It is one thing I battle with. I have so much confidence in myself. That factor will make me make mistakes some times. I always want to get them quick. It is still something that affects some traders too. I do say to myself that if I am spending that time trading, then I supposed to get value for it. That is what I try to work on.

 

[willy]

smoking is my worst habit while i am trading specially when i was trading with scalping because scalping making me so nervous and i must smoke with each trade even i open 20 trades in one hour but now i am trying to depend on the pending orders only to avoid this thing

 

[Faal]

I took so many instant decisions before! But right now, I open my trade and take others decision based on my trading plan! Besides, I don’t close my live trading positions until getting TP or SL.

 

[Lee Mark]

My problem was over trading! Even I opened more than 5 positions in one trading pairs! As a result I lost my trading capital for many times! By the way, now I don’t open more than one single trade position! In addition, I have use only 3 trading pairs in my live trading.

 

[Gorbacev]

An ugly habit of a trader when it does not receive if the price movement that occurs does not fit predictions from analyses, so hold the minus of floating-point open positions exist, when it should do a cut loss

 

[Tom Latham]

An ugly habit of a trader when it does not receive if the price movement that occurs does not fit predictions from analyses, so hold the minus of floating-point open positions exist, when it should do a cut loss

I think, traders should aware of their all mistakes; because only one mistake is enough to damage the trading equity. Here, emotions, greed are the most common problem here.

 

[alina.marabar]

Yes, sometimes we make mistakes without being in intentionally. like not focusing on the job.

 

[Lee Mark]

Yes, sometimes we make mistakes without being in intentionally. like not focusing on the job.

It happens mate and that’s why we need to take a decent break to get our best concentration level on trading. Usually I take 15-20 minutes break in every 4hours.

 

[Richards]

The biggest bad habit in trading has got to be that the emotions get the best of me. I know that many traders have the same habit but this is no excuse for it. You need to remain sensible and not let the emotions get the best out of you. What do you say guys?

 

[Tom Latham]

The biggest bad habit in trading has got to be that the emotions get the best of me. I know that many traders have the same habit but this is no excuse for it. You need to remain sensible and not let the emotions get the best out of you. What do you say guys?

No doubt; it’s our common enemy! In addition, it takes such a long time to know the tricks of controlling own emotions during the trading session.

 

[chapinvestor]

One major problem is going ahead of yourself, you should recognize what progress you've made and what to do next. Hastiness causes a lot of problems in the market.