Some mistakes
Common forex trading mistakes that cost you money – Part 2 | Forex Wise Guy
My common mistakes as anew trades were to be quick in open positions . Not having plan of trading and less knowledge of market. Now I can say I am improving trading because I pay attention to analysis making, planning discipline and choosing proper according to my capital.
Initially I started trading with out practice in demo account. that phase was the worst as I faced severe loss. Then I started trading under the guidance of experts.
I made the mistake of letting my fear get the better of me and closed my position too early. I could’ve profited more if I had waited.
Some years ago I treated Forex like an interesting and thrilling game. Thanks to losses I got the point. That’s not poker 
There were some technical mistakes either, of course, but it just about inattentiveness
The most common mistake is the hope that when you have a negative trade it will turn to your favor if you keep it long enough. Of course I was no exception Fear is not a good advisor, especially for me it was not at all. Not having a strict plan or at least setting a goal did not help me either. I realized that I needed more and more experience so I can develop a strategy and figure out what I actually wanted to achieve. It is hard but I am not giving up yet
I always wanted to be in a trade no matter I see a setup or not. This was the biggest mistake which had caused a great loss to me in forex market.
Now that this old thread has been bumped, I’ll mention in it with a link what I think the 5 commonest mistakes are, among aspiring traders.
Too, too many mistakes to itemise here.
I’m going to add a different spin on this thread and say that you need to make these mistakes to actually make it as a consistently profitable forex trader.
If you don’t make the big mistakes that lead you to a crossroad where you either quit or do the right thing to make your trading work, then you wont have to change.
The bigger the mistakes you make, the more likely you will learn from it and not make it a second time!
Making mistakes is inevitable either way, because we’re all human and no human is infallible. I agree on principle though - making a mistake and studying what you did wrong is an important part of the trading learning process.
I feel the earlier traders realize that the better, we can’t run from mistakes. But what we can do is, learn from them and sometimes it not even our fault that they happened. They just did!
not putting stop loss and Holding up negative trades hoping it will be good later on are the major mistakes I made while trading.
I have done the exact same thing. HOlding trades open much longer than they should. I lost £700 in one trade once. That hurt
Yeah, there are lots of mistakes which a trader does, but in the end how much he learns from that mistakes counts after all.
Very bad, let a losing trade go when you still can. Next time use stop loss.
You have right babuajee. Sharing our mistakes will help us realizing and avoid them. One of the common mistake is that traders, as well as me we take quick decisions for a trade sometimes and we don’t give the appropriate importance to the technical or fundamental analysis, if we see a signal.
The first mistake I did it in the beginning of my live trading, however I realized that when you lose a trade you have to accept it and move on to another trade if your mind is clear. The second point is a very serious mistake because you will not have a good picture about your position and probable you will place wrong stop loss and take profit.
Ouch, just entered a trade at 11 lots rather than 1 lots! Thought I was past making such rookie mistakes but I guess these kind of mistakes happen
Yesterday I was almost conviced that FED wouldn’t hike the interest rate. Obviously I should listen to analysts more.