Here are all my mistakes:
Now I’m doubting myself that this is not for me.
Sad
Its probably no consolation but nobody else who made the mistakes you’ve made would have made a profit either. So no reason to conclude you do not have the aptitude to trade profitably. But you must first learn how to trade.
This site has so much free resource. Your account should be demo only until you’ve got a consistent plan that you understand inside out. Then just trade the plan. If unexpected issues occur, post a query in this forum.
Not to sound like a douche, but why didn’t you practice on a demo account first? You list an awful lots of beginner mistakes who shows clear signs of lacking self-discipline in trading and execution. If you can’t consistently be successful with fake money, then there’s no reasons whatsoever for you to use real money to trade.
I see so many of these posts of people losing money on forex, but they somehow think using real money would translate into success. Hard to feel any sympathy for you.
1. Too Early to get in and out of position
A rookie mistake. Don’t beat yourself up.
2. Too late to get in and out of position
A rookie mistake. Don’t beat yourself up.
3. No patience, can’t wait for a proper signal
This is a self discipline problem, and is 100% within your power to control.
4. Doesn’t have a clear goals
This is a self discipline problem, and is 100% within your power to control.
5. Don’t close position when obviously going out of the way
This is a self discipline problem, and is 100% within your power to control.
6. Over leverage
This is a self discipline problem, and is 100% within your power to control.
7. Can’t keep up with the plan
This is a self discipline problem, and is 100% within your power to control.
8. Keeps going even if its already in a losing streak
This is a self discipline problem, and is 100% within your power to control.
9. Doesn’t stick into stop loss
This is a self discipline problem, and is 100% within your power to control.
10. Playing with a target to get millions in one day
This is an utterly unrealistic expectation. Your expectations are 100% within your power to control.
11. So depress
Feel it. Own it. Then get back to work.
Its the bottom line. And that simple. Well said
Haha well said… It the truth…
Forex is not that simple as you think…yes agree it can make u a millionaire bit it can also make u bankruptcy…u don’t even know yourself well…don’t know what kind of trader u want to be…don’t study enough on forex, on news, n on strategy…what lost is lost no point sad over it. Start learning now. Find what strategy best suit u n slowly win bk your money again
let me cobtinue your list:
12. you think you know your mistakes
I’d add:
12. Don’t invest that kind of money into Forex when you are still a newbie and you’re first learning how to trade on a live account.
I made a similar error as a newbie and all these years later it still hurts.
Don’t try to win the money back. Forget it. Focus on being a consistently profitable trader before you put a cent into forex. Take your list, right now you are a 1 for everything on your list. When you feel you are a 10 for everything after demo, then trade with real money.
This sounds similar to a double negative. Maybe this is a freudian message and and it’s time to buckle down and get to work! 
KC
I am not willing to consider over leverage can be reason for losing , if there is any risk , it is completely with non-sense planning with zero risk management approach , nothing without it.
Your experience will help you grow up as a trader. Now, you know what’s your wrong.You can change there mistake and find out them with “why”. Example why you entry position too ealry? Why you entry position too late? After you clear you mind and make a trading journal. You’re better than yesterday.
There is no reply basically. When a trader loses money, it can make him depressed. But a trader must try to acquire adequate trading skills to make certain rational decision making. If a trader feels to make thousands of profit within few days, this wrong concept can even hamper the whole process. Thereby, a trader must try to gather understanding of Forex first.
It happens.
At least you have noted down all the mistakes and you can now act on each one.
You just need to talk to others who have been there and done that, [share ideas][removed due to a Forums Violation] and progress etc.
Thanks everyone to all your messages and it indeed really inspire me, its been more than a year since I posted and share my first FX trading. I have learned a lot during that span.
I would say that my losses continues for another 10 months,I have gone through depression but I fought for it, I listened and read psychology books and study technical trading and I would say it really helps. I learned to disassociate myself my mind into my trading or positions, I don’t get excited no more, I focus on results now instead of the dollar value, since then I improved a lot.
There are couple of times where I have turned $40 deposit into $5000 in 2 weeks, but I lost them all in just 2 days, it really breaks me down.
So I keep reading and listening psychology which is I keep improving.
I learned a lot of technical candlesticks, patterns, indicators but none of them makes me succeed consistently. But what I experience and noticed that patience, timing and price action gives me more probability of winning. I just use other technical I learned to make a stronger case when to open a position.
My first goal is to no longer takeout anymore money from my bank account, and I am so happy that for the past 6 months, the last deposit that I put in to my trading account is still there, survive and is now growing!.
I’m winning more than I’m losing now every week!
Thanks everyone!
Advanced Merry Christmas and a have good New Year trading to come!
I am so glad to hear of your progress! I hope it continues for many years to come!
It is with all those who are in hurry to make money . They do not get adequate skill to meet market conditions and invest all their saving at once for trading. Result is before you when you suffer from a great loss. First thing is to invest just a little amount see your performance and do trading with passion. You can earn any time after having a good trading skill but loss recovery is quite difficult than profit making.
This is greed in action and all of us must resist to get influenced by.
Trading strategy with steps on paper will solve this problem but to achieve trading by paper is not easy.
In this step mentor can be helpful because he will say is your trade ready to be open by all steps in your strategy.
Glad to hear that you actually made a good analysis of what you’ve done wrong and came up with to this conclusion. I suppose that means you learned a lot, consider that this is your investment in education, and just to chair you up – these are the common mistakes for all the newbies.