Hello everyone! You may remember me from my previous topics on ‘‘joining the community’’, ‘‘starting out in forex’’, and ‘‘the importance of patience in trading’’. I’ve been learning about the different factors involved in forex and have spent the past 13 days trading with demo accounts. I’ve also been watching YouTube videos and researching different brokers. Now, as the market is about to open, I would like to seek your valuable experiences and advice. What are some of the most common mistakes new traders make, including any you have made, and how can I avoid them? Thank you in advance for your help!
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If you want to start, then it’s a good initiative. But before starting, you should measure your efficiency like how much you know the market. Trade on demo account to gauge your performance.
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New traders often make common mistakes, such as overtrading, ignoring risk management, and lacking discipline. To avoid these mistakes, it’s important to have a well-defined trading plan, use proper risk management techniques, maintain a disciplined approach to trading, and stay committed to your goals and strategies. It’s also helpful to seek education, practice, and the guidance of a mentor or coach. By recognizing and addressing your weaknesses, you can become a successful trader over time!!
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Trading is a MARATHON, and it’s important to approach it with discipline and patience. Remember, it’s not about making quick profits, but about building a sustainable and profitable trading strategy over time.
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Sure! thank you mate!
That was a complete one! Thanks.
new traders always do some common mistake , first they fixed a wrong mindset , they try to bring profit very rapidly with 0 learning , and without any risk management they always use high leverage that is a worst work and for that reason they loss their major equity.
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i myself start trading crazily in huge volumes and lost a lot. That is what I recommend you to do, I am almost a newbie just like you btw.
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this community is really supportive for the traders who are particularly beginners, hope you will enjoy this friendly environment.
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One that I still make to this day is not setting stop losses! 
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Yes bro, I appreciate your concern that we need good trading approach and sustainable trading strategy to become profitable in trading.
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New traders often make common mistakes such as overtrading, lack of risk management, not having a trading plan, failing to research and analyze, and chasing losses. To avoid these mistakes, focus on developing a solid trading plan that includes risk management strategies, invest time in researching and analyzing assets, practice discipline and patience, and never risk more than you can afford to lose.
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Same for me! Thank you for sharing that mate.
Sure! Thank you
I already learnt a lot from this people. Thank you man!
Sometimes when we analyze a lot, we may feel that there is no need to do so. However, in the end, we might realize that everything has gone wrong.
Thank you dude! Wish you all the best
My pleasure.
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Initially I also made the same mistake but over time I prepared my mind for trading. Now I don’t take high risk in trading and try to follow risk management policy.
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