Many people make the mistake of underestimating the complexity and risk involved in forex trading, especially if they are new to the market.
That’s a great point! It’s important to learn from both winning and losing trades. It’s not just about avoiding mistakes, but also about identifying what works and building on that.
id made thousands of mistake,and learn from them ,but still can’t make profit
and now im finally constantly profit ,and i look back ,those "mistake "are not really a seems like a “mistake”, because all i did was what i learn ,and i lose ,so i guess it’s only a “mistake” if it lose.
Started out with day trading, using small time frames…
Dear oh, where do I start… I have made quite a few blunders along the way, the biggest lesson was having a 28k account called and watching it blow up within an hour. When that happened I closed my accounts and rocked myself to sleep for a few months. It put me right off and I lost all interest I had.
I started that account with 10k and had it up to 28k in around 9 weeks. I made just over 3k in one of the trades and thought I was a rock start and that trading was easy. This resulted in making quite a few bad calls, ignoring the things I would have read in forums such as this from people with a lot more experience. But hey ho, it is what it is.
That happened just over a year ago and I have only recently started to read about trading again.
So, my advice to you would be, read as much as you can in forums such as this one and take heed of the points made by those that have been trading for years. Oh, I don’t be thinking you are a rock star on the back of a few profitable trades lol
It’s encouraging to hear that even though you’ve made many mistakes in the past, you’ve persisted and are now seeing success. Best of luck with your continued trading journey!
Can you tell us more about why day trading and small time frames didn’t work for you?
It sounds like you’ve had some ups and downs in your trading journey, but the fact that you’re seeking out advice and continuing to educate yourself is a positive sign. Best of luck to you!
Who said you were lazy? See how much of a comment you have written.I only write a line because I am lazy. lol
Mostly because day-trading is too fast for my personality and situation. Better for me to set up a trade and let it go (and monitor occasionally), instead of needing to watch the charts all day.
And many people here have said that the intra-day time frames have a lot more noise than the longer time frames.
Setting up trades and letting them play out can potentially capture larger profits.
@Amy95 - Simple, to the point, and correct.
We have to accept that a losing trade is not automatic evidence of any mistake. Its unavoidable, like the fingerprints on every finger being different.
Errors in trading are possible - eventually, now and then, we all hit Buy when we meant to hit Sell.
But a losing trade based on TA does not mean you made a mistake in your TA.
Right. Losses are a natural part of trading I think the most experienced traders encounter them too
I recently understood another mistake one can do, is emotional trading.
so we can learn from both lose and win trades right? cause i used to think the same way till now
Definitely! Learning from both wins and losses is key. Winning trades show us what works.
so were gonna test some strategies and when find some profitable will stick to them ha?
Right. Keep learning and leveling up in the changing world.