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I would like to share with you information about the common mistakes a trader should avoid when getting started in forex trading. This is a list of common forex trading mistakes.

 

1. Using Too Much Leverage

One of the biggest advantages of forex trading is the ability to use leverage or trading on margin. One of the most common mistakes that forex traders make is using too much leverage. Using too much leverage is when you have a small account balance, but make a big trade. If the market moves against your position by just a small amount, it can result in large losses. Commonly, the beginning forex trader will get emotional and nervous and close the trade for a sizable loss.

 

2. Over Trading

Over Trading occurs when traders try to look for trading opportunities that are not really there. It happens to new traders very often, because they just want to trade. The result is usually a poorly executed trade that results in an eventual loss. Over trading can also result in traders making too many trades at once and using too much margin.

 

3. Picking Tops and Bottoms

Many new traders attempt to try to pinpoint where a currency pair will turn around and start moving the opposite direction. This is something that is difficult even for professional traders.

every trader is different form other so surely they make different kind of mistakes. some are impatient, some put the orders in a hurry and the most dangerous is plying with emotions.emotions are not needed

full time traders spend the whole day as i am a part time trader so i work whenever i get time. i am a student also so gets time very often.

it depend son the market conditions which does not remain same for eveyrone. it changes within no time giving you either profit or loss. market is completely unpredictable.

you need to be patient, emotionally string, disciplined and hard working to make it in this job.there is no other secret of success of this job.

what a question. you cannot lose anything which you don't have. you can only lose what you have because the other you already don't have it so how you lose.

i have been in trading business for so long but i cannot say anything about it. sometimes your winning also turns into your loss. it is completely unpredictable.

you must have a plan. i believe one should have 2 plans so that if one back fires you can use your other plan. working without planning is very dangerous.