mownabratadey Posted July 6, 2011 Share Posted July 6, 2011 Andry@ The most common mistake that is making from the beginning is using of small deposit(real) by which they need to higher the leverage about 1:500, I had also the same problem while trading with just 50$, I need to select as 1:500 as very risky we all know, but there is no choice... SO newbies must practice with that leverage that they will choose for real money... Quote Link to comment Share on other sites More sharing options...
hyipreviewblog Posted July 8, 2011 Share Posted July 8, 2011 @mownabratadey I think everyone will choose to start trading with small deposit first and after they can get stable profits monthly it's time to continue it with big amount and make money for living from forex.... just need to be patient when you start a business and it will grow bigger in time..... Quote Link to comment Share on other sites More sharing options...
winning11 Posted July 9, 2011 Share Posted July 9, 2011 Newbies tend to make mistakes because they have some illusions. In order to become an expert, a newbie must be disillusioned. One common illusion is that, if I could just profit 5 percent a day and keep that rate for a month, then I will get (1+5%)^30 - 100% = 332.2% profit. That is utterly wrong. Forex is a very dangerous thing to handle. You can count yourself to be lucky if you don't lose money at all. Quote Link to comment Share on other sites More sharing options...
indieover Posted July 12, 2011 Share Posted July 12, 2011 even the best trader can still make a mistake. so the important is we minimize our mistakes. and so that we won't lose too much while we are still in the process of learning. i am trying to learn more before i try to risk my money in trading. Quote Link to comment Share on other sites More sharing options...
hyipreviewblog Posted July 15, 2011 Share Posted July 15, 2011 I agree that best or expert trader also can make mistake but they already know how to handle those mistake not like newbie traders that still confuse when they find out market goes sideways with what their prediction. They just wait and see their money gone cause their account reached Margin Call. It is very sad to find what we got in a weeks lost in just one trading. Quote Link to comment Share on other sites More sharing options...
andry777 Posted July 26, 2011 Share Posted July 26, 2011 @hyipreviewblog All people could make mistakes even that is expert traders. If you are expert trader, you are good in analysis but you are not always true in your analysis because there is no one who know what will happen in the future right? Many traders who is afraid to make mistakes but they don't know that we can learn from our mistakes. It's okay to make mistakes in trading as long as we learned from our mistakes. Quote Link to comment Share on other sites More sharing options...
winzpc Posted August 1, 2011 Share Posted August 1, 2011 @hyipreviewblog I agree with you, Expert trader have already got their experience in this business and helped them to avoid a same mistake. But new trader still face a some problem to trade in prediction way. They like to predict the future price by hoping it will get there or follow what they want. That cause a new trade mostly do a same mistakes like me. But expert trade has already trade base on what they seen in chart. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 10, 2011 Share Posted September 10, 2011 Well, you are quite right that most of the traders do these mistakes but a few other common mistakes which are done by newbies are trading without analyzing the markets, due to poor money management, letting emotions come in to play and so on. A good trader never make mistakes in any of the following cases and therefore, earn far better income than newbie traders.. Quote Link to comment Share on other sites More sharing options...
budado Posted September 13, 2011 Share Posted September 13, 2011 I think this is the one that even old timers and professional traders have hard time controlling. DON't Trade when your not emotionally and mentally stable. Many professional think since they know how to trade since they have experience they will trade simply because they know what they are doing. But sometimes when we are not stable we make wrong decision. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 13, 2011 Share Posted September 13, 2011 I do agree with you the a trader should not carried away by emotions as Forex is not for those who trade under emotions. There will be times when a trader will have to suffer losses but the good trader will be only those who can overcome those emotions and try to break even from the upcoming trades. Quote Link to comment Share on other sites More sharing options...
wasi90lkv1 Posted September 19, 2011 Share Posted September 19, 2011 a forex trader may become very excited after seeing a bit of profit. as a result, the trader may start to do very aggressive trading and may suffer huge losses. the trader needs to be rational while trading. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 19, 2011 Share Posted September 19, 2011 a forex trader may become very excited after seeing a bit of profit. as a result, the trader may start to do very aggressive trading and may suffer huge losses. the trader needs to be rational while trading. Â I myself have been in such conditions in my early Forex days which resulted in a total wipe out of my initial investment unfortunately. Money management and emotion control are two important terms which should be practiced properly to avoid such big losses during Forex trading. Quote Link to comment Share on other sites More sharing options...
wasi90lkv1 Posted September 22, 2011 Share Posted September 22, 2011 yes, you can lose your entire capital in 1 day if you are not careful enough. greed can really harm you financially. Â you have to ensure you are in a sound state of mind when you trade. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted September 22, 2011 Share Posted September 22, 2011 yes, you can lose your entire capital in 1 day if you are not careful enough. greed can really harm you financially. Â you have to ensure you are in a sound state of mind when you trade. Â Well, greed surely is harmful while trading but not every time. If we have a correct technical analysis to back up our trades then I surely believe that we can be a bit more greedy as of then we don't call it greed we call it patience and patience is one of the most important part of trading in Forex. Quote Link to comment Share on other sites More sharing options...
senger Posted December 6, 2011 Share Posted December 6, 2011 Yes, as I mentioned there are a lot of mistakes that a lot of traders Atercbha true to Forex strategies rely on a phantom that does not make them winners in the forex market's Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 29, 2012 Share Posted March 29, 2012 I think the stats show that traders who use a very high leverage tend to blow up their accounts in no time. With a low leverage, a trader conscioucly reduces the risk level and if losses are accrued in any way, they are not severe enough to cause a major damage to the trader's trading account. Quote Link to comment Share on other sites More sharing options...
budado Posted April 15, 2012 Share Posted April 15, 2012 The most common mistake that trader commit is timing. Lets face it. In forex trading its all about timing. You can have right strategy but still end up losing because of your timing. Forex is fluid. Its moves fast its move slow and sometimes goes steady. If you don't know how to jump in and jump out. or open and close a position you end up making wrong entry and exit point that results to loses. Quote Link to comment Share on other sites More sharing options...
boniez Posted April 16, 2012 Share Posted April 16, 2012   certainly a lot of mistakes made by them, because forex trading has many rules whichwere all the hassles caused traders to be obeyed, especially with the many temptations that make our problems worse    Quote Link to comment Share on other sites More sharing options...
monyitomon Posted April 17, 2012 Share Posted April 17, 2012 Yes, we should be able to control ourselves. One thing is also using a high leverage but there will be chances that you will earn a lot for using a high leverage but yeah! It will blow out your account with just a seconds if you used high leverage. Quote Link to comment Share on other sites More sharing options...
budado Posted April 24, 2012 Share Posted April 24, 2012    certainly a lot of mistakes made by them, because forex trading has many rules whichwere all the hassles caused traders to be obeyed, especially with the many temptations that make our problems worse       And what kind of mistake are their so that we can correct it? Anway I just want to point out that having loses does not mean you make mistake. In forex trading mistakes happen if you have a strategy and you don't use that strategy to the letter. But if you follow your strategy and you loss money its not a mistake at all. It just happen that its not your day. Quote Link to comment Share on other sites More sharing options...
Cutiekc Posted April 30, 2012 Share Posted April 30, 2012 Among what the thread starter listed as mistakes that is been done by forex trading i think the most affected one is over trading where a forex trader tries fitting in or putting the market in a good position,when the market is in a good position. Quote Link to comment Share on other sites More sharing options...
budado Posted May 2, 2012 Share Posted May 2, 2012 Among what the thread starter listed as mistakes that is been done by forex trading i think the most affected one is over trading where a forex trader tries fitting in or putting the market in a good position,when the market is in a good position. The big question is what is over trading? Because I do scalping and that means I trade a lot each day. But does that mean I'm over trading? No. I think the best word to use is force trading. In which we are forcing ourself to trade even though we its not the right thing to do. For example today I make a mistake I open two buy position that has only 2 pips difference. Now when the price goes down I end up having two loses. That's for me is force trading. Because I can open just one buy position and hold it but instead I don't. Other one is opening two opposite position in disguise that I'm doing hedging although the trend that I'm trading does not have hedging pattern. Quote Link to comment Share on other sites More sharing options...
boniez Posted May 3, 2012 Share Posted May 3, 2012 scalping it requires us todo a lot of open positions ,but I guess we couldnt guessed it as overtrading,because after all the scalper must have compiled all the strategy with maximum rule and all that I believe is based on the principles and although they opened a lot of positions but it still controlled. Quote Link to comment Share on other sites More sharing options...
Sixteen Posted May 4, 2012 Share Posted May 4, 2012 Yeah i strongly beleive the greatest mistake a new trader wil make is to use high leverage when trading because its really too risky as our account will be blow up in no time. A low leverage tends to be the best as it minimizes our loss and will give us the chance to continue trading. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 10, 2012 Share Posted May 10, 2012 from what i see number 1 and number 2 are the most things that experienced by many newbies, maybe because they want to earn as much as they want in forex, but i think we need to know the right time to use that thing and over trading also because of emotion and greedy emotion in our heart. Quote Link to comment Share on other sites More sharing options...
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