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Mistakes that Forex traders are likely to make.


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151 replies to this topic

#21
riddick09

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Yup. Skipping demo accounts and not having fundamentals of forex how the market behave all of those will be a big no no to the newbies. Trying to be advanced without learning something in forex will definitely giving losses as always.
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#22
pinoycity

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The first mistake that a trader will commit is to be over-confident. There will always be people who will think highly of themselves and plunge directly to trading without the benefit of learning even the simple or basic terms in forex.
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#23
monyitomon

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It is okay to be confident but not overconfident because being confident will play an important role! as when you are confident you believe in yourself that you can do better! But an overcofident might lead to unrealistic expectation! ^^,
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#24
pinoycity

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Indeed, being confident is very important as it will make you overcome the negative emotions you need to control when trading forex. Emotions like impatience can get canceled out if you are confident enough.
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#25
flybiz08

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A trader is like to male a mistake in picking the right broker for forex trading. It is important to note that if a trader does not carefully take time in looking at a number of factors like regulation, trading conditions, fund transfers and a host of other factors, the trader might pick a broker that is not appropriate.
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#26
Tariq777

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The biggest mistake the traders do is that they open another trade right away after making big win in previous trade
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#27
luckyvoy

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When entering forex market people are attracted to huge returns it offer but they ignore the risk element involved in forex trading and due to that they get into big losses, whatever be the conditions we should always use risk management.
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#28
freaky

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One of the mistakes traders are likely to make is to trade without Patience. A trader might experience loss and will like to rush into the foreign exchange market to open up a trade and make up for his loss without having a good analysis of the market. this result to loss.
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#29
riddick09

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Its incorrect to say trading without patience. Of course, we all have patience and at the end we will going to have here not have lots of patience. We just gave up and don't continue to monitor our trade just because we are in losing part. I don't see anyone who don't have patience why they trade if they can't wait for some time.
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#30
budado

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I don't know about other mistakes but the mistake I make is always not following my own strategy. lols. Just imagine that I open a position and I will going to 75 pips TP. After seeing that I have 15 TP already I close my position prematurely. lols. And then the price just keep on going and have seen its reach 90 pips and I blame myself of prematurely close my position. lols.
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#31
rexway

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I think some of the mistake that traders do make is for them to go into the market without doing a good and proper research about their trade or say analysis for forex term, this do lead them into serious loss and can end them up in lossing their account,and some of them still trade with greed and fear which is very dangerious so it much more important for any trader to embrass learning.
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#32
Tariq777

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The biggest mistake they make that every trader usually do, is the greed. We let the greed make losses for us
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#33
Idris

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I think as a newbie, the mistake that is inevitable that most make is trading with money which they can't afford to lose thus they start trading with fear after experiencing successive loses. I think this happen because most newbies think that forex is like other business which you start making profit right from start.
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#34
sidejob

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The biggest mistake they make that every trader usually do, is the greed. We let the greed make losses for us

this one is the common thing that many people said, greedy actually another thing that make newbie loss so much money and not only for newbie but for mediocre traders, sometimes they cannot control their greedy and then make a big mistake which make them loss all the money that they have or even double.
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#35
indieover

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Yes it's hard to overcome greediness specially you want to earn as good as other traders who have made more money that you because they are more experienced. So I hope that I would be able to avoid greed also. As I don't want to lose in forex just because of greed.
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#36
fari

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hurry in taking decisions is the biggest mistake that the traders can likely to make mistake. they do not understand the complexity of this job and just running after money.
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#37
budado

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Invest big amount right away. I think that's the main reason why many do fails in forex trading. Its because they start investing in forex right away. I'm happy that some how I'm earning good and earning well in forex trading. I know its hard to make a good living in forex. When I was a newbies my main goal is to be rich right away. But after trading and loss my money that's I realize that I need to learn first how to trade if I want to earn.
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#38
zebrut

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I also experienced that as you say, at this time I am still a newbie and do not understand how the forex system that really works. when i start my demo account trading so easy to find here, we can just plug directly benefit a great deal, and therefore I did not hesitate to directly invest large amount to start trading forex with real account, but what happened to my capital out there remaining.
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#39
rizal83

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for beginners should not start their real trading using a large amount of capital because they do not understand the real state of the market and also could not control their emotions so that we have to do to start mempeljari we actually trade with a demo account first but we do not just learn how to analyze it, we must learn how to manage risk in trading a demo account, with that I think beginners will not have a lot of losses when they start trading with real account
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#40
rony

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As an on the internet investor, you have to stay relaxed and try to prevent waffling. sometimes a actual excellent possibility only last less than a instant. just don't be too sensible sometimes.
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