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Forhad Reza

common Mistake in Trading

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There is nobody who can predict the real faction of this market with certainly.  So, we the traders consider this place as a volatile trading place. For leading a comfortable trading life with certainly besides good trading knowledge we have to acquire proper risk management policy.  Because no one becomes successful from this trading place at all, if he does not know how to manage risk.   

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In my opinion predicting the market requires analysis that only comes through experience so traders should also take patience while learning forex trading.

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See, every trader does trading mistakes in his trading life. So there are many common mistakes of trading, like over trading is one of the big issue with traders. Then, not controlling emotions and doing wrong trades without any analysis.

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I dont think that any trader has ever regret about his mistake. He might get disappoint with his work but he cant leave it without any solution. But there may be, most of the trader after loss, they leave this work.

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On 13/01/2017 at 1:53 PM, Mr. Peppermint said:

Yeah, but we don't have to regret about the mistakes, we need to embrace it and learn from it, as that is the only way to become a successful trader.

It is better to avoid mistakes as the forex trading market is very professional market which does not spare mistakes. SO it is good to keep a trading journal and review it properly to evaluate our mistakes.

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For me there are many common mistakes which traders make everyday in this trading business. One of them is over trading. Another mistake is not using proper risk management. New traders common mistake is they always pick wrong broker for their trading as they don’t about the broker situation of this market. For new trader I can suggest my broker AAFX. I am trading with them for last 3 years. They gave 30% deposit bonus when I joined them.

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The main mistake for any trader to lose in Forex is the lack of knowledge and experience and skills, which is mainly seen in many newbies. They barge into real trading, without proper knowledge and experience and skills and face huge loss later on.

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On 7/26/2017 at 10:19 AM, Mr. Peppermint said:

The main mistake for any trader to lose in Forex is the lack of knowledge and experience and skills, which is mainly seen in many newbies. They barge into real trading, without proper knowledge and experience and skills and face huge loss later on.

Education is always an important factor of our life. Without knowledge and skills, you can not survive any business or work in this world. Same is true for Forex.

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Everything related to trading activities that we do must be we choose which gives the smallest risk. When at FXB I do trading activities in such way in order to obtain greater possibility to be able to gain profit.

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The most common mistakes that many traders do is that they do not take their mistakes as a mistake, they thinks that if a trading strategy won't work for this time, it will miraculously work for next time.

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Then i think they should better test their strategy on a demo account before implementing it to live accounts and they will know that the strategy which does not passed back test on demo can't make them any success in live markets.

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Face it, you’re not always right. And that’s perfectly normal. You’ll need stop loss points, even just mental ones, to make sure that you are able to survive and fight another day when you do lose a trade. Instead of account-wiping forex trades, all you have are these small, manageable, and recoverable losses. While it may be difficult, it’s always best to accept the loss outright and not let your judgment be clouded by your ego.

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Another common mistake that newbie traders make is allowing their losing trades to simply run all the way to their stops instead of cutting losses early. The problem with this mentality is that, even though you’ve already determined at which level your trade will get invalidated, you might be missing out on signals that tell you to exit your trade early. This could come in the form of a freshly released economic report that can cause price to move against you or maybe a candlestick pattern that suggests the price could reverse.

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