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The biggest mistake of forex traders


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In my opinion, the biggest mistake of forex traders especially newbies is rushing to real trading from demo trading. As a result, they lose money in the market and blame the market for that. There is no point in blaming the Forex market after losing money. Traders should be careful before trading in this dangerous market. Always start with a demo account as many brokers like Eurotrader offer it.

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I agree. People blaming the market in general is something I often see. I guess it's easier to blame something you can't control than admit you haven't done your best. But in reality, with learning about trading, practicing a lot and being aware of trading psychology it is possible to become consistent.

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Forex traders must need to acquire good trading knowledge because to achieve success it is very necessary of learning about each and every factor of that thing. And Forex as one of the highly profitable business needs proper learning and skill. A trader should firstly learn and then invest to earn. I have learned by attending the free seminar programs at Forex4you trading broker.

I join at this broker because they are just simply wow with their extended service systems and educational programs. One can become an educated Forex trader by attending their free seminar or webinar class, demo trading account, video tutorials and Forex glossary. All the programs are really very effective to learn of Forex trading and trading terms. 
 

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I think before using high leverage for making maximum profit, new traders should try this in a demo account, what i did. It will help them to understand about the good side and bad side of high leverage. I use TP Global FX. in there demo account they give facility to any trader to set any leverage and trade risk free. Traders can easily trade with their demo account because it is easy to use.
 

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On 5/25/2021 at 8:31 AM, maspluto said:

The use of existing leverage must be able to be considered carefully, this is necessary so that traders can be maximized in obtaining maximum trading security and comfort with Tickmill.

Yes, i am using Lower Leverage settings in doing my trades.

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  • 2 weeks later...

Honestly, that shouldn’t be the biggest mistake. You already know how eager a forex beginner is to make lots of cash. It’s a great mistake but not the biggest. It is normal for people to think they have learned to trade and think it’s the right time to move on to a real account. But they, unfortunately, do not see the positive outcome which they expected before starting. As you can see, this is my fourth month in forex trading. And, delaying any longer is irrelevant because I have been using the same strategy I learned from https://timthomas.co/6-of-the-best-swing-trading-strategies/, and I have already mastered it. So, although I’m trying to move to a real account, I still feel I should wait a little longer, but I’m afraid I’m delaying my success.

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On 6/8/2021 at 7:11 AM, JoseDiaz said:

Honestly, that shouldn’t be the biggest mistake. You already know how eager a forex beginner is to make lots of cash. It’s a great mistake but not the biggest. It is normal for people to think they have learned to trade and think it’s the right time to move on to a real account. But they, unfortunately, do not see the positive outcome which they expected before starting. As you can see, this is my fourth month in forex trading. And, delaying any longer is irrelevant because I have been using the same strategy I learned from https://timthomas.co/6-of-the-best-swing-trading-strategies/, and I have already mastered it. So, although I’m trying to move to a real account, I still feel I should wait a little longer, but I’m afraid I’m delaying my success.

We will need to learn from our Past Mistakes so that we are able to make the Profits.

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