What are the mistakes that new traders do while trading?

#52
Do not rush to make profits, instead focus on understanding how the market moves with every change that happens around it. In time you will learn all the things in trading by making continuous little progress. Wish you luck for trading.
 

stoch

Active Member
#53
learn making own system and do backtesting for that at least for 5-10 years of previous market data , this will help you to know that in previous any scenario how your system perform
 
#55
Traders tend to ignore good opportunities and end up investing at the wrong places, due to which they suffer losses. Moreover, they don’t focus on analysing the data and then investing.
 

stoch

Active Member
#57
If you neglect trading community standards of money management like calculating stop loss and take profit based on pip value, don't place them randomly, your survival chances will be much higher than for ill-prepared trading newbie.
 
#58
I doubt that you will be able to avoid the mistakes that beginners do. The most dangerous mistake is to treat trading like the place where you can make easy money. Trading presupposes certain knowledge and skills, that you need to learn. If you don't want to learn and gain experience, you are sure to waste all the money. So, before investing hard in forex, learn how to trade, use demo accounts, try different strategies and search for different opinions on the internet.
 

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