What are the mistakes that new traders do while trading?

stoch

Active Member
#61
I guess taking too much risk expecting to get rich quick is the biggest problem. When you forget about money management you're unlikely to sustain a series of losses and get margin call easily.
 
#63
The most important thing for you is to realise that you've got to learn a lot and practise new skills. THat is why you should take your time just to learn without making money right away. Start with demo account, test trading strategies which you'll come across on the internet and pay attention to your psychology and emotional stability.
 
#65
There are lots of mistakes which are made by the newcomers to trading.
First of all, high expectations. More often than not, people tend to think that forex is a money factory which can give them as much money as they want. That is one of the most critical mistakes because in most of the cases such a perception leads to the absolute loss of the money.
Secondly, Absense of planning. Every deal should be planned in advance as a trader should know under which conditions should they close the deal and where to let the deal be negative and so on.
 
#66
I doubt that you'll make noo mistakes even if the answers here will be credible and useful. It is the process of learning and you should be ready to make lots of mistakes. What you really need to do is to have courage and patience to analyze those mistakes and try to get rid of them. Only under this condition can you think about becoming a success in trading.
 
#67
Yes, without proper practice, you cannot hone the skills which are required to become successful in the Forex Market.
We need a lot of practice with patience and proper discipline otherwise the trading markets are very professional which does not spare any of the trader's mistakes.
 
#68
When it comes to trading or investing, making mistakes is part of the learning process. Investors typically engage in long-term holdings and will trade stocks, exchange-traded funds and other securities. Traders typically buy and sell futures and options, hold these positions for shorter periods of time, and engage in more trades.
 
#69
Again it is good if these traders have proper knowledge about what they are doing otherwise they will just blow their account within no time.
 

stoch

Active Member
#70
The biggest mistake is trading without stop loss, it's like driving a car without brakes. Surely you can avoid crash for some time but in the long-run you are doomed to have an accident. It's though hard to accept losses but this is how proper mindset should be developed, i.e. learn to accept losses without emotional response.
 

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