Forex Traders Mistake... - page 2
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However to develop our skill required more practice and learning with seriously but also calmly, because forex is not quick way to get rich at short time, if we have bad mindset usually will making messed up our plan trading
It is good to have a proper trade management plan along with a trading journal, every trader should stick to it and review the journal for analyzing and learning from their mistakes in order to get success in forex trading.
The main mistake is the lack of patience and discipline in Forex Trading and also greed is one of them.
Most of the new traders feels and think that forex is very todo and they take it easy and fail quickly due to this negative approach. But Forex is very risky if want to start it without having any proper skills and knowldge. Also One of the most common mistakes new Forex traders do, is that they have no trading strategy. Because of the many appealing characteristics (24 hours, trade both short and long, leverage etc)most of the new traders entering the market are eager to prove themselves in an often egoistic approach.
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The only harmful mistake, that I think is when the traders repeat the same mistake again and again. Mistake is going to happen no matter how much you are perfect, but we need to learn from it if we wanna become a successful trader.
Another mistake made by Forex traders that I have noticed is not cutting their losses short. Others are yet to restrain their emotions, like greed, panic or even excitement. You'd definitely be a successful trader if only you apply these things in the way you place your trade.
The biggest mistake what the newbies actually make is considering the Forex Trading as a Gamble and trade blindly, like this they lose everything in long run.
Actually a lot of mistakes that are often experienced by traders, but the most common is the lack of knowledge and skills of a good trading to manage capital well. too rushed to start trading is common mistakes made by traders. And without a good preparation
Actually a lot of mistakes that are often experienced by traders, but the most common is the lack of knowledge and skills of a good trading to manage capital well. too rushed to start trading is common mistakes made by traders. And without a good preparation
Yes, of course, due to lack of knowledge, it makes it difficult to trade. Thus we need to acquire lots and lots of it.