"7 Big Trading Mistakes" - page 2
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All 7 mistakes are dangerous for traders but I think "Not knowing how to get out of a losing trade" and "Words that will kill you! HOPE---WISH---PRAY" are most dangerous.
Nice one.
Actually no plan is a plan to fail.
thanx
Trading on money you can't afford losing...
Exit stocks position and take profits too early. Committing too much percentage of my trading capital in my initial trade entry. Allowing myself to lose money in a streak by refusing to walk away from the stock markets. Too much trading activities.
I must say its very well defined. It's not fun or thrill you should be looking for, it's profit and must do it with a plan. And you must be open to the idea that your plans won't always go as you want them to and keep calm during losses.
thank you for all . well done
I will add 2 things.
1. The fear of losing of whatever we have in + in a trade.
2. The hope that my trade will be in huge profit one after some time.
For me the greatest mistake of trading is missing of money management in concept of trading and of course psychological factor.
Forex is a market where currency is traded acting on fluctuations between pairs most times on a speculative basis. One of the biggest mistakes to make is to trade right after news. News announcements most times prompt whipsaw-like action resulting from a fall in volume of liquidity and hair-pin turns in the market assessment of the report. Even a trade that is in the money can turn quickly, bringing large losses as large swings occur back and forth. Traders must avoid this big forex pothole.