Common Mistakes - page 2
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Hey the first thing you should do is the resistance and the supports, also the pivot is necessary. After you have these then begin to study up on the candles, what do they mean and hoe they can help you make decisions.
When you enter a trade and it turns against you so you reverse and it turns again, and again, and again. You try to turn around your losses by doubling up every time you trade -sometimes you'll get away with it but more often you will come away scathed and injured.
There are some problems when traders assume that they are incompetent. Sometimes luck is not always uptrend which makes you think you don't have the skills or the insight to turn a regular profit. Most traders will buy systems and e-books, read websites based everywhere from Russia to Ukraine and begin your search for the Holy Grail. This is a common thing, but it must be a phase. If you keep with the same behavior for a long time, you will lose your time with too much information and a complex strategy which would make you lose a lot of money.
It has been my experience in Forex that the greatest cause of losses is the absence of self-discipline. You need self-discipline to follow your trade plan; to be patient; to take losses and to practice.
That´s why there are softwares on line. Everybody can learn if practice, lose or gain, It won’t care if you just PRACTICE. Read, ask and patience are good tools for traders. I´ve been losing in few days, but It´s makes me laugh.
This like it so much, is the fashion of business!!!
That´s why there are softwares on line. Everybody can learn if practice, lose or gain, It won’t care if you just PRACTICE. Read, ask and patience are good tools for traders. I´ve been losing in few days, but It´s makes me laugh. This like it so much, is the fashion of business!!!
That’s great maxiexm. Actually something like that happens to me. But I follow a simple rule. I do't get overly excited about winning trades and I don't get overly pessimistic about losing trades. But I always try to keep losses small so I don’t get knocked out of the game
Thanks maxiexm for your advices. I know I have to be patient for this new market (for me). I started to trade, a week ago, but I love it and I´m going to do it for long time until I get expertise. I don’t know completely the software I got, but It´s just a week, and that´s why I came to the forums, for more information
Thank everyone.
I like this thread, I thought it was me alone the one that experiences this kind losses and reach desperation seeing the money fly away… it´s good to be able to share this felings about situations that happen to all of us in the Forex trade
I like this thread, I thought it was me alone the one that experiences this kind losses and reach desperation seeing the money fly away… it´s good to be able to share this felings about situations that happen to all of us in the Forex trad
Come on mate!!!
Everybody make mistakes and has had some losses.
Even the greatest trader in the world has done something really bad.
That’s how they learn
This threat is not only for talking about mistakes or complaining about Forex.
This threat is to realize that we have to make some mistake to understand some facts about the market.
By studying others people mistakes we can identify the cause of our own mistakes and help us growing faster.