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Thread: Forex mistakes and sins.

  1. #150
    Senior Member youngfx is on a distinguished road youngfx's Avatar
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    And also ..they should try as most as posssible to make a way of not to make their emotions take the better part 0f them

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. #149
    Banned cool111 is an unknown quantity at this point cool111's Avatar
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    If you do not have a dealing plan, significance you will likely be dealing based technique is said to drop apart. have a dealing plan means you have the recommendations and goals and how to accomplish a clear objective in her dealing. Having a dealing plan improves the possibilities for success, because you have the recommendations for access, quit the trade or status aside. Therefore the evaluation must not be one-sided. You'll probably have better ideas into dealing your technique better.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  3. #148
    Member rokib is an unknown quantity at this point rokib's Avatar
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    Yes forex trading is risky business for their trader and also newbie who enter this trading now. So need to know how can you manage money when trading in forex. If anyone can start trading with good knowledge about forex trading and do not repeat the same mistakes then it is easy to continue in this trading system.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. #147
    Member Subramaniam is an unknown quantity at this point Subramaniam's Avatar
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    right, forex trading is incredibly high risk in capital and management knowledge deal of cash will place a little associated with a risk analysis and margin trading arrange and of course the use of power knowledge and management could, betting on knowledge risk management arrange format sensible profit

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  5. #146
    Senior Member youngfx is on a distinguished road youngfx's Avatar
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    Quote Originally Posted by kum View Post
    other merchants usually only give us tips on how to trade and solve our own problems and our own that it should build and repair any faults that we have
    yah ..u are right

    ---------- Post added at 03:53 PM ---------- Previous post was at 03:51 PM ----------

    Here are 6 common forex mistakes that if you made, will ensure an equity wipe out. 95% of forex traders lose and most make these common errors, so if you want to learn forex trading correctly avoid them at all costs.

    1. Not Having Confidence

    An obvious one - if you don't have confidence in what you are doing you won't have the discipline to execute your trading plan. Most traders never get confidence in what their doing, as they never learn the right education and trust a guru, e-book or news story. If you want to win, you must fully understand what you're doing and why it works - so you have the confidence and discipline to trade your method.

    2. Believing Simulations

    How many traders buy a mechanical forex trading system off the web with a simulated track record and expect it to make them money?

    The bulk of novice forex traders fall for this but of course, a simulation done in hindsight, knowing the closing prices is easy - but trading not knowing them is the hard part!

    All simulated track records make money in hindsight and 99% lose in real time trading. Most are simply made up by vendors and combined with some copy to appeal to the greedy nave investor who buys the system and gets a wipe out in the market.

    3. Predicting Forex Prices

    If you try and predict forex prices in advance you're going to lose, as it's really another word for hoping and guessing. Never predict what might happen, trade the reality of what is happening on your forex charts.

    Predictions in forex will be as accurate as your horoscope and forget anyone who tells you they have a scientific theory of market movement - They don't. If such a theory did exist, we would all know the price in advance and there would be no market - Period.

    4. Using Invalid Data

    How many novice traders try forex day trading? The majority.

    How many lose? ALL of them.

    Day trading is simply a way to wipe out equity quickly.

    All short term volatility is random and you cannot get the odds on your side so you will lose. If you want to trade successfully trade valid data and trade longer term.

    5. Trading The News

    If you could get rich listening to the news then a lot more traders would make money - but you can't.

    News is discounted instantly and furthermore reflects the greed and fear of the majority, who always lose. News stories are simply opinions and you won't make money trading them.

    6. Trying To Be To Clever

    On the one hand there are forex traders who don't do enough work and on the other hand, there are traders who think they can make money being clever or working hard - neither however will ensure your currency trading success.

    In forex trading you get paid for being right with your forex trading signal and not for how clever you are, or how much effort you put in.

    The fact is the best forex trading systems are simple and they always work better than complicated ones, as they are more robust and have fewer elements to break.

    FINALLY YOU MUST KNOW THIS!

    If YOU ARE trading the major error most traders make is NOT Knowing their trading edge. A trading edge is the reason you should succeed at forex trading when 95% of traders fail.

    It doesn't matter what your trading edge is but you must clearly define it and have confidence in it to lead you to currency trading success. So if you don't know what your trading edge is - its back to your forex education until you do

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #145
    Senior Member kum is an unknown quantity at this point kum's Avatar
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    other merchants usually only give us tips on how to trade and solve our own problems and our own that it should build and repair any faults that we have

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  7. #144
    Senior Member eng.adham is on a distinguished road eng.adham's Avatar
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    there are many mistakes done by beginners during their trading in this business . these mistakes are trading without enough experience or good strategies , also trying to earn a lot of money within a short period . these mistakes will lead traders to certain loss .

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. #143
    Banned pavais is an unknown quantity at this point pavais's Avatar
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    Various kinds of mistakes that novice traders do, among other
    1. greedy
    2. Not mentally strong
    3. Make decisions too quickly
    4. vengeance
    5. Not analyze the market

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  9. #142
    Senior Member youngfx is on a distinguished road youngfx's Avatar
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    Why Do Most Forex Traders Lose Money?

    Note: If You Really Enjoy My Forex Lessons, Could you please do me a Huge favor after you have finished reading todays forex lesson. Please click the Facebook Like button below this article, then click the twitter button / post it to twitter and facebook etc. You can even email it to a trading friend. Most importantly, make sure you make a nice comment with your feedback at the bottom. As I always say, If you get value from these lessons, all I ask is that you share it around with friends and other traders who will benefit from it. I appreciate your support and will talk soon. Enjoy this lesson. Nial.

    Statistically speaking, trading the Forex market with a 1:1 risk reward ratio and no strategy or trading edge has a 50% chance of success (minus fees) over a long series of trades. Thus, most traders should approximately breakeven over the long run because trading with a (truly) random entry and a 1:1 risk reward is analogous to a random coin toss.

    Why do most Forex traders lose money then? What human variables contribute to the success rate being much lower than breakeven for most traders?

    Perhaps the main reason most traders lose money is because the majority of people have little self-control and cannot resist the temptation to over-trade and over-leverage when there is no one to be accountable to. Another main reason most traders lose money is because they try to buck the trend for some reason, even though they KNOW they have a statistically higher chance of winning by sticking with the trend until it is clearly finished. In this article I will share with you my thoughts on why otherwise totally rational and successful people fall apart when it comes to trading the Forex market.

    Not accepting responsibility for losses and mistakes

    As human beings we all have a tendency to pass the blame and find fault elsewhere. However, when you are trading badly, it is your fault and no one elses. If you find you are losing money in the markets it is not your brokers fault, nor is it the result of a bad quote, a bad tip, or a hardware failure. There is no mysterious They out to get you or steal your money from you. Everything that happens to you in the market, good or bad, is ultimately your fault; blaming anyone else or thing is not going to help you become a successful trader.

    Accepting responsibility for your losses and trading mistakes is paramount to turning your trading around. If you use a tip or a piece of advice from a broker or from someone else, and you lose money as a result, its your fault for listening to them; at least the second time around. The first step in any self-help group like Alcoholics Anonymous is admitting you are the problem and that you have a problem. If you continually blame other people or things for your trading losses, you will never improve your trading because you wont feel any need to correct your weaknesses if you dont believe you have any. So, a big reason many traders fail to make money is because they wont admit they are to blame for their losses. If you want to improve your trading you need to take full responsibility and go into Forex traders rehab.

    Over-trading and not trading higher time frames

    One thing that definitely prevents most traders from making money in the market is over-trading. Traders who just jump in and out of the market on emotion and greed, will not only suffer many more losing trades, but they will also rack up a lot more fees via spreads and (or) commissions over the course of a year than traders who stick to the higher time frames and understand the value of self discipline and having patience. Trading lower time frames causes many traders to over-trade because they end up thinking they see many more trading signals worth trading, when in reality there is just a lot more junk signals and noise on lower time frames.

    So, if you are currently losing money on a consistent basis and you are trading lower time frames, you will definitely benefit by switching to higher time frame Forex trading.

    Risking too much

    How many times have you won a few trades in a row, made some money, and then given it all back quicker than you made it? This happens all too often for traders who have not yet learned to risk the same amount every trade or who have not yet learned to manage their emotions effectively. Trading should not be viewed or treated as gambling, you dont want to double down just because you are up some money. That is not how it works. You have to stop and ask yourself, Are you a Forex Trader or Gambler?

    As price action traders, our aim is to master our trading strategy to the point of knowing exactly what we are looking for in the market every time we sit down behind our computer screen. However, just because you know exactly WHAT you are looking for in the market, this does NOT mean that it WILL work out. Price action trading gives you an edge, just like any other method does (although price action is clearly the best way to trade), and what you need to understand is that no matter what your edge is, its not going to work out in your favor EVERY time, and you dont know for sure if any single edge-event will work out.

    So, if you are equally confident in every trade you take, because you have mastered price action trading, there really is no reason to risk substantially more or less on any single trade. You want to keep your risk amount approximately constant relative to your total account value. The only time you should increase your risk per trade is if your account value increases, never increase risk per trade just because you feel totally certain that THIS trade will work out, because as we discussed above, YOU DONT KNOW if it will or not.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  10. #141
    Senior Member samsuddin.bepari is an unknown quantity at this point samsuddin.bepari's Avatar
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    I know that most entrepreneurs are very confidence itself without chose to know that not informed of all the companies of Forex (illustrate the market all the operators, and thus I cease the market for advising

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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