Forex mistakes and sins.

[youngfx]

Stop Sabotaging Your Forex Trading

Forex Traders have a tendency to sabotage their own efforts in the market, and most of them don�t even know they are doing it. The inherent paradox of trading is that the harder you try to make money or avoid losses, the more these things tend to elude you. This is something that you probably have noticed or felt via your own frustration in making money in the markets.

Do you ever enter another trade immediately after a winner closes out, and then later realize you sort of just jumped into the market without your edge or strategy being present?

Do you ever consciously risk more than you know you should on a trade, and then regret it as the trade immediately goes against you?

Do you ever stop trading for a while after hitting a few losing trades just because you think if you �wait it out� your bad streak will end?

As humans, our biology tends to interfere with our trading much more than we think. It has been proven that people become less risk averse after a winning trade or a series of winning trades, and more risk averse after a losing trade or series of losing trades, even if they are following an effective trading strategy to the T. This is a BIG mistake; there is no logical reason to become less risk averse after a winning trade or more risk averse after a losing trade, because your previous trade does not determine the outcome of your next trade. Traders tend to ratchet up their risk amount after winning trades because they feel euphoric and over-confident and it�s these emotions that will soon lead them to give back all of their recent gains, and probably more.
Stop giving back all your winnings

I�m sure you�ve experienced a nice winning streak in the market, and you were getting excited that your account was growing. Then, probably faster than you made that money, it was gone, and maybe even more. You were left feeling confused, angry, and frustrated. Then the self-doubt sneaks in, the self-criticism, and you might feel like you are just not cut out to be a trader. Does this sound familiar??

I can assure you this is actually �normal�, most traders go through a similar situation at some point in their careers. The reason it�s �normal� to give back your winnings to the market, is because we are actually biologically wired to do so.

� It�s a fact of human biology that we become less risk averse after a series of winning trades.*

� It�s a fact of human biology that we become more risk averse after a series of losing trades.*

� In reality, you aren�t any more likely to win after a winning trade or lose after a losing trade, assuming you are strictly following your trading edge / trading plan.

� If you are strictly following your trading edge and trading like a sniper, you are only going to decrease your profit factor by reducing risk after a losing trade, and you are only going to open yourself up to larger losses if you increase risk after a winner. Because you are NOT more likely to hit another winning trade just because your previous trade was a winner, nor are you more likely to hit a losing trade just because your previous trade was a loser. This is due to the random distribution of winners and losers that exists for any given trading method.

So, the reason you�ve given back a lot or all of your winnings in the market, is that it�s natural for us to feel more euphoric and over-confident after we make some money in the markets. We then tend to forget a little more about the risk on any given trade and focus more on trying to turn our recent winnings into even more; essentially this is greed getting the best of you. Similarly, when we hit a string of losers we tend to cut down our risk more than we should, or we become afraid to enter valid trade setups all together. This is also emotion getting the best of you; it has nothing to do with logic or reality, because in reality you are not more likely to lose on your next trade just because your last one was a loser.

I can�t even tell you how many emails I get from traders saying something like they �built their trading account up a decent amount and now are below their initial starting value�; almost every trader goes through this at some point. You have to decide if you are going to recognize that you are doing something wrong and try to fix it, or stop trading all together. We are all inherently flawed as traders, just because we are human, but we have the gift of a very powerful and highly-evolved brain that can overcome these flaws if we make a conscious effort to do so.
Stop second-guessing your trades

Top traders are always confident in any trade they take, because they know what their edge is, and they don�t trade unless it�s present.

Thus, top traders don�t second guess their trades, whether a trade results in a winner or loser, they fully accept the outcome before it happens and they don�t enter unless they�re confident that it�s a valid instance of their edge.

You never know �for sure� what is going to happen even though at times it can seem like you do. This fact alone accounts for most problems that traders face. It has been said that money management and trading psychology are the most important aspects of successful trading. This is true, but it�s also true that one�s trading method heavily influences their trading psychology, so you need to be sure you aren�t also sabotaging yourself by using confusing and overly-complicated trading systems. These trading methods can certainly cause you to second guess yourself, since you aren�t really sure how to enter or you have to line up 10 different indicators to find an entry signal.

Having a clear and clean trading strategy like price action will go a long to help you remain clear-headed and objective, and this will help to prevent you from committing the trading mistakes we discussed previously. We have to do everything within our power to avoid sabotaging our own trading efforts by giving into the emotion-laced temptations that we face in the markets. Trading with an uncomplicated yet highly effective trading strategy like price action will help us to put the odds in our favor.

[youngfx]

Overcome trading self-sabotage with patience and logic

I wish there was a ‘magic-bullet’ that would fix all the inherent flaws in our wiring that cause us to make decisions that sabotage our own trading, but there is not. The only way to succeed in the markets is to circumnavigate the primitive parts of our brains that tend to dominant our trading decisions by using our more advanced and more highly evolved brain areas. We must use logic, objectivity, and delayed gratification if we want to succeed in the markets.

The reason we tend to do things like risking more than we normally do after a few winning trades or dial-down our risk too much after a few losers, is mainly because it ‘feels’ good. Most traders trade based far more on how they feel (emotion) than they do on logic and rationality. This is the reason why most traders lose money. The only way to avoid this self-sabotage in our trading is to have a thorough forex trading plan and follow our plan and trading strategy with discipline and patience.

In order for you to stop sabotaging yourself in the markets, you must learn to be patient. One thing that I can personally share with you is that if you DO learn to trade patiently and ONLY enter the market when your trading edge is present, you will be unlikely to have large strings of losing trades. Trading like a sniper will naturally eliminate the potential to lose a lot of trades in a row, which will in-turn eliminate a lot of the potential for you to become too risk averse as most traders do when they lose a lot of trades in a row. Traders who lose a lot of consecutive trades typically do so because they are not following their trading plan and they are jumping in and out of the market without waiting for their edge to appear. That’s not to say that you can’t have large strings of losers as long as you are following your trading edge with discipline, because you can, but it’s far less likely to occur than if you aren’t following your plan and are trading off emotion.

You see, trading is a profession that you succeed at by putting the odds in your favor, in all aspects of your trading. Once you fall off the wagon and start ‘running and gunning’ rather than trading like a sniper, you immediately turn the odds against you…even if trading in this manner feels good. Good trading is not necessarily exciting or filled with emotional highs and lows…if you are calculating and calm in your trading, you will not be surprised by much, you won’t have huge unexpected losers or winners, but all of your trades will end within the realm of what you expected, winner or loser. Traders become emotional when their trades don’t end how they expected…huge account-destroying losers or account doubling winners…both of these things are the end result of emotional trading and self-sabotage of one’s trading account.

Here are some quick-tips that you can use to help you stop sabotaging your own trading efforts:

• Admit and accept that you’ve been trading emotionally, and decide to do something about it.

• Understand that your previous trade has zero affect on your next trade; do not trade based off the emotion you feel from your previous trade. Separate yourself form the market after your previous trade for 24hrs or however long you need to ‘cool down’

• Stop entering trades just because your previous trade was a winner and you feel confident. Also, stop risking more than you are comfortable with just because you won on a few trades.

• Stop avoiding trades only because you’ve hit a few losers recently, and don’t drastically dial-down your normal risk amount just because you think your losing streak is going to continue.

• Understand that if you are following a high-probability trading edge like price action, and sticking to it, you have to trust your edge. Don’t sabotage it by cranking up your risk after a winner, or avoid valid setups after a loser. Have a trading plan based off your edge and stick to it.

• Record all your trades in a forex trading journal. Doing this will give you something to stay accountable to and will reflect back to you your efforts to remain disciplined or the lack thereof. It will show you in definitive terms how damaging the self-sabotage mistakes that we’ve discussed today can be.

Conclusion:

Sabotaging your own Forex trading efforts is perhaps the most frustrating part of trading, and most traders are guilty of it at some point in their career. If you find that ‘second-guessing’ your trading decisions is one of the main ways you sabotage your own trading efforts, then it’s most likely because you lack confidence in your trading strategy and don’t believe in yourself. I personally trade using price action strategies because of the simplicity involved when making each trading decision. Over the years, I have become extremely confident in pulling the trigger on trades I believe are good opportunities. I attribute this confidence to adopting a ‘simplified’ trading strategy and by repeating the same trading routine day in day out for over a decade. Most successful traders I know keep things simple, they follow a trading routine religiously and always have a plan of action. If you can follow these important points, I believe your trading results will improve dramatically.

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The Secrets to Profitable Forex Trading

Today I am officially letting the “cat out of the bag”; I am going to give you my 9 BIG secrets to profitable trading…OK OK, they aren’t really “secrets”, but they are 9 very important things I personally do or have done that have helped me become a better trader. Unfortunately, there are no “secrets” to making money in the markets, but there are things that you need to do that you most likely aren’t doing, which will greatly increase your odds of becoming a profitable trader. So, without further ado, here are my 9 not-so-secret secrets to successful Forex trading:

1) PICK ONE trading method and keep it clean and simple. Don’t go wasting time trying to make sense of 15 indicators plastered all over your charts like a piece of abstract art. The truth about trading strategies is that finding one that gives you a high-probability edge in the market is not that difficult. But if you over-complicate it and confuse yourself in the process, you are going to do a great deal of harm to your trading account. Look, your trading strategy should make sense and it should be effective, but it should also be so simple that you could explain to a 5 year old, I’m serious.

The trading method that I have used for years is price action (duh); it’s simple, effective, and flexible, and it doesn’t take rocket science to understand or implement. If you want to master trading you can pick one price action strategy and learn how to trade it in every market condition; make it your bi$#!….REALLY master it before moving on.

For example, say you choose to learn the pin bar setup first, the best way to learn this setup is to trade it from key levels within the structure of a trending market, do that first, and make sure you are consistently profitable for 3 months or more trading only that strategy before moving on.

2) ANTICIPATE your trades and follow some kind of written plan. What I mean by “anticipate” your trades is to make sure you never jump in the market on a whim or without any pre-defined reason. You want to always make sure you are basing your trades on logic and objectivity, not irrationality and emotion (like most traders). So, you should have all the key levels drawn on your charts, and assuming you have mastered price action trading, you can simply sit back and wait for a setup to form at a key level in the market. This is called “pre-empting” your trades…instead of randomly jumping in and out of the market, you are watching pre-defined areas in the market and waiting for price action setups to form near them. Once your trade setup forms, you plan your entry, enter the stop and target, and then let the market do the “hard work”. Seriously, go play golf or something, don’t sit there and think about your trade after you enter it, stop thinking for a while and you might just make some money in the markets.

3) MAKE A DIARY OF YOUR TRADES to keep a written on-going track record of your progress. I cannot tell you guys with enough emphasis how important your trading journal track-record is, except to say that if you don’t keep a trading journal or at least regularly analyze your trading history and equity curve, you are extremely unlikely to ever make consistent money in the markets.

The actual process of updating your forex trading journal will help you stay disciplined and organized. This is part of developing the positive trading habits that are so crucial to becoming a long-term profitable trader. I don’t care if you think updating your journal is boring right now, stop complaining and start doing the things that YOU KNOW you need to do to become successful. I can promise you that if you keep screwing around by being unorganized and half-assing it, you are never going to pull the sort of money from the market that you want. You NEED to look at your track record on a regular basis to see something tangible that reflects back to you your ability or inability to trade. This will work to keep you on top of your game.

[youngfx]

the remaining of the nine

4) DON’T LISTEN TO ANYTHING BUT THE CHART, because the chart reflects everything! That’s right, the price movement on a raw, indicator-free price chart, reflects all variables that affect a market. So, don’t get bogged down analyzing economic news and watching CNBC, just learn to read the price chart and then let the price action dictate your trading decisions, not what some talking head on TV thinks. Also, NEVER trade what you think is going to happen, only trade what you actually see happening in the charts. What I mean is this, just because you “think” the EURUSD is going higher doesn’t mean it actually is, and your thoughts have no bearing on the EURUSD or any other market. The only thing that matters is what the price chart is telling you, so learn to read and trade from that instead of outside sources.

5) DON’T GET GREEDY or you will never make a profit. Greed is perhaps the most prevalent reason why most traders fail. The late Rene Rivkin, a famous Australian stock broker and trader, had a classic line about greed: “Leave some for the next guy”. Here are some tips on how to avoid letting greed get the best of you:

• Aim for a target before you place the trade – Yes, that’s correct; you should already have a target in mind before you enter a trade, and it’s best to pre-define your exit before you enter. Exiting is not an exact science, and there are times when deviating from your initial exit plan makes sense, but you should always decide before you enter a trade what your ideal exit strategy is and then try to stick to that plan as much as possible. Don’t change your exit strategy once your trade is live just because you “think” the trade is going to charge on in your favor forever, only change it if you have a very obvious price action-based reason to do so.

• Never move your stop loss further from entry – What I mean by this is entering a trade and then the market starts to move against you immediately, do you move your stop further away from the market price, or do you hold it in place? Obviously, the only logical course of action is to accept your loss and hold your stop where you pre-defined it, yet many traders email me saying they have moved their stop away and now have a very big open loss they don’t know what to do with. The answer is you have to take the bigger loss because you did not take the smaller loss…always take the smaller loss by not EVER moving your stop further from entry.

• Be happy to take a logical profit – If you have a nice 1:2 risk reward profit and there is no obvious reason to try and trail your stop, then by all means take the profit! Don’t just leave a trade open because you are mesmerized by the potential for the market to move further in your favor. Come back down to reality and realize the market ebbs and flows and it’s more likely going to move back against you soon then move in your favor if it’s already given you 2 times your risk.

• Only trail stops once your trade is well into profit – I only attempt trailing my stop if my trade is up about 1.5 times my risk and I am in a runaway trend or a strong breakout move that clearly has potential to keep going. Don’t start moving your stop up just because the trade pops in your favor the first 10 minutes you enter. Give the trade some room to grow and breath. Trading is like a garden, you have to give it time to grow to taste its fruit.

• Don’t live in hope – I like to think of hope as the catalyst for greed. Traders often hope that their trades will go on forever in their favor, or they hope that if they move their stop loss just a little further away, the trade will come back for them. While hope is generally a good thing in every other area of life, in Forex trading it can cause you to do irrational things that destroy your trading account.

6) GET SOME BALLZ, because trading is not for the emotionally weak or for wussies. That’s right, if losing 5 trades in a row makes you cry and whinge, then forget about becoming a trader. Don’t trade if you don’t have the money to lose, it’s really that simple. You can lose money in trading, many beginners seem to forget or ignore this fact. So, you should not be trading with money that causes you to treat every trade like it’s life or death, you really should almost not care at all if you lose on one trade, because ONE trade DOES NOT define you as a trader. Your success as a trader is the result of many months of trading results, not just one or two. Don’t get all excited if you win a trade either, or a series of trades. Instead, stay neutral and act like a strong minded professional with skill, rather than a little school boy who just won $100. You need to be strong to be a successful forex trader; you to focus and believe in yourself, and it’s OK to bet a little harder on a trade if you are confident, but keep in mind this is only advisable if you are 100% sure you have mastered your trading strategy already.

7) DON’T CHANGE YOUR METHOD> STICK TO IT< BELIEVE IN IT, because all trading methods will have losses and losing periods. So, don’t run away and freak out in the face of some losing trades. Instead, you need to hang in there and tough it out, just make sure you are consistent with your strategy and that you are using something like price action that is simple, logical, and has proven itself over time.

A random entry method based on flipping a coin would probably make more money than a trader following 3 different trading methods and running around looking for the Holy Grail every day. The Holy Grail to long term success is in fact…sticking with something, believing in it… and not hesitating when the opportunities present themselves.

8) MAKE SURE YOU CAN SLEEP AT NIGHT, because if you are having trouble sleeping due to your trading, it means you’ve risked too much. Don’t take a position size that you know is too big, because then you almost certainly will be too emotionally involved with the trade which will result you in not sleeping and becoming even more emotional. Not to mention, your frazzled and obnoxious existence from risking too much will probably make your wife or roommates want to kill you or send you to the loony bin.

You need to learn to RELAX…the market is not going anywhere, you need to trade a position size that you can handle emotionally, not one that causes you to have a near melt-down every time the market moves against you by a pip or two. If you find you are waking up over and over to check the latest quote on your laptop or iPhone, you know you are IN OVER YOUR HEAD. Some people risk too much money for the “rush”, some do it out of stupidity or greed, whatever the case, make sure you are risking a decent amount, but not an amount that makes your heart pound, and not an amount that causes you to fall asleep at your computer desk!

9) ALWAYS PAY YOURSELF, because if you don’t, who will? When you make money in the markets you need to pay yourself, don’t re-invest all your profits in some vain attempt to grow your account to infinity. Let’s be honest here, you are in the markets to make money so that you can buy things, whether it’s a house, a car, or trying to buy freedom from your job, you aren’t going to buy anything if you keep all your money in your account. Pay yourself and reward yourself, it will help to motivate you and will reinforce positive trading habits.

[sharabela]

Wow! What an article. You really have written it so nicely and easily that anyone can understand what you are trying to say. This is one of the best articles that I have read in last couple of weeks in this forum.

[sarder]

Thank's for a lot information releated articale.

Top traders are always confident in any trade they take, because they know what their edge is, and they don’t trade unless it’s present.

it's 100% right thinking. and i want to make that's type trader one day.

[youngfx]

thanks you all, i promised to post more about it

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Know When to Hold em – Know When to Fold em

One of the most challenging decisions that Forex traders are faced with on a day to day basis is…knowing when to hold on to a trade and when to close it.

This decision is usually the one that gives traders the most difficulty and frustration, and it is something that you must learn to effectively deal with if you want to make consistent money in the forex market. Trade management is often the area that gives forex traders the most trouble; it is relatively easy to get into a profitable trade but it is much harder to manage that profitable trade in such a way that it produces an outcome you are satisfied with.

This article will only focus on one area of the process of trade management; knowing when to hold on to a winning trade in order to let your profits run, and knowing when to close a winning trade and take your money. Pardon the clich�, but as the Kenny Rogers song goes, “You’ve got to know when to hold em’, and know when to fold em”…(If you never heard the song click here: Kenny Rogers)

How to manage a trade with a big open profit…

While there are certainly worse problems to have in the world, trying to figure out what you should do with a trade that is deep in profit can actually be quite puzzling for many forex traders. The problem that traders in this situation face is whether they should hold their trade for an even larger gain that may or may not materialize, or close the trade out and walk away with a very nice profit.

What this decision really comes down to is one of logic vs. emotion. Take a look at the technical picture of the chart that you are trading while completely disregarding how much money you are up or how you feel. When you look at the chart from this perspective think about how big the recent move has been that you have traded, how much has price moved compared to the ATR (average true range)? Do you really believe there is a logical technical reason that such a large move will continue on in your direction before reversing, or are you just being greedy? Remember that just because a trade is heavily in your favor does not mean you should necessarily keep it open. If you are in a trade that is up more than 3 or 4 times your risk, you should really stop to ask yourself, “Do I really believe this trade will keep going up or down in a straight line or is it more likely to experience a correction?” It usually makes more sense to lock in most of your profit or close a trade out that is deep in profit, because if there is one thing we can all agree on about the forex market it’s that it ebbs and flows and doesn’t travel in a straight line for very long except on rare times of economic volatility.

How to manage a winning trade in trending markets…

Trending markets can increase the odds of a trade moving in your favor and as a result the chances of being able to let your profits run into bigger gains. One good way to tell whether or not you should try and let your profits run when a market is trending is whether or not new highs (in an uptrend) or new lows (in a downtrend) are being made on near daily basis. If this is happening you can simply trail your stop loss along the 8 day ema or slightly above / below the previous day’s high or low and let the trade run in your favor until it reverses and hits your stop.

How to manage a winning trade in the midst of opposing price action or support / resistance level…

Another factor you want to look for when trying to decide if you should hold your winning trade or fold it is whether or not there is an opposing price action signal or a nearby support or resistance level. A nearby opposing price action reversal signal or strong support or resistance level can be a good reason to close out a winning trade. Also, if there is a previous support or resistance level that has held strong in the past, you might want to use this level for a profit target, usually putting your target just in front of the level works better than trying to squeeze every last pip out by putting your target right at the level or slightly beyond it.

Just as we can use price action signals to enter into high probability trades, we can also use the opposite signal to exit a trade. How many times have you been in a pin bar trade and then after a day or two an opposing pin bar forms? In this case you might want to trail up your stop to just above the high or below the low of the opposing pin bar, depending on which direction you are trading. Opposing price action signals can be used to exit a profitable trade if they occur in the natural course of that trade, however, you should not wait or depend on such an opposing signal to exit a profitable trade, it is just something to be on the lookout for in case you are in a profitable trade.

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How to manage a winning trade when reaffirming price action occurs…

One of the best signs that a particular trade is a good candidate to be held instead of folded is reaffirming price action. For example, if you are long the market and you get a bullish pin bar or consecutive bullish pin bars that form in the context of the uptrend you are trading you can be reassured by this price action because it “agrees” with the direction you are trading. This is essentially the opposite of the “opposing price action” rule that we discussed in the point above. This reaffirming price action can be a very good indicator that you should hold a winning trade instead of folding it. Learning to “read” a price chart in this discretionary manner is really what distinguishes the pros from the amateurs.

How to manage a winning trade in different market conditions…

Another factor to take into consideration when deciding whether to hold or fold your winning trade is the current state of the market. Is the market trending or consolidating, quiet or volatile? In a strong trend you will likely have a better chance to hold a trade for bigger gains, in a consolidating market you are probably better off using support and resistance levels and / or opposing price action signals to exit your trade. It is crucial that you consider what condition the market that you are trading is in before deciding whether or not to exit your trade.

Don’t count your money when you’re sitting at the table…

When deciding whether to hold or fold your trade it is important that you look at your trade in terms of risk to reward instead of the amount of pips you are up. This is analogous to not counting your money when you’re sitting at the table; don’t count your pips when you are in a trade but instead calculate your risk to reward scenario. Before entering any trade it is very important to figure out how much reward you can reasonably make relative to the amount you are risking. As the trade progresses it is important to remember your pre-defined risk / reward scenario, you really don’t want to take anything less than this pre-defined risk / reward amount unless there is a logical reason to do so like one of the points we discussed above.

If in doubt…

If you find yourself in a profitable forex trade and you are unsure whether or not you should hold or fold it, the first thing you need to make sure you do is NOT let your emotion influence your exit decision as this is one of the most common and detrimental mistakes that forex traders make. If all else fails you can always refer back to this article and the points discussed above, go through them and see if any of them apply to the current trade you are in, you can think of this article as a sort of “check list” for what to do when you are in a winning trade.

The most important and useful thing that you can do when in a profitable trade is to stop and ask yourself, “should I stay in this trade or should I close it?” Have a logical think about it for more than a few minutes and remind yourself that you need to avoid an emotional exit at all costs. Refer back to the points above and ask yourself if any of them apply to you, make yourself a pros and cons list if you need to weigh the advantages of staying in the trade vs. the disadvantages. If after all of this you still cannot control yourself than you might need to seek additional help by reading some of our other forex articles or watch some forex videos. Producing a satisfying outcome for profitable trades is one of the most difficult aspects of successful forex trading, use the information in this article and the logical-thinking part of your brain to decide how to exit your winning forex trades and you will be in a very good position to profit on a consistent basis in the markets.

[youngfx]

How To Trade Key Chart Levels in Forex

Today’s Forex trading lesson contains trading strategies that you can put to use immediately in the markets. We are going to discuss how to trade price action from key levels in the Forex market. Key levels occur in a variety of market scenarios, and we can combine these key market levels with simple price action strategies to obtain a high-probability trading strategy.

Key market levels are the core foundation of all technical analysis and price action trading. By focusing on the raw price dynamics and key levels in a market, we can remove the clutter and confusion that so many trading systems and strategies are full of, and instead trade from a clear and objective mindset. I cover all the concepts discussed in today’s article in greater detail in my trading course, as well as a plethora of other simple yet highly effective trading strategies.

Note: All charts in this lesson reflect the daily time frame.

Trading from support and resistance in trending markets

Trading with the dominant daily trend is the primary technique I use to trade the markets. Much of my course is dedicated to trend analysis and teaching traders to trade simple price action strategies in the context of a trending market. We can look for price action signals forming near levels of support and resistance that develop as a result of the natural ebb and flow of a trending market.

In the example chart below we have the daily GBPUSD showing about the last 4 months of data. What I have done here is simply drawn in the obvious key support and resistance levels and then highlighted the valid price action trade setups that formed near these levels. No magic or “robots” here, just simple common-sense trading using the natural dynamics and levels in the market:

http://cdn1.ltttmstatic.com/wp-content/uploads/keylevels.jpg

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A Beginner’s Guide to Forex Price Action Trading

Today’s lesson is an excellent price action introduction tutorial for all you beginning and aspiring price action traders as well as a good refresher for the more experienced price action trader. Price action trading is the best way to trade in my opinion and there really is no arguing with its relevance and importance. I hope you all enjoy this lesson and that it clears up any confusion or concerns you may have about what price action trading is all about. Don’t forget to leave a comment , tweet it & share it on facebook when you’re done reading.

What is price action?

To put it succinctly, price action is the “footprint” of money. Financial markets are where money is exchanged between market participants, and this exchange of money leaves a trail, this trail is a market’s price movement or price action and it can be observed on a price chart. As Forex traders, we can learn to identify and trade off of the “clues” left behind from price action as it makes its trail across the charts. These clues are called price action trading strategies or price action setups, and when you learn to trade them and harness their power you are a “price action trader”.

These price action trading strategies form as a result of the fact that price movement in markets tends to be somewhat repetitive. Human beings are ultimately behind the price movement of the Forex market as well as other markets, and because human emotions are relatively predictable when it comes to matters of money, their actions in the market often result in price action formations that repeat periodically and that can be very accurate predictive tools of future price direction.

Price action trading involves trading price action strategies from key levels in the market. I am a firm believer that all anyone needs to develop a solid Forex trading strategy is a plain vanilla price chart and some common sense. By combining price action setups with “hot points” in the market, such as core support and resistance levels and dynamic support and resistance levels, we can learn to pick extremely accurate entries that give us the best chance of getting into a profitable trade.

Price action strategies can be traded in any financial market and on any time frame. However, I advise traders to focus their efforts on trading higher time frames first, with the main time frame being the daily chart. I also primarily teach and trade the Forex market because it is the easiest market for retail traders to access, seems to have more periods of trending than other markets, and generally just lends itself well to price action trading.

Why price action?

Answering the question “why trade with price action?” is really pretty simple; because price is the heart of any financial market. It’s like learning to read a book; if you don’t know how to read you will not be able to understand the words in the book or the story they convey. If you don’t know how to read the price action of a market you will not know how to make sense of a price chart or the “story” it is telling you.

Any trader or other source who tries to tell you that you it’s easier to trade off indicators or trading software than price action, is simply in denial of or unaware of the reality of the markets. The reality of the markets is that price movement is the end result of all variables connected to the markets, so why would you want to concern yourself with analyzing anything but this price movement? Traders tend to fall into the traps of forex indicators and forex robots mainly because the people selling these things make bold claims and make them sound like the key to instant riches.

The truth of the matter is that there is no easy way to make money in this world, at least legally. Any short cuts that you think you have found in the markets are only temporary, I can promise you that. You have to learn to read price action if you want to be a trader, there is just no arguing with that, and the longer you put off or deny this fact, the longer you delay your own forex trading success.

The best way to learn price action…

The best way to learn price action can basically be boiled down into three main points:

1) Learn to master one price action strategy at a time. By mastering one price action setup at a time you learn it inside and out, you make it your own, so to speak. Many traders jump from one strategy to the next without really giving each its due time. Specialists in any field are typically the people making the most money; not people who know a little bit about a lot of things. Think of yourself as a “price action specialist” and try to truly master one setup before moving on to the next.

2) Learn to trade higher time frames first. The main reason I teach traders to focus on higher time frames first is because it is the best “natural” defense we have against over-trading. Over-trading is what kills most traders’ accounts, and it will kill yours a lot faster than you think. By focusing on the higher time frames we can benefit from their natural ability to filter price movement “noise” on the lower time frames and thus improve our overall winning percentage, all while trading in a relaxed and stress-free manner.

3) Learn from a successful price action trader. In point one I discussed that becoming a specialist in something is the best way to master it and make money at it. Well, the most effective and efficient way to become a specialist in the field of forex price action trading is to learn from a successful price action trader. You can greatly reduce your learning curve and avoid a lot of trial and error by learning from a skilled and proven trader.

The best way to trade price action…

In my opinion, the best way to trade price action is by trading like a sniper, not a machine gunner. What I mean by this is waiting for the best price action setups rather than trading anything that you think “might” be a setup. After you master all my price action trading strategies and concepts you should have no doubt of what you are looking for in the market. At that point trading is simply a game of patience; a game of waiting for the perfect price action setup to come into view, and then “shooting it” or trading it flawlessly. There is definitely a positive correlation between the amount of patience one has and their trading account value.

[guruvhai]

Top 10 forex Trading Mistake's

1. Trading with indicators and fancy tools

2. Not fully understanding and implementing risk / reward

3. Not understanding position sizing

4. Not having a Forex trading plan

5. Gambling instead of trading

6. Allowing emotions to cloud judgment / giving into emotions

7. Not having patience

8. Not trading higher time frames

9. Over-trading / being too involved

10. Not taking profits

Top 06 forex Trading Deathly Sin's

1. Reliance on the Experts.
2. Setting the wrong goal and trading target.
3. ot paying proper attention to drawdown.
4. Forgetting to practice, practice, and practice.
5. Falling in love with a trade.
6. ot checking your emotion.

[hmbelal]

in point one I discussed that becoming a specialist in something is the best way to master it pan make money at it well the most effective and effective way to bevome a specialist in the field of forex

[youngfx]

20 f0rex mistakes


�Forex: Trading is not easy like everyone thinks, first comes the studying and learning, then discipline, and on top of all of that is the pressure that traders must face at times.�
-A wise trader in my trading rooms.

Hello my Friends and Traders! This is the complete forex mistake blog post. I have been working hard on this post compiling and working to make it very helpful to the traders for a long time to come. I want to thank my friends on twitter and from my trading room in helping me compile the list. Since this list is going to help many traders I am going to ask that you please ReTweet this list and also share it on Facebook with the buttons on the top left. This is a guide I want to put in the hands of traders to help them be armed with ideals that will help traders forever.

Please leave a comment on which one is your favorite mistake :) or at least the one that you have done the most. Also if I missed some please let me know and I will add it to the list when I update this post.

I am going to elaborate on each one of these mistakes so there is no confusion.

1.Putting in too much money and not having any trading experience�Many traders will put a lot of money into the market with no real trading experience. Learning to trade is highly developed skill and if you jump into it with little experience it is like dressing up to play in an NFL football game and jumping in when you have never played before. You will get killed!

2.No Training Experience�Trading is a skill that must be learned. You need to read and study to get it. It is best to learn in person while you are sitting with a seasoned trader. That is my opinion and it certainly was the case for me. I am not saying you have to pay for training because there is certainly a lot of great education on the internet for free. Either way there is a price to be paid in your learning curve. It takes time, effort, and practice to learn.

3.False expectations�Believing you will make a million dollars with no experience.
You must prove yourself and learn to make money in trading. You can make a million dollars but it is just like starting your own business from scratch it is going to take some time.

4. Stop loss too tight�(dying the death of a thousand cuts.) Price action in trading is whippy, meaning the price moves up and down very fast. Even if you have a good trade and your stop is too tight your win percentage can decrease dramatically. However this can be adjusted depending on you who you are and your strategy

5.Taking Large Stop Loss�Just as too small a stop loss is going to hurt, so is too large of a stop loss. Choose one that is right for that trade and then adjust risk.

6.Not having profit targets�If you don�t know where you are going how are you going to get there. If you don�t have profit targets then the trade can turn quickly and you can see a winning trade reverse into a losing trade.

7.Over Trading�Taking too many trades will gives you less time to think about what you are doing and increases your chances of making a mistake.

8.Opening too many positions at once�If you have too many open positions it can cause you to have too much size on for your account and can lead to disaster. Also if you are adding to different trades at the same time many of those pairs are correlated which means if one trade go against you all of them could go against you.

9.Not having a good understanding about margin rules and requirements�Over leverage is the #1 killer of forex traders. When you go too far you get a margin call. Therefore get educated about margin calls and adjust accordingly.

10.Not having a trading plan�I truly cannot understand why traders just jump into trading without having a plan. If you don�t have a plan, you�re planning to fail.

11.Not setting goals�In each plan you should have trading goals, maybe to start the goal will be to following your plan. Or perhaps a profit goal, one point keeps it within reach. Small steps lead to success. Baby steps are important we must learn to crawl before we can walk. If you make your goal to large and it is not reasonable to reach then that can create discouragement.

12.Not understanding money management�Money management means using the proper amount of risk for your trades and is very important in long term success. Having a money management strategy needs to be incorporated into your trading plan.

13.Not having a defined strategy�Inside of each trading plan is the component of a strategy or several strategies. A strategy is a step by step instruction on what guides you on how to enter your trades. This is just like your plan and will change all the time but you need to have one so you can monitor your performance and see what is working and what isn�t.

14.Not following your plan�What good is a trading plan that you don�t follow? Follow your plan so you can see what is working and what isn�t

15.Entering impulse trades just to be in the market�You don�t have to have a trade on all the time. Be patient and wait for the setup.

16.Following gurus blindly�This one has killed many traders. I have heard many traders that have loaded up on a trade because a so called guru will say this pair is going to this level. Learn a system and don�t be a follower.

17.Listening to everyone/ Too much info�In today�s social media communication world, sometimes there is information overload. Find a few trusted friends and filter out the rest. However make sure they are trusted don�t listen to someone that has no track record.

18.Listening to no one�You alone are responsible for your trades and you alone must make trading decisions. However we all need to be challenged and sharpened by others. Some make the argument that in trading you must be alone but that is not true. I put myself around the best because I want to learn from the best and I want to be the best. Listening to no one and being isolated won�t help much.

19.Not Understanding pip cost�Each pair has a different value some traders don�t know which pairs have which value and that has an impact on your money management.

20.Using the wrong broker�This is a huge mistake traders make getting started. Some brokers are just scam artists. Don�t believe broker review sites either because they usually are associated with the broker or get a commission. My best advice is to ask a trusted friend about their broker.

---------- Post added at 11:09 AM ---------- Previous post was at 11:07 AM ----------

forex mistakes


Common Forex Mistakes To Avoid

When getting started in forex market trading, there are some forex mistakes to be avoided. Given below is the list of some of the common mistakes in forex market which can be avoided. Take a look at the below information as it will also help you make profit from forex market trading.
Day Trading

Day trading in forex market is probably one of the most common forex mistakes online made by many traders. It is really very difficult, if not impossible to interpret the leading indicators. This results in a situation where it is more likely that traders will lose their investments.

These types of common forex mistakes can be avoided. All you need to understand is that little fluctuations happen all the time and it is better to forecast about future by analyzing events and knowing which market event can indicate an occurrence of spike in near future.
Constant Trading Wins

it is another misconception which leads to forex mistakes and costs highly to a forex market trader. One should clearly understand the fact that the winning moments in forex market do not present itself on a weekly or daily basis. These are few and far in between. In the mean time, to avoid these forex mistakes a trader should simply look for when these best moments are about to happen and ensure that to place a bid when it happens. Although smaller profits can certainly be earned at other times, however they will be quite nominal.
Predicting the Forex Market

This is another one of the most common mistakes in forex market made by many investors. In order to predict the forex market, too many actual factors need to be taken into consideration. The safe approach is to simply keep an eye on when these positive market fluctuations are starting in the forex market and jump on for the ride to make profit. The important thing to do here is exit the trades before it starts losing momentum and you are in the position to trade the earned pips in for cash.
Forex Trading Is Easy

Another often done, one of the common forex mistakes. Many people think that trading forex is an easy business. However, the reality is that it requires proper learning to process to know each and everything about how to trade in forex market. Because trades think it is easy, they often jump in before they are actually ready and this results in loosing lot of money unnecessarily. To avoid these kinds of forex mistakes, it is important to practice longer and ensure that your system works on a continued basis before real money gets involved.
Decision based on Emotions

No doubt, trading in a forex market provides great opportunities to make some extra money. However, to be successful in forex trading, it requires discipline and proper learning to know how to trade forex. There is absolutely no role of emotion in it. Therefore it is important to watch over those emotions which are often so easily swayed. Avoid these common mistakes in forex market by controlling your emotions and learn proper forex trading with practice and hard work so that it turns out to be profitable for you.

[youngfx]

here i bring to u six deadly mistakes traders m,ake


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 na�ve 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

[kalponick]

Its not bad to make mistakes in your trading.. Everybody did this... even expert traders made huge mistakes in their trading.. But doing the same mistake again and not learning anything from your mistakes is the bad thing.. This is why no matter what you do, you must analyzed your mistakes so that you can learn and also earn from those in you future trading..

[emir]

one of the common forex mistakes are many people think that trading forex is an easy business. However, the reality is that it requires proper learning to process to know each and everything about how to trade in forex market. Because trades think it is easy, they often jump in before they are actually ready and this results in loosing lot of money unnecessarily.

[meheding]

Many of new traders lose cz of greed & patience. So if one want to be a good trader he must avoid this............:)

[cfxsignals]

I think that the best thing to consider when you are trading and getting losses, that losses are not necessarily mistakes. The only mistakes that you make in forex is not following your plan. I think as long as you follow your plan, you are right, if you don't you are wrong.

[sammy]

thanx a lot. i read your whole story. and the stuff you wrote about forex trading psychology, well it matches with my condition. i went through the similar situation after facing some serious losses. i am greatly benefited

[CHRYSS]

wow... it's amazing post and very useful for beginer like me
useful explanation
:happy:

[muhammadatif]

Thanks brother your article is too much good and informative for traders and especially of new traders. If any trader read it carefully he learns many points from its which can help to become a good trader. I want to become this type if trader also.

[ishvara]

Yes many forex currency traders fail in this business because of their own mistakes. To mention an important point, it is obvious that our emotions is the main causes of these kinds of losses in forex trading.

[sweetrevenge88]

The only sin I can do in my forex trading is allowing myself to be tempted in using high lot size in my trading causing me to lose heavily specially margin call because my account capital is small. That is one of my biggest weakness. But then I also discover that using high lot size is not bad at all specially if you got the right analysis.

[sairin]

Discuss price action trading is very enjoyable just after practice on metatrader can not understand the forms correctly so that the candle does not have the confidence but if it can master the price action can certainly profit in forex

[Shaon]

What is Forex? It is an easy and convenient way to gain money. Presently, due to widespread development of Internet technologies and presence of a large number of brokerage companies, online Forex trading is accessible for everyone. You can stay at home, in the office or in a caf� and carry out transactions at Forex via your PC or mobile phone. All you need is just access to Internet and registration of a trading account with a brokerage company. Currency trading is a reliable way to earn money where the amount of earning depends solely on you.

[kashifrehman]

We can learn fast if we learn from our mistakes and the experience that we get from mistakes that we remember for ever lasting. I take every mistake as mistake but when we met with the same mistake again and again at that time that is a sin for our trading.

[biyen]

A Big Mistake Traders whether traders or traders who have long wrestled with the world is inseparable from the emotional trading and trading management are applied. While this is still a lot we met a trader who just know about the world primarily in forex trading, and just beginning to explore the science of the forex after the claim itself as a reliable and profitable trader because it has started to feel some times profits after the market entry

[saiful]

Mistake is a common word for a traders. Many condition mistakes a traders. Example- Minimum investment, maximum volume trade and not apply money management, Many many open trade.

[cherrytrade]

Mistakes
Risking too much
Not Having Confidence
Trying To Be To Clever
Risking More Than 1% of Capital
Unrealistic Expectations
Never admitting you�re wrong
Trading live before demo
Too much leverage
Letting emotions control you

[abbey ak]

well as for me i think most mistakes most forex traders make is when they fail to take little profit which the market can offer then and they insist in making the higher number of pips this really make them lose there ginned profit and also blow off there account so i think the best way is to take the little profit we can get from

[akshay1728]

i think entry and the exit point are the most important think the trader must choose the right entry and the exit point otherwise it become very difficult to get the success

[blackmamba]

Top 10 forex Trading Mistake's

1. Trading with indicators and fancy tools

2. Not fully understanding and implementing risk / reward

3. Not understanding position sizing

4. Not having a Forex trading plan

5. Gambling instead of trading

6. Allowing emotions to cloud judgment / giving into emotions

7. Not having patience

8. Not trading higher time frames

9. Over-trading / being too involved

10. Not taking profits

Top 06 forex Trading Deathly Sin's

1. Reliance on the Experts.
2. Setting the wrong goal and trading target.
3. ot paying proper attention to drawdown.
4. Forgetting to practice, practice, and practice.
5. Falling in love with a trade.
6. ot checking your emotion.

5. Gambling instead of trading
a person will not in gambling instead of trading then he is in the state to risk all of his money to loss, if he is a trader who follow the strategy, adopted by the analysis of currency movements. and can predict what will happen next. then hee are not a casino trader

[Cowboy]

huge and made a very large description about forex lose and sin.when we expect huge amount profit in trade then we use huge risk in trade.And for such a sin traders lose their money and leave forex forever.

[hendarto]

I think a mistake in trading there are two kinds, first of ourselves both from the outside. losses are not necessarily wrong. The only mistake you make in forex is to follow your plan. I think as long as you follow your plan, you are right, if you do not you wrong. for that we must remain focused in the analysis. because I think a lot of traders make the mistake of carelessness yourself.

[emir]

Many traders fail because they do not run the discipline in trading. Discipline is a major problem in conducting the transaction. Lots of traders who have failed and spent thousands and even millions of dollars and then aware of the meaning of a discipline

[roopesh11]

Ek din mujhse ye galti ho gaya tha trading ke waqt ki mai position ko modify karne ke bajay usko close kar diya ye achanak mujhse ho gaya. Mai jab baad me dekhe to mera 153$ loss ho gaya tha. ye mera bohot bada galti tha. Abhi mai sab kuch check karke karta hun.

[hitcola]

I think that the first sin is that we don't focus on trading with one thing! << Learning one thing, learn it well, do it over and over again >> that is the best wisdom I heard on this market and I should do it

[antnetwork]

I do not believe that forex has any problem. Except any technical error or speed problem there is nothing mistake in forex. Only people can make their functional mistakes and assign it forex problem. We need to find out our problems and must try to overcome on it.

[sweetrevenge88]

Problems with greed is a common problem among traders new and old alike. They tend to repeat the same problem because greed looks to be more powerful than their self control. Takes a long time before greed can be controlled,starts disciplining yourself so that you can control your greed.

[esif]

forex mistakes and sins.
That is quite beautiful list of fact in trading and i agree to that, and also i have learned some really good things from the forum and that is like, Don't be confident with your trading, risk 2% of capital, keep a reserve for a good entry possibility etc...

[chocho2008]

Can summarize all of these points in a very important point not only is greed

[cfxsignals]

Some good advice there. I like the bit about being risk adverse after losing. Its called fear. Fear and greed are huge in forex and are very difficult to control.

[atiqrehman]

nice article but in Indian Forex Forum i like shorter Post because you have small time to read it I agree with your all points in this post But Sins are only your personal matter you should relate it to Forex trading you can wash your sins though detergent of Prayer but i Forex without Fundaments you will lose all your investment and nothing to do

[biyen]

Not having a trading system is a major mistake in forex. If you do not have a trading system, then you will tend to trade based approach arguably plus disheveled mess How could you expect success from a bad method. Traders who have a trading system means you have the guidelines and objectives and a clear way of achieving goals in areas of trading. Having a trading system increases the chances for success, because you have guidelines for entry, exit market or standing a side. In other words, you are definitely on track to achieve your goals.

[asma abdo]

97 Top Forex Mistakes

---------- Post added at 12:47 AM ---------- Previous post was at 12:46 AM ----------

97 Top Forex Mistakes “Forex: Trading is not easy like everyone thinks, first comes the studying and learning, then discipline, and on top of all of that is the pressure that traders must face at times.”
-A wise trader in my trading rooms.

Hello my Friends and Traders! This is the complete forex mistake blog post. I have been working hard on this post compiling and working to make it very helpful to the traders for a long time to come. I want to thank my friends on twitter and from my trading room in helping me compile the list. Since this list is going to help many traders I am going to ask that you please ReTweet this list and also share it on Facebook with the buttons on the top left. This is a guide I want to put in the hands of traders to help them be armed with ideals that will help traders forever.

Please leave a comment on which one is your favorite mistake :) or at least the one that you have done the most. Also if I missed some please let me know and I will add it to the list when I update this post.

I am going to elaborate on each one of these mistakes so there is no confusion.

1.Putting in too much money and not having any trading experience—Many traders will put a lot of money into the market with no real trading experience. Learning to trade is highly developed skill and if you jump into it with little experience it is like dressing up to play in an NFL football game and jumping in when you have never played before. You will get killed!

2.No Training Experience—Trading is a skill that must be learned. You need to read and study to get it. It is best to learn in person while you are sitting with a seasoned trader. That is my opinion and it certainly was the case for me. I am not saying you have to pay for training because there is certainly a lot of great education on the internet for free. Either way there is a price to be paid in your learning curve. It takes time, effort, and practice to learn.

3.False expectations—Believing you will make a million dollars with no experience.
You must prove yourself and learn to make money in trading. You can make a million dollars but it is just like starting your own business from scratch it is going to take some time.

4. Stop loss too tight—(dying the death of a thousand cuts.) Price action in trading is whippy, meaning the price moves up and down very fast. Even if you have a good trade and your stop is too tight your win percentage can decrease dramatically. However this can be adjusted depending on you who you are and your strategy

5.Taking Large Stop Loss—Just as too small a stop loss is going to hurt, so is too large of a stop loss. Choose one that is right for that trade and then adjust risk.

6.Not having profit targets—If you don’t know where you are going how are you going to get there. If you don’t have profit targets then the trade can turn quickly and you can see a winning trade reverse into a losing trade.

7.Over Trading—Taking too many trades will gives you less time to think about what you are doing and increases your chances of making a mistake.

8.Opening too many positions at once—If you have too many open positions it can cause you to have too much size on for your account and can lead to disaster. Also if you are adding to different trades at the same time many of those pairs are correlated which means if one trade go against you all of them could go against you.

9.Not having a good understanding about margin rules and requirements—Over leverage is the #1 killer of forex traders. When you go too far you get a margin call. Therefore get educated about margin calls and adjust accordingly.

10.Not having a trading plan—I truly cannot understand why traders just jump into trading without having a plan. If you don’t have a plan, you’re planning to fail.

11.Not setting goals—In each plan you should have trading goals, maybe to start the goal will be to following your plan. Or perhaps a profit goal, one point keeps it within reach. Small steps lead to success. Baby steps are important we must learn to crawl before we can walk. If you make your goal to large and it is not reasonable to reach then that can create discouragement.

12.Not understanding money management—Money management means using the proper amount of risk for your trades and is very important in long term success. Having a money management strategy needs to be incorporated into your trading plan.

13.Not having a defined strategy—Inside of each trading plan is the component of a strategy or several strategies. A strategy is a step by step instruction on what guides you on how to enter your trades. This is just like your plan and will change all the time but you need to have one so you can monitor your performance and see what is working and what isn’t.

14.Not following your plan—What good is a trading plan that you don’t follow? Follow your plan so you can see what is working and what isn’t

15.Entering impulse trades just to be in the market—You don’t have to have a trade on all the time. Be patient and wait for the setup.

16.Following gurus blindly—This one has killed many traders. I have heard many traders that have loaded up on a trade because a so called guru will say this pair is going to this level. Learn a system and don’t be a follower.

17.Listening to everyone/ Too much info—In today’s social media communication world, sometimes there is information overload. Find a few trusted friends and filter out the rest. However make sure they are trusted don’t listen to someone that has no track record.

18.Listening to no one—You alone are responsible for your trades and you alone must make trading decisions. However we all need to be challenged and sharpened by others. Some make the argument that in trading you must be alone but that is not true. I put myself around the best because I want to learn from the best and I want to be the best. Listening to no one and being isolated won’t help much.

19.Not Understanding pip cost—Each pair has a different value some traders don’t know which pairs have which value and that has an impact on your money management.

20.Using the wrong broker—This is a huge mistake traders make getting started. Some brokers are just scam artists. Don’t believe broker review sites either because they usually are associated with the broker or get a commission. My best advice is to ask a trusted friend about their broker.

21.Not knowing how to use your trading platform—This is another one that many traders make and it costs them money. Take some time and practice with the platform before you trade live. Read the manual and test it well. Then start with a small account and build trust in the platform and experience using it.

22.Not understanding the difference between ask and bid pricing—You buy and sell at a different price the area in-between is called the spread and that is the amount that goes to the broker for executing the transaction.

23.Thinking you can just follow someone’s trades and be profitable—The reason this won’t work is because timing is everything in trading. Even if the person you are following is making money then you still have to time it perfectly to do well. This takes experience and practice. Sorry, there is just nothing that is going to get you out of experience and practice.

24.Letting trades run against you —The longer a trend runs the more power it gains, thinking “it has to come back” has been many a traders infamous last words. Don’t let it run so far away it drives your account to zero.

25.Going for the big one! ( putting all your money in one trade) –This is gambling, don’t do it.

26.Emotion Based Decisions—Getting emotionally led we all have emotions because its money on the line but we can’t let our emotions make our decisions. This applies to trading and real life, usually when our emotions are running things then we make bad choices.

27.Not being financially ready to trade—If you do not have the money to trade then do not trade, it is as simple as that. Trading with money you need to pay bills or live off of is disaster especially if you do not have a long proven track record of successful trading.

28.Putting too much pressure on yourself—Trading is a high pressure task by itself, when you have to make the trade for the money then the pressure gets much greater. Usually you will find yourself making mistakes. Relax and follow your plan.

29.Not having a clear understanding of Technical analysis—Market Fundamentals do drive markets but if you are trading based on fundamental analysis, you still need to have a good handle on technical analysis. I have said it before timing is important in trading and technical analysis can help you spot the best entries.

30.Trading the News not being properly prepared—News trading is a favorite trade for many traders but this additional trading skill takes time to learn. If it was easy everyone would do it. Do your research and practice before risking large amounts, even better talk to someone that is really good at it?

[youngfx]

thank you all for making this thread to be great, cos i also learn from you all....i have learnt that trading forex is not an easy task dat one need to learn everyday of which am learning.

---------- Post added at 04:10 PM ---------- Previous post was at 04:07 PM ----------

Forex Trader Vs Forex Gambler?

Today’s lesson is going to open your eyes and help you decide if you are trading or gambling, so I want you to read the whole thing very closely, three times over if you have to. You should read today’s lesson even if you don’t think you have a problem with gambling in the markets, because you will surely pick up some useful advice that will work to improve your overall trading results.

Gamblers fund $500 accounts, blow them up and fund them again with another $500, they repeat this process over and over again without changing their routine, mindset or their strategy; they do the same thing week in and week out expecting to actually make money. I believe it was Einstein who said “doing the same thing over and over again and expecting different results is the definition of insanity”… so we could even go so far as to say that continuously gambling with your Forex trading account is not only financially problematic, but it’s insane.

Any business like trading where you are your own boss and there are basically no rules except the ones you make can be addictive and induce gambling qualities. Now, I am not here to tell you have a gambling problem; I am here today to help you recognize that you may be trading like a gambler and you need to make a change and start trading like a professional. This lesson will help you transition your mindset and your daily routine into that of a professional trader’s, so that you can avoid throwing anymore of your time and hard-earned money down the drain.
The difference between pro trading and gambling…

In trading, we have the possibility to do almost unlimited financial damage to ourselves. There are basically no rules in the trading arena, it’s just you versus you, and the winner or loser will be you. Sure, you can think you’re trading against other market participants, but in reality you are trading against yourself. You are the one who determines whether you make or lose money in the markets. My point is that when you put a human being in this unbounded trading environment, they have nearly unlimited temptation to gamble with their money, so we have to devise a plan to combat this temptation. Many traders think they are ‘trading’ when in reality they are behaving exactly like someone with a gambling problem.

Since it’s so easy to fall into a cycle of gambling as a Forex trader without even really being aware of it, it’s important that we go over some of the basic traits of both a gambler and a pro trader so that you can determine which best defines you:

Basic traits of a gambling Forex trader:

• Has no trading edge or effective trading strategy
• Doesn’t have or use a trading plan
• Doesn’t have or use a trading journal
• Pays little to no attention to risk management
• Spends most of their time focused on profits and rewards
• Often feels intense emotional ups and downs while trading
• Often holds trades in blind hope of unrealistic profit targets
• Trades far more often than they should

Basic traits of a professional Forex trader:

• Mastered an effective trading strategy like price action
• Has a Forex trading plan and uses it
• Has a Forex trading journal and uses it
• Focuses on risk management and on controlling risk on every trade
• Not overly-focused on profits and rewards
• Trades only when their trading edge is present.
• Does not become emotional over a win or a loss
• Treats their trading like a business

As we can see from the traits of a gambling Forex trader listed above, we are mainly dealing with psychological ‘traps’ and pitfalls that we create for ourselves as we interact with the market. I would say that if two or more of the traits of gambling Forex traders we listed above apply to you, then you need to take some action.

Unlike normal gambling addictions, a trader can break a cycle of gambling-like behavior if they will accept that they need to change their habits and then follow a predefined plan of action to start thinking and trading like a pro.

---------- Post added at 04:12 PM ---------- Previous post was at 04:10 PM ----------

the gambling traps that snare amateurs and that pros avoid…

A few winning trades often misleads amateur traders into thinking they are ‘onto something’. But what usually happens is they hit a big winner and then they give it all right back, and usually more. This cycle of winning here and there and then giving all your gains back, works to keep traders in a cycle of gambling in blind hope, and it slowly depletes their accounts until their gone. Humans are wired to fall prey to this trap of randomly distributed rewards. What happens is once we hit a few winners via luck, we sort of view that as some ‘special trading ability’ and then we just end up gambling our money away in a futile attempt to keep winning. There are scientific studies that show that we condition ourselves to repeat self-destructive behavior like this for the allure of a large randomly distributed reward…playing the lottery comes to mind here…or going to the casino and hitting one nice sized jackpot and then spending countless hours and dollars trying to hit another.

You have to recognize this gambling behavior and try to break through it, because it really is a part of our wiring to trade like a gambler. Luckily, we have large brains with highly-developed pre-frontal cortexes that can plan and think long-term amongst other things. This is our primary tool to use in defending against our more primitive brain areas that tend to naturally dominate most of our actions in the markets and cause us to gamble.

A professional forex trader is constantly managing their risk and thinking about it. They are disciplined and they follow a strict routine, they know they are in the business of trading and they treat it as a business. A pro trader is not fazed by a winning trade or even a series of winning trades; they are emotionally neutral on a loser or a winner. Professional traders are more emotionally excited about their ability to stay true to their trading plans and capital preservation plans than they are about the outcome of any one trade…because pro traders know if they can manage their bankroll properly they will end up out front. If you want to learn professional Forex trading strategies and concepts that will help you transition from a gambler to a successful trader, checkout my Forex trading course and members’ community.

[youngfx]

v s olutions for the gambling Forex trader…If you find that two or more of the above traits of Forex gamblers describe you, it’s time to do something to change them. There’s nothing wrong with admitting that you are gambling in the markets, it happens to all of us, I have even been guilty of it in the past. What you should focus on is changing this behavior and on constantly trying to improve yourself both as a trader and as a person. Let’s have a look at some of the most important things you can start doing today to transition yourself from a gambling trader to a professional trader.

A checklist for the gambling Forex trader:

• First thing is to stop trading with real money. You’re going to have to take a break from trading real money to cut out the emotion and regroup effectively.

• Second, make sure you: A) Have a trading strategy that you know can be a high-probability trading edge, like price action trading strategies, and B) Fully understand how to use this strategy and you’ve demo traded it long enough to feel you have ‘mastered it’.

• Create a daily checklist or Forex trading plan. This should essentially be your daily trading routine…write down your daily trading routine so that you have a guide to follow each day, this way you’ll be far less likely to enter random trades or ‘wing it’. This will help you view your trading more as a business and less as a trip to the casino.

• Have a risk management plan, and make sure you actually adhere to it by being aware that you never know when a losing trade will come up. In other words, your trading edge is randomly distributed across a series of trades, so don’t ever assume any one trade will be a winner and risk more than you are comfortable with.

• Start tracking all your trades in a journal…don’t deviate, if you don’t have a trading journal you can get one here.

• Limit your time in the market by setting a maximum of 3 trades per week until you feel you are not gambling anymore. This will give you a strict rule to follow and help instill some discipline into your trading routine.

• Be confident in your trading strategy and rely on the long-term edge to recover any short-term losses, rather than trying to get ‘revenge’ on the market and jump right back in after a loser.

• Constantly be aware of your mindset and try to control your emotions in the market by doing the things discussed above. If you feel yourself getting an urge to trade for no reason or to risk more than you should, simply remove yourself from the markets. Also, work in a section on maintaining the proper forex trading mindset into your trading plan and read it every day.

Professional Forex trading is all about habits, and the first step to changing your habits from a gambling trader to those of a pro trader is by determining whether or not you have a problem. If you are bold enough to be honest with yourself about this and find that you do have a problem, please try to follow the above points at least for one month and see if your trading, mindset, and general physical state of well-being don’t improve.

---------- Post added at 04:16 PM ---------- Previous post was at 04:14 PM ----------

v s olutions for the gambling Forex trader�If you find that two or more of the above traits of Forex gamblers describe you, it�s time to do something to change them. There�s nothing wrong with admitting that you are gambling in the markets, it happens to all of us, I have even been guilty of it in the past. What you should focus on is changing this behavior and on constantly trying to improve yourself both as a trader and as a person. Let�s have a look at some of the most important things you can start doing today to transition yourself from a gambling trader to a professional trader.

A checklist for the gambling Forex trader:

� First thing is to stop trading with real money. You�re going to have to take a break from trading real money to cut out the emotion and regroup effectively.

� Second, make sure you: A) Have a trading strategy that you know can be a high-probability trading edge, like price action trading strategies, and B) Fully understand how to use this strategy and you�ve demo traded it long enough to feel you have �mastered it�.

� Create a daily checklist or Forex trading plan. This should essentially be your daily trading routine�write down your daily trading routine so that you have a guide to follow each day, this way you�ll be far less likely to enter random trades or �wing it�. This will help you view your trading more as a business and less as a trip to the casino.

� Have a risk management plan, and make sure you actually adhere to it by being aware that you never know when a losing trade will come up. In other words, your trading edge is randomly distributed across a series of trades, so don�t ever assume any one trade will be a winner and risk more than you are comfortable with.

� Start tracking all your trades in a journal�don�t deviate, if you don�t have a trading journal you can get one here.

� Limit your time in the market by setting a maximum of 3 trades per week until you feel you are not gambling anymore. This will give you a strict rule to follow and help instill some discipline into your trading routine.

� Be confident in your trading strategy and rely on the long-term edge to recover any short-term losses, rather than trying to get �revenge� on the market and jump right back in after a loser.

� Constantly be aware of your mindset and try to control your emotions in the market by doing the things discussed above. If you feel yourself getting an urge to trade for no reason or to risk more than you should, simply remove yourself from the markets. Also, work in a section on maintaining the proper forex trading mindset into your trading plan and read it every day.

Professional Forex trading is all about habits, and the first step to changing your habits from a gambling trader to those of a pro trader is by determining whether or not you have a problem. If you are bold enough to be honest with yourself about this and find that you do have a problem, please try to follow the above points at least for one month and see if your trading, mindset, and general physical state of well-being don�t improve.

[forex blaster]

I agree with you so much and all of those information and advises are very true in forex trading.Your threads helps me a lot to know about those common mistakes and sins which is done by most of traders .We have need to be a patient to avoid those mistakes.

[SamMas]

Nice to see only this time I share that contains many interesting words and weighted to read to increase knowledge about the trading that is good advice, thank you for practice sharenya hopefully useful to us all

[Prolific Entity]

Mistakes are unavoidable, although the frequency of the mistakes would determine how organized a trader is. One should always apply caution when executing trades in order to minimize the chances of making mistakes.

[nymukta]

I really have a good concept about the forex mistakes. I am going to states a few biggest mistakes.
They are:

* The main reason behind forex mistake is ''having no plan.'' A forex trader must have a scheduled plan and he has to follow that.
* Start the trading straight away. A person needs to work with a demo ID before starting to trade with real money.
* Over trading is one of the greatest forex mistakes. It may bring a massive hazard in ur business.
* you will surely go down if you don't apply the money management policies accurately.
*Finally gambling would be a curse in ur trading and it can ruin you.

I hope I've at least given you a better concept.But please read articles from expertise to gain more knowledge about forex mistakes.

Thank you

[samyng]

once more thing to add which is trying as much as possible not to allow our needs and wants affect our trading decisions. we just need to wait for our systems to give us an alert before taking any trade decisions

[ishvara]

Not having a trading system is a major mistake in forex. If you do not have a trading system, then you will tend to trade based approach arguably plus disheveled mess How could you expect success from a bad method. Traders who have a trading system means you have the guidelines and objectives and a clear way of achieving goals in areas of trading. Having a trading system increases the chances for success, because you have guidelines for entry, exit market or standing a side. In other words, you are definitely on track to achieve your goals.

Also not having a forex trading plan is a big problem that face many forex traders and cause their losses. We must be prepared at all times so that we will not be taken unawares in this forex business. PLANNING is too important in forex trading.

[agie]

Wow! What an article. You really have written it so nicely and easily that anyone can understand what you are trying to say. This is one of the best articles that I have read in last couple of weeks in this forum.

it is also true is indeed very good atikel gan, to be imitated and so that we can try to better the further study

[sitiz]

Trading based on price actions can indeed make a huge profit because in this way we can know the trend trader in general just to be able to understand the price actions is not easy for novice traders

[JBP]

क्या एक कहानी. यह वास्तव में बहुत अच्छा लिखा है और आसान है कि किसी को भी समझ सकते हैं कि आप क्या कहने की कोशिश कर रहे हैं. यह सबसे अच्छा लेख मैं पिछले दो हफ्तों में इस मंच में पढ़ा है में से एक है.

[suzonbmw03]

Forex Traders have a tendency to sabotage their own efforts in the market, and most of them don�t even know they are doing it. The inherent paradox of trading is that the harder you try to make money or avoid losses, the more these things tend to elude you.These types of common forex mistakes can be avoided. All you need to understand is that little fluctuations happen all the time and it is better to forecast about future by analyzing events and knowing which market event can indicate an occurrence of spike in near future.

[seeker]

learn to read the conditions of the forex battlefield , great generals of the past would spend years learning battlefield tactics, luckily we can achieve this in a couple of months..

[suzonbmw]

Friends,Forex Traders have a tendency to sabotage their own efforts in the market, and most of them don�t even know they are doing it. The inherent paradox of trading is that the harder you try to make money or avoid losses, the more these things tend to elude you.Please leave a comment on which one is your favorite mistake or at least the one that you have done the most. Also if I missed some please let me know and I will add it to the list when I update this post.

[aptx4869]

I think forex is great business. we can gain good money if we are success to make good trade, but if we are failed to make good trade we will beat by market. So, If we want to make something good we must try to avoid mistakes on analysis. I think avoid a mistakes on forex is not a sins. we are trade on legal and legitimate business. So we are trade on the right side. It was not sins if we are trade on forex.

[nasim39]

Trading with the dominant daily trend is the primary technique I use to trade the markets. Much of my course is dedicated to trend analysis and teaching traders to trade simple price action strategies in the context of a trending market. We can look for price action signals forming near levels of support and resistance that develop as a result of the natural ebb and flow of a trending market.

[riky]

Trading based on price actions can indeed make a huge profit because in this way we can know the trend trader in general just to be able to understand the price actions is not easy for novice traders

before you want to benefit a lot of forex market you must first understand the price action so that you can predict the price by looking at trends in the forex market because it is not easy

---------- Post added at 07:26 PM ---------- Previous post was at 07:23 PM ----------


Trading based on price actions can indeed make a huge profit because in this way we can know the trend trader in general just to be able to understand the price actions is not easy for novice traders

before you want to benefit a lot of forex market you must first understand the price action so that you can predict the price by looking at trends in the forex market because it is not easy

[abayomi kolade]

i think i like this you have given all the necessary information needed to be know to all traders and i think over trading is one of the major problem most forex traders face in the market so going through this analysis will sure given more information to all traders on the best way to go about forex, thanks for sharing

[dibash]

1. Being A Greedy Fool - no offence, but I have to say this as it is. So far, greed is one of the original deadly forex sins, besides, apart from the world of forex trades, greed is a punishable offence and one which many other sins are borne out of. Even though it is human nature to become greedy when money or other material things are involved, all traders are advised to avoid being slaves to greed. It has become so bad that most traders are no different from gamblers at the casino; they are all just chasing the 'big win'.

It is quite unfortunate that it's an addictive game that gets in the blood and doesn't get out easily; perhaps until you 'snap out of it' somehow, maybe from losing a significant amount of money. It is ok if you are making a 1 to 2 or 1 to 3 risk reward on most of your trades, as a matter of fact, it is actually 'professional standard', and there's absolutely NOTHING wrong with it. If you keep chasing the elusive 'big winner' on every trade, you are going to continue to not take profits when they are staring you in the face, that is how you will end up in your cycle of losing, breaking even, and taking tiny gains.

2. Risking Just Two Per-cent of your account - this is just outrageous, in one of my articles, I made it known that in order to avoid emotional trading, you mustn't trade with a money that will lead you to have problems sleeping. However, this does not mean that you should trade with a fixed portion of your account. In truth, it's a problematic approach, and it could be keeping you stuck in a cycle of weak trading performance. Most traders think risking 2% or some fixed % of their account a great idea, because they believe it enables them to lower their position size ****ually while they hit losing trades or boost their position size ****ually as they build their accounts. Whilst the thought of increasing their position dimension ****ually as they build their accounts might be decent logic, the thought of reducing their position size after every losing trade is simply out of it.


Allow me to explain this better, imagine that upon trading with Two percent of your account that you lost 50 per cent - of course you should know that to be able to breakeven you may have to make 100 % of your account. Now utilizing the "fixed percentage rule", that's risking precisely the same amount, how do you expect to generate a big gain in the market? Since your task is to make 100% on your account with a position size that's 50% small compared to what you were trading. No offence, but when you can't see what I'm saying here, then perhaps for the reason that prehaps you are restricted with the "fixed percentage rule".

3. Combining trading methods - many traders often enquire about merging trading methods, therefore i have to say this now, the bottom line is that you don't 'blend' trading methods; you simply need something logical and real. Many traders who stick with trading for enough time eventually find out that they aren't helping them selves by plastering indicators in their charts or learning some new 'so hot' 'get money quick' trading system. A large number of tips are what you will really find on some sites which are jokes folks sure looks truly great, but actually they are just wasting time and masking over the reality of exactly what it will take to trade successfully, and that is why combining complicated and messy trading methods with price action is the a deadly trading sin. Being a serious trader who I has a good forex currency trading strategy, you cannot afford to turn your chart in to an art work, by adding in different strategies.

[rok]

Forex trading is a lucrative way of earning extra income online. It can replace your day job, make you live your dream life, have time for yourself, family and friends. While some traders make daily profit trading forex, others make great loses everyday. Not because they don't have idea about forex but because they overlook or don't consider some basic trading rules. This article explains 2 forex mistakes and how to avoid them to make profit.

[forexmaster]

मनुष्य के रूप में, हमारे जीव विज्ञान के लिए अधिक से अधिक हमें लगता है कि हमारे व्यापार के साथ हस्तक्षेप करने के लिए जाता है. यह एक जीत व्यापार या जीत ट्रेडों की एक श्रृंखला है, और एक खोने व्यापार या खोने ट्रेडों की श्रृंखला के बाद के बारे में अधिक जोखिम से हिचकते के बाद साबित हो गया है कि लोगों को कम जोखिम से हिचकते हो, भले ही वे टी. के लिए एक प्रभावी व्यापार रणनीति का अनुसरण कर रहे हैं यह है एक बड़ी गलती है, वहाँ कोई तार्किक कारण है एक जीत व्यापार या एक खोने व्यापार के बाद के बारे में अधिक जोखिम से हिचकते के बाद कम जोखिम से हिचकते हो, क्योंकि अपने पिछले व्यापार अपने अगले व्यापार के परिणाम को निर्धारित नहीं करता है. व्यापारी ट्रेडों जीतने के बाद अपने जोखिम राशि शाफ़्ट के लिए करते हैं, क्योंकि वे खुशी और अधिक विश्वास लग रहा है और यह इन भावनाओं है कि जल्द ही उन्हें उनके हाल ही में लाभ के सभी वापस देने के लिए, और शायद अधिक का नेतृत्व करेंगे.
सभी अपनी जीत वापस दे बंद करो

मुझे यकीन है कि आप बाजार में एक अच्छी जीत लकीर का अनुभव है, और आप उत्तेजित हो रहे थे कि आपके खाते से बढ़ रहा था. तो, शायद तेजी की तुलना में आपको लगता है कि पैसा बनाया, वह चला गया था, और शायद और भी ज्यादा. आप उलझन में है, गुस्सा, और निराश महसूस कर छोड़ दिया गया. फिर स्वयं संदेह नहीं है, आत्म - आलोचना, और आप की तरह लग सकता है बस में कटौती कर रहे हैं एक व्यापारी बनना बाहर नहीं. इस ध्वनि परिचित?

[wasimanjum]

this is also a good post that in forex how many mistakes and sins which a person can make so i am a new user and you tell you k which mistake can trader can do during the tradin is ma agr apko income ashi a re hai to apko chahye k is k baray ma purashan na hu or na hi ap lalch kray k ap na sray dollar aj hi kma lainay hai

[muna1982]

very long article to get with in short time. i think it is very useful to follow the idea that provided here. every advice and idea is the way to make the forex trading more perfect. all the topics given here like keeping patience, having good trading plan which is the main way to make profit, keeping the trade in control so that over bought or over sold condition will not arise which lead us to big loss and margin call. so i think we must control our trading to survive long.

[nikhildey]

I see some mistakes such as

1.Putting too much money and no business experience, no real experience in trading with many traders in the market are not being mean. If you're a small business and education to improve the skills and experience of dressing it up with a jump when you play NFL football game like never before jumping in and played like it. You will be killed!

2.No training experience - trading is a skill that must be learned. You need to read and study to get it. This is the best person to learn when you are sitting with a seasoned trader. It's my opinion, and it must be the case for me. I will have to pay for the training you must have a great education because they do not have a lot of free internet. Either way, there is a price to be paid in your learning curve. It's time, effort, and practice takes time to learn.

3.False expectations - an experience that you will have a million dollars.
You have to prove yourself and learn how to make money in trading. You do not have a million dollars but it is only the first step to start your own business, from which it may take some time to be like that.

4. Stop loss is very tight (dying the death of a thousand cuts.) Trading price action of the flexible, which means that prices are up and down very quickly. Even if you have a good trade and your stop is too tight, you can dramatically reduce your win percentage. However, this can be permanent, depending on you that you and your strategy

5.Taking big stop loss - not only as a stop-loss injuries are very small, so a stop loss is too large. Choose the right one for the business and then adjust risk.

6.Not profit targets - if they're not going to get you where you do not know how. If you do not have a profit target and then quickly turn a losing trade into a winning trade can reverse trade.

7.Over trading - a long time, and I think a lot of what you are doing wrong in order to increase the chances of your time will be less.

Multiple locations 8.Opening-once if you have several open positions in your account to excessive size and have it for you may be the cause of the crash. Also, if you have a lot of work at the same time, the pairs are correlated, which means that if one trade against them all you can go against you in adding.

Leverage is a margin rules - is over and the need for a better understanding of the forex traders 9.Not the # 1 killer. When you get too far with a margin call. So get educated about margin calls and adjust accordingly.

10.Not having a trading plan - I'm really only in the business of trading Why can not jump without a plan. If you do not have a plan, you are planning to fail.

[mostafaaa39]

if you don�t have the money to lose, it�s really that simple. You can lose money in trading, many beginners seem to forget or ignore this fact. So, you should not be trading with money that causes you to treat every trade like it�s life or death, you really should almost not care at all if you lose on one trade, because ONE trade DOES NOT define you as a trader. Your success as a trader is th

[saqib160]

waheo good all post is so good ma ap ki in post sa kafi impressed huwa ho in post sa bohat
sa new knowledge mila ha muje forex ka barye ma.

[fren_ane]

Your article is very nice and good for a newbie trader to learn many knowledge about forex. If we talk about mistakes in forex activity, we know that the emotion would give effect to our trading system. But if we could control it, I think the way is going to open for us to practice the discipline when we use our system.

[joker7diaa]

It's a very good thing to always review every trade, lost or profit. What we seek is to identify the strengths and weaknesses underlying the decisions to trade them. Truly, not all your good trades had the perfect setup, neither did all your bad trades had faulty entry. Therefore the review must not be biased. You'll probably have better insights into trading your strategy better.

[rubel]

The patches use artwork that is related to the area of study and discipline mastered by the scout. The patches are collected and sewn on a sash that is worn across one shoulder, when in uniform. There were originally 14 merit badges, but now there are 126 to be awarded. They have become collectible over the past 100 years and have always been embroidered in various amounts of detail. The cloth is raised by the embroidering process and produces a sculpted feel that will last longer with much better appearance than a simple painted decal. They are not easy to achieve, so the badge is an enduring emblem of the lessons learned in the scouting craft.

[Jubel300]

Learn to read the conditions of the forex battle field,great generals of the past would spend years learning battlefield tactics,luckily we can achieve this in a copuple of month.

[dennyandre]

profit or loss in forex trading business, we also own that will bear that case, Believe yourself. Do not be confused. If lost so lost, we will evaluate themselves why so. And do not forget that win should also be evaluated.So to find their own trading styles ranging from simple indicators, timing, sense, location of sale, to the currency pair that we enjoy. Pick the most fresh, such as early morning or evening. That time where we can think clearly.

[sami2013]

There are many mistakes carried out by traders:
The first steps to successful trading, do not begin to know the technical indicators of experience in economic events but the accuracy of the rolling himself and to his commitment to the goals set by him.
Login to translaction without specifying the level of profit-taking or determine the price of the loss.
Open more than one translation endangers account, multiple transactions requires experience and warned, we do not deny that possibility, but that requires work in accordance with the strategies and specific measurements.

[rameez]

It's a very good thing to always review every trade, lost or profit. What we seek is to identify the strengths and weaknesses underlying the decisions to trade them. Truly, not all your good trades had the perfect setup, neither did all your bad trades had faulty entry. Therefore the review must not be biased. You'll probably have better insights into trading your strategy better......

[Razor1911]

Mistakes are very common in trading. What important is when you will find your mistakes , better than neglecting them, you should try to improve as much as you can so that when you will face the same situation again. You don't get caught up with the same mistakes again. In this way you will be making continuous progress in improving yourself.

[genjer fx]

thank you very much for your post friend, I believe this is a very good article, I really like this because it can change our paradigm about forex, once again thank you

[reham]

I think a mistake in trading there are two kinds, first of ourselves both from the outside. losses are not necessarily wrong. The only mistake you make in forex is to follow your plan. I think as long as you follow your plan, you are right, if you do not you wrong. for that we must remain focused in the analysis. because I think a lot of traders make the mistake of carelessness yourself.

[usmanraza]

nice post i like all post sub ki post bohat achi ha is parh kar knowledge ma bohat azfea huwa ha aur
forex ka barye ma bohat kuch new jaynane ko mila ha i like u sub ki post bohat achi ha. new
mamber ko in post sa kafi kuch sekhne ko mile gaya

[oreoluwa]

alright thanks very much for your time taken to give this vital information on how to be a very profitable forex trader and i know this information will surely help go a very long way and i will like to advise all traders to make use of the money management

[dewik79]

Mistakes are very common in trading. What important is when you will find your mistakes , better than neglecting them, you should try to improve as much as you can so that when you will face the same situation again. You don't get caught up with the same mistakes again. In this way you will be making continuous progress in improving yourself.

It is normal that we made ​​a mistake that was not intentional. Traders are good and responsive, will attempt to complete the error as soon as possible. We did not escape from a variety of errors, but we must have the intention and real action to change everything for the better.

[jawaid123]

forex main galte karna ghuna hai ye to sach hai ..es main galte ke ki gunjaish nahe..aagar aap nay galte to aap aapny noksan k khud zemydar hongy ..forex kya kese jaga bhe aap galte karty hain to aap khud aapni galte ke zimydar hoty hain ...or galte karny ke soratmain noksan he hota hia

[otang]

alright thanks very much for your time taken to give this vital information on how to be a very profitable forex trader and i know this information will surely help go a very long way and i will like to advise all traders to make use of the money management
interesting that you say about into a highly profitable forex trader and I know this information will certainly help go a very long way and i would like to advise all traders to take advantage of money management actually the main thing being a trader is serious and has the management of field everything

[tatbirt1264]

your certainlly right

[shamim1611]

major problem for many traders is greed. Now none of us like to think of ourselves as being greedy, but this is one of the seven deadly sins which is always lurking close at hand and which has a way of creeping up on us when we're not looking. On many occasions successful traders find themselves with a winning run of trades, earning perhaps $500 or $1,000 a day, and think to themselves that, if they can earn this sort of money day in and day out, surely it must be possible to earn $750 or $1,500 a day. Well, there's only one way to find out and that's to push themselves a little by relaxing their trading rules to open up a few more trades - just this once.

[mcceducation]

i can say, This is why no matter what you do, you must analyzed your mistakes so that you can learn and also earn from those in you future trading so Its not bad to make mistakes in your trading.. Everybody did this. even expert traders made huge mistakes in their trading. But doing the same mistake again and not learning anything from your mistakes is the bad thing. so many thanks for the share.

[rosyadfx]

Do you ever enter another trade immediately after a winner closes out, and then later realize you sort of just jumped into the market without your edge or strategy being present?

yup.. i ever do that, and i know that is big mistake that i ever done.. i am get loss and MC after in my first trading i got profit. Over confidence are the big mistake that i ever done..

[usmanraza]

nice artical bohat achi posts ki ha sub na kafi achi batye batyei ha ap in post ma is sa forex ma bohat kuch
new knowledge hasal huwa ha muje bohat kuch sekhne ko mila ha i like its

[dian safitri]

I think the mistakes in the forex is that forex trading is considered as the ultimate goal in seeking profit maximization, but I think her main goal is to have a consistent and sustainable profit in the sense continuously for a long time. besides many who think that by simply relying on technical analysis in trading. when in fact it was not successful forex trading due to the lack of control bad qualities within the individual himself. forex can also mean gambling if we only rely on trading with instincts or feelings to get as much money by way of interest received.

[The Blessed]

The way or the spirit by which we operate in trading forex matters. That is why I also believe in taking your trading experience as simple as possible. Don't be greedy for profit and you will see the profits coming your way. Don't be afraid of loss by not capitalising on it, then your loss will be minimal. Monitor your trader and don't mind closing trades that are going against you. This is business, so treat it as such.

[chinku]

with position just one When i outlined of which transforming into a practitioner with anything is usually the obvious way to get good at the item pot earn cash on the item very well the best in addition to useful strategy to become an experienced in the field of fx.

[suhermanto]

an enormous mistake traders whether or not traders or traders who have long wrestled along with the world is inseparable due to emotional trading and trading management are applied. whereas this is often still plenty we met a trader who barely grasp in regards to the world primarily in forex trading, simply starting to actually explore the science on your forex when the claim itself just like a reliable and profitable trader since it has started to actually feel a few times profits when the market entry

---------- Post added at 12:14 PM ---------- Previous post was at 11:39 AM ----------

a giant mistake traders whether or not traders or traders who have long wrestled along with the world is inseparable due to emotional trading and trading management are applied. whereas this can be still plenty we met a trader who simply understand concerning the world primarily in forex trading, just starting to firmly explore the science on your forex when the claim itself just like a reliable and profitable trader as a result of it really has started to firmly feel a few times profits when the market entry

[rokib]

I read this thread and it is very good discussion for forex trader and also new trader. I think mistake is common in forex trading but try to recover mistake and try to this mistake not occur in future again. I hope if have more experience about forex trading easy to recover mistakes and success is easy for any trader.

[vaibhav thakur]

hey don't you think its too difficult to read such a big article better you are not coping all this stuff and kept posting, if you are doing better dont do this again, and if you have really written its an suggestion to talk directly about the point, not to write stories this will be good for all.

[haryadi88]

I am believe that even experience trader must have mistake on their analysis and their strategy. But I am also believe that they make evalution on their mistake to make a better strategy and analysis

[abbey ak]

alright thanks very much for your time taken to give out this vital information on how to be a profitable forex trader and i know this will really go a very long way in the forex market based on my understanding

[hariz]

What is Forex? It is an easy and convenient way to gain money. Presently, due to widespread development of Internet technologies and presence of a large number of brokerage companies, online Forex trading is accessible for everyone. You can stay at home, in the office or in a caf� and carry out transactions at Forex via your PC or mobile phone. All you need is just access to Internet and registration of a trading account with a brokerage company. Currency trading is a reliable way to earn money where the amount of earning depends solely on you.

[usmanraza]

good post all frd ma apsub ki post ko study kayea ha muje ap sub kipost bohat achi lagi ha forex ma humari shoti si
mistake waja sa humko bohat bara loos ho sakta ha forex ma mistake par cuntrol karna chayea warna in choti choti
mistake ki waja sa hum forex ma loos he kayte rahe gaye

[delowar]

I will discuss some common mistake's. So that we can avoid these mistakes.
� Do not use plana trading.
� Money management of the web. Or, if the idea of one's own.
� The on tredagulo Los Angeles is also extended its stop loss.

[sracer86]

A forex trader makes many mistakes during trading until he becomes a professional and expert trader.Sometimes he doesn't use stop loss,sometimes use a bad strategy for trading.Sometimes he becomes greedy after making some continuous profit and try to over trade.These are very common in forex market.If a trader avoids these he can avoid loss most of the times and also can make some good profit.

[usmanraza]

good frd sub ki post bohat achi ha i like all post mistake ko cuntrol karne ka lsye sub ki post best ha i like is
ma ap ki bateo ko zaroro follow karo gaya ma apni mistake ko cuntrol karne ki ksuesh karo gaya

[Zeko]

the biggest sin in forex is that we trade against the trend and with not money management, that this is the biggest mistake one can do.
he think that he can take the correction but in fact he can't do that every time because some times there will be no correction

[numanpsc11]

I think Forex trading is very profitable just after practice on meta trader can not understand the forms correctly so that the candle does not have the confidence but if it can master the price action then u huge profit in Forex business.

[4daniel]

great information. Besides, another one is- 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

[mediafxx]

the biggest sin in forex is that we trade against the trend and with not money management, that this is the biggest mistake one can do.
he think that he can take the correction but in fact he can't do that every time because some times there will be no correction

forex trading is very high risk in capital and management knowledge Deal of money can put a bit of a risk analysis and margin trading plan and the use of power knowledge and control may, depending on knowledge risk management plan format Good profit

[prityzinta]

une partie de la que j'ai discut� est sp�cialis�e dans quelque chose, qui est le meilleur moyen de gagner de l'argent, pour le best de la casserole est la fa�on la plus efficace et efficiente Master plus � bevome un expert dans le domaine du forex

[ahmad786]

in my opinion do not have a trading system is a major mistake. if you do not have a trading system meaning you will likely be trading based approach is said fall apart . have a trading system means you have the guidelines and objectives and how to achieve a clear goal in her trading.

[rafi1990]

I think thse are the mistakes and sins in forex.try to trade without having business knowledge ,Without any planning ,having greed ,try to more and more profit , disobeying businessp rules ,seem trading as gambling and so on.if you make these mistakes and sin you may not succeed in trading.

[oreoluwa]

well there is no way we can not lose in the forex market but we just have to learn how to trade and always be at the positive side of the market and based on my understand i think demo account is the best place to make correction s

[ishvara]

huge and made a very large description about forex lose and sin.when we expect huge amount profit in trade then we use huge risk in trade.And for such a sin traders lose their money and leave forex forever.

Yes always taking a huge risks in forex exchnage trading business is a mistakes that i made many times, it is a psychological mistake caused by greed. I want more money so it makes me to take bad risks.

[otang]

the biggest sin in forex is that we trade against the trend and with not money management, that this is the biggest mistake one can do.
he think that he can take the correction but in fact he can't do that every time because some times there will be no correction

i agree with you that that we are trading against the trend and with the management of money, that was the biggest mistake that can be done. He thinks that he can take a correction remained consistent in fulfilling their trading is important we must sustain to become a successful trader and therefore we should keep our mental and physical side when trading will implement

[mediafxx]

i agree with you that that we are trading against the trend and with the management of money, that was the biggest mistake that can be done. He thinks that he can take a correction remained consistent in fulfilling their trading is important we must sustain to become a successful trader and therefore we should keep our mental and physical side when trading will implement

the management news trading plan of money appropriate forex trading is use with discipline market range for each pair influenced by should experience analyse of forex transactions the fundamental strategy

[dedi irawanto]

we will understand that we have a trading account is very valuable indeed, when we experience a loss, as a trader and therefore we should understand well that the forex business is a matter of our ability to accept the risks. therefore we should never ignore the trade with your trading account.

[safafx]

I want more money so it makes me to take bad risks.
yea.. mod. . your problem like that was i do last week.. actually if not greedy, i can withdraw today.. but its my mistake, i predicted that EU will down after up high pips.. it make me MC.. greedy is my big mistake that i will try to erase it from my hind.. :)

[sonali]

we have a dealing consideration is very useful indeed, when we encounter a reduction, as a investor and therefore we should comprehend well that the currency trading company is a issue of our capability to take the threats. therefore we should never neglect the company with your dealing consideration.

[norix]

i agree with you that that we are trading against the trend and with the management of money, that was the biggest mistake that can be done. He thinks that he can take a correction remained consistent in fulfilling their trading is important we must sustain to become a successful trader and therefore we should keep our mental and physical side when trading will implement

very clear that a failure to use existing trends without a study that there is no continuity
errors that lead to a loss as long as we can hit us when the transaction using the good of the signals that have been there and we should not be doing naked trading

[Ahmed Farag]

yes we increase the risk after losing some trades and this is good because we want to recover the loss . if we reduce the loss we will not recover any loss we will wait too much and may not recover it

[shint]

indeed often a matter of accuracy errors beginners, because ane still remember when you first start taking fair trading are often wrong and often grab a hose long or short position by accident ..

[bachanti]

as i know, all trader have and ever make mistake that make their account broke or face Margin call, yup all traders ever feel it. And now the important thing is From that mistake, we can learn and never do the same mistake on our trading.

[biyen]

the biggest mistake of a trader is to repeat the mistakes that have been done before. Greatest sin a forex trader is breaking boundaries and rules that have been made ​​in the form of a trading plan. Both are worst behavior is often done by the trader, not just beginners, but also by traders who already has experience trading a long but never an evaluation of the results of trading does. Seems so simple, but it's hard to run

[gretongan]

i believe mistake is common in forex trading other then attempt to recover mistake and attempt to this mistake not happen in future once more. i hope if have additional expertise concerning forex trading very easy to recover mistakes and success is simple for any trader. ;)

[usmanraza]

nice post ap sub ki post bohat achi lagi ha ap na mistkae ka barye ma bari achi trah deatil sa bayan kayea ha in
ma sa bohat si mistake ha jo hum roz trade ma krte ha jis ki waja sa hum ko loos uthyena parta ha.

[messimarkus]

I think forex is not a sin, because there is that we are trading forex, unless we treat forex as gambling, then sooner or later we would have run out of money in the forex world swallow

[shakil7142]

If you mistakes and sins do frequently during forex trading,your trade will be so much boring.O

---------- Post added at 10:20 PM ---------- Previous post was at 10:18 PM ----------

If you know any mistake can be dangerous in forex trading.If you mistakes and sins frequently during forex trading,you feel boring so much once a time.

[muna1982]

forex is a risky business place and we have to be cautious every time. here the decision taking is every thing. a good decision is the way of making lot of money and wrong one will cause our loss. so we have to know all the mistakes we can make and how to minimize them. we never be 100% right in forex because it is very much uncertain. we need to wait when a trade goes loss and in the near future it will become profitable. we have to try to increase win ratio than to loss.

[champy]

the biggest mistake of a trader is to repeat the mistakes that have been done before. Greatest sin a forex trader is breaking boundaries and rules that have been made ​​in the form of a trading plan. Both are worst behavior is often done by the trader, not just beginners, but also by traders who already has experience trading a long but never an evaluation of the results of trading does. Seems so simple, but it's hard to run

this one is my biggest mistake whic i am doing some times and i am breaking my rules sometimes every i can see that there is not good movements in the market and i am then trying to open the trade in that condition.

[worldfx]

Great information. Besides, another one is- 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..Thank you.

[umair222]

Do not have a dealing plan is a major error. If you do not have a dealing plan, significance you will likely be dealing based strategy is said to fall apart. have a dealing plan means you have the recommendations and objectives 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. In other terms, you are definitely on monitor to accomplish your objectives.

[metic1]

I think if we made ​​a mistake in forex trading is not a sin, but when we make mistakes in others and to God, then it is a sin, it's just that when we always make a mistake in this trade, we will receive the reward of a loss, not be equated with a trade error on our mistakes on others.

[ahmedelsanhoury]

In order for you to stop sabotaging yourself in the markets, you must learn to be patient. One thing that I can personally share with you is that if you DO learn to trade patiently and ONLY enter the market when your trading edge is present, you will be unlikely to have large strings of losing trades. Trading like a sniper will naturally eliminate the potential to lose a lot of trades in a row, which will in-turn eliminate a lot of the potential for you to become too risk averse as most traders do when they lose a lot of trades in a row. Traders who lose a lot of consecutive trades typically do so because they are not following their trading plan and they are jumping in and out of the market without waiting for their edge to appear. That�s not to say that you can�t have large strings of losers as long as you are following your trading edge with discipline, because you can, but it�s far less likely to occur than if you aren�t following your plan and are trading off emotion.
@>-

[kum]

dizziness also yes if you want to be trader that produces ...
I actually do not like the dizzy dizzy ...
but since I already fell in love with forex, whatever will I do for the sake of
a profit in forex

[bombastic]

I often make the mistake of attitude can not wait for the price movement toward the take profit and always choose to wait with no action to address the loss. but I realized that as a beginner trader, of course, I have not had much experience.

[mediafxx]

I often make the mistake of attitude can not wait for the price movement toward the take profit and always choose to wait with no action to address the loss. but I realized that as a beginner trader, of course, I have not had much experience.

analysis of trading experience saw trading trading plan using money management needs to consider the risk of error in the analysis of the trading plan must always be calculated with the Forex Trading System and Trading appropriate analysis of capital and the risks that could occur need experience

[oreoluwa]

as for me i know most traders are very confidence of there-self without knowing that nothing is guaranty in the forex market so i will advise all traders to make use of the stop lose in the market

[mharsuplian]

not know the terrain so well, and therefore much recommended for beginners to want to recognize the terrain beforehand in order to know where and at what is best to do it, so if you go back to this forex beginner should recognize the terrain with the first practice on a demo account so

---------- Post added 01-23-2013 at 04:19 PM ---------- Previous post was 01-22-2013 at 06:41 PM ----------

generally some new traders to come in to the open position in the absence of adequate knowledge .. it is still safe safe only when using a demo account, but dangerous just a few weeks was able to jump to the real account .. after a mc then feel the bitterness of forex .. just do not give up ya wrote the forex ...

[zahra]

Not having a trading system does not have trading system is the first fatal mistake. If you do not have a trading system, then you will tend to trade based approach arguably plus disheveled mess How could you expect the success of the method disheveled? Instead, have a trading system means you have the guidelines and objectives and a clear way of achieving goals in areas of trading. Having a trading system increases the chances for success, because you have guidelines for entry, exit market or standing aside. In other words, you are definitely on track to achieve your goals.

[dan.blanchot]

as for me i know most traders are very confidence of there-self without knowing that nothing is guaranty in the forex market so i will advise all traders to make use of the stop lose in the market


Have you heard that some of the traders use mental stop loss rather than the one setup in the trading account. It means that if one has decided that stop loss should be 30pips on a single trade, then once price has move against his order for 30pips, he'll manually close that particular order. Of course, this is usually done by experience traders.

[dejaplux]

I think that forex trading is a very real business there are several reasons that make me a tape trading forex is a business that is very promising to earn money quickly and many but all of it must be backed up by a factor of a kilo and a very good understanding of the forex trading not everyone can trade forex with the exception of those who wish to study hard about trading forex materials

[samsuddin.bepari]

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

[youngfx]

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 today�s 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 else�s. If you find you are losing money in the markets it is not your broker�s 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, it�s 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 won�t feel any need to correct your weaknesses if you don�t believe you have any. So, a big reason many traders fail to make money is because they won�t 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 don�t 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, it�s not going to work out in your favor EVERY time, and you don�t 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 DON�T KNOW if it will or not.

[pavais]

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

[eng.adham]

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 .

[kum]

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

[youngfx]

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 na�ve 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

[Subramaniam]

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

[rokib]

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.

[cool111]

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.

[youngfx]

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

[youngfx]

forex mistakes that kilss day trader



There are several mistakes which are very common amongst struggling traders. By knowing what these mistakes are and taking a more suitable course of action, a trader can greatly increase his/her chances of success in the forex market.

Currency trading provides ample opportunities to make money. High amounts of leverage, 24 hour trading, and seemingly endless volatility are all characteristic of the forex market. These features, however, also carry significant risks. By not adequately understanding common mistakes, a trader puts himself/herself at a grave disadvantage.

1) Risking Too Much Per Trade

Risking too much on individual trades will bring a trader to ruin quicker than any other mistake. There is no guarantee a given trade will work out, as losing trades are a frequent occurrence amongst even the best traders. To combat this, risk must be minimized on each trade to increase a trader's chance of longevity and long-term profitability. Successful currency trading is the result of steady gains, which will undoubtedly include a combination of both losses and profits. However, if the losing trades are too large, the profitable ones will not be able to compensate for the equity drawdown. With this in mind, risk should be limited to less than 1% of trading capital per trade.

As the retail forex market has expanded over the past several years, so too have the types of accounts that traders can choose from. Even participants with small amounts of capital can find trading account types which allow for strict risk management.

Micro trading accounts allow a trader to trade micro lots, which amount to approximately $0.10 per pip movement. When compared to mini (approximately $1 per pip movement) and standard (approximately $10 per pip movement) accounts, micro accounts allow for amazing versatility in controlling risk.

The risk on a trade is the difference between the entry price, and where the stop loss is placed. If a long position is taken in the EUR/USD at 1.4050 and the stop is placed at 1.4000, it equates to a risk of 50 pips. In a standard account this would represent a $500 risk. Abiding by the “1% rule,” that trader should have at least $50,000 of trading capital in his/her account. If the trader has a mini account, however, the same trade represents $50 in risk, requiring $5,000 in suggested trading capital. In a micro account, lastly, 50 pips represent a risk of $5, necessitating only $500 of suggested trading capital.

2) Betting on News and Trading in the Aftermath

It may be tempting to take a position right before or right after a news announcement in hopes of grabbing a quick profit in the ensuing chaos, but this amounts to gambling, not trading. The multi-directional volatility that usually accompanies news announcements can stop a trader out at a loss even if he/she ends up being right on the eventual final move.

As big news releases hit the market, currency pairs jump and dive in response. The quick, massive moves may appear to be easy money, but do not be fooled. The lack of liquidity in such moments, accompanied by the inability to get filled at the expected price, makes trading these moves in real time much more difficult than it may appear. Because breaking news usually triggers stops in a wide range due to the reduced liquidity and general lack of direction, trading without a stop in such cases is ill advised. Such an approach can leave market participants exposed to massive losses. Even if a trader uses stops in the vicinity of the prevailing market price, it is also likely to result in a loss due to the wild price swings.

Therefore, it is best to wait for the news to be absorbed by the market, the direction to become more clearly defined, and the liquidity to return before entering a position. Make no mistake, there will be plenty of remaining profit to be had after the “weak hands” have been cleared out.

3) Averaging Down Losing Positions

When a trade is losing money, a common mistake is to keep adding to it. Adding to the position “averages” the price of price of the transactions, lowering the “breakeven point” in the process. Applying the “averaging down” method to day trading is a very dangerous endeavour, as the time frame is extremely limited. Intraday currency trends can be sustained much longer than anticipated, and losses will more than likely need to be taken at some point, but now on a larger position.

Forex day traders are far better off managing their position by setting exact entry and exit criteria for their position. If the stop is hit, exit. If the profit target is hit, exit. By averaging down, the entire trading plan is thrown out the window, as the trader is now exposing himself/herself to a greater risk than was initially planned for.

4) Not Having a Trading Plan

When a currency trader does not have a plan, mistakes are much easier to make, making losses a much more common occurrence. A trading plan involves creating precise entry, exit, and money management criteria, which will allow the trader to control risk while hopefully extracting a profit over the long run.

A methodical and detailed plan will give the trader a step-by-step course of action for all market scenarios. Such plans should lay out how and why trades are entered, how and why they will be exited, and the associated risk/trade management criteria.

Psychology issues such are fear and greed are minimized if a trader has a concrete system to follow. Trading (especially currency trading) takes discipline, and such discipline is exemplified by creating and then applying a detailed set of rules for engaging in the markets.

---------- Post added at 11:20 AM ---------- Previous post was at 11:11 AM ----------

Get rich quick mentality

Random decision-making

Using too much leverage

Not using a stop loss

Trading on emotion

No discipline

No money management

Not knowing your market

Not monitoring your positions

Trading without a strategy

[liso]

one of the sin we have in the forex market is to make sure that i will trade all well and make sure that i am making a lot of money from the market that way we will all be able to make sure that we have traded quite enough .

[Timessy]

Woahh..... those are a great articles up and down there, i really appreciate them......... I believe the major mistake traders use to make is OVER-TRADING and its has been making them run at a big loss..

[Rizwan]

Forex main just few mistakes hoti hain jo loss krwati hain isi un main sab say bari waja trade sekhy baghair krna us kay baad entry exit levels ka pata na hona .market mein her waqt enter rehna bhe aik mistake hai

[shint]

if we so easily give up when faced with failure, because of our own mistakes that undermine this forex business, it is actually our forex world less fit, because it's shadow for loss and failure will always be there, so it's self mentally for all sorts of risks facing very desirable.

[sheeba]

it is very good and informative for us.. thank you so much for posting such informative article, we beginners will take all these points in mind and when at forex will do more care of that not take this type of mistake and will control or emotions and the greed for more and more earning in less time. one mistake in my opinion is that here that people trade here with emotions.

[Discordance]

usually many of mistakes are deed by novice trader because they doesnt have enough experience so they are thinking that forex is field of money they trade like the hungry person eating in a plate so they blowing up

[runu]

Wow! What an article. You real score inscribed it so nicely and easily that anyone can believe what you are trying to say. This is one of the first articles that I get register in sub terminal twosome of weeks in this forum.

[sazad]

mental newbies usually not very good at executing transactions so often late doing so trasaksi koraksi market in a state we experience loss, what if we use sl were too small in number, this is my fault that the previous

[ken arok]

Of course all traders had made a mistake and got the loss even margin call. we can learn from mistakes, so you have to evaluate on a regular basis and know your mistakes. if you do not repeat the same mistake, you will be able to improve your analytical skills

[kor]

over 9trading in the market for -me it is not a sin to be making sure that you are getting enough out of trading all it takes is beeing the best in the market and making sure that you are trading o your level best in the market.

[aptx4869]

Woahh..... those are a great articles up and down there, i really appreciate them......... I believe the major mistake traders use to make is OVER-TRADING and its has been making them run at a big loss..

The biggest factor who usually happen when we are doing over trader are caused by over confident and it usually happen when we are greed or we are think we can gain more than we are predicted. I usually face that condition, and like you said, when it happen i usually getting high loss. So, avoid greed, avoid over trader, and keep our money management.

[muddassir]

मैं एक बिंदु में चर्चा है कि कुछ में एक विशेषज्ञ बनने के लिए सबसे अच्छा तरीका है मास्टर करने के लिए पैन में यह पैसा ही सबसे प्रभावी और कारगर रास्ता बनाने के लिए विदेशी मुद्रा के क्षेत्र में एक विशेषज्ञ bevome

[miyabi]

reflection of yourself
If my experience of loss and MC because my greed
it's my biggest mistake in doing this business.

[MotorBalap]

reflection of yourself
If my experience of loss and MC because my greed
it's my biggest mistake in doing this business.

yes, we will get some of loss or margin call because we so greedy to get profit, and we want to get huge of money in fast time. , thant is very dangerous for our fund. more better we allways small profit but consistenly

[mediafxx]

reflection of yourself
If my experience of loss and MC because my greed
it's my biggest mistake in doing this business.

mistake using the analysis of the main trend movements properly discipline using position and reduce system losses and run using money management from each analysis to identify security trading and capital management and it will a mistake trade with law in fail trading

[damado]

the bigger sin in doing the forex tradings is going against the trend specially when the market is correcting it self. we should always go with the trend so the most of the pips should be taken. always good pips will give good money.

[tokichi]

here so the importance of the experience that we've had a lot of experience and we will know the actual forex terrain like and be able to do trading with good gains

[Jack]

Many mistakes are we seen in this thread, one of the them is multiple trade open at one time is very risky method for trading and always it happened due to greed of mind. We can trade with one trade at one time to deduct the overload of expectation.

[Discordance]

Many mistakes are we seen in this thread, one of the them is multiple trade open at one time is very risky method for trading and always it happened due to greed of mind. We can trade with one trade at one time to deduct the overload of expectation.

i also just trade in one time in a trade and i think if i trade many of position it will decrease my balance and margin so i think better to cutlose rather than just waiting till the trend is change it is very dangerous

[rana100]

Wow! What an content. You really have published it so perfectly and quickly that anyone can know what you are trying to say. This is one of the best content that I have study in last few several weeks in this community.

[malkoumx]

Your word is 100 percent true, and I thank you for the time you spent in order to write this article, thank you, my friend.
Yes errors Forex is the same, that is repeated every time, and this high rate is due to the psychological impact on the forex trader, the psychological factor plays an important role in the decision-making task.
Sometimes emotions force us to make the wrong decision, but this is the nature of man, he could not get rid of the feelings or emotions or even humanity.

[mediafxx]

yes, we will get some of loss or margin call because we so greedy to get profit, and we want to get huge of money in fast time. , thant is very dangerous for our fund. more better we allways small profit but consistenly

the experience is to be able to push the analysis and trading strategies in a study that is set in accordance greedy to get fail with the trading strategy and management the capital management greedy to get fail and manage risk in trade

[fxeon]

Quote Originally Posted by MotorBalap View Post
yes, we will get some of loss or margin call because we so greedy to get profit, and we want to get huge of money in fast time. , thant is very dangerous for our fund. more better we allways small profit but consistenly
Learn from mistakes is good I took the time to learn, for several hours, then after that I make time to trade well. and for this I am quite comfortable with my learning style. so you should have time to yourself to learn, because it is very important.

[zulfikar fx]

I think if we made ​​a mistake in forex trading is not a sin, it is a mistake is reasonable, especially if the knowledge and experience we are still small, the faults could occur, without any fault, we never self introspection, so that makes us as an arrogant man, with the errors, we can correct themselves and improve the situation.

[aitzaz25]

Forex mistakes and sins are depend on customer as well as on traders that which method they are using for doing business negative or positive they all depend on the mans mind and nature how he do business in Forex

[jonyrhm]

So there you might have it. Armed using this information and facts, you must experience substantially far more at ease with getting a Currency trading investing robot. For more information you can test out some testimonials of your prime merchandise that happen to be held to the similar litmus examination. Reduce from the hoopla and find out which passed with flying hues.

[DBS]

the largest sin in forex is that several of us trade against the trend and with not cash management, the fact that is that the biggest mistake one are able to do.
he assume that he normally takes the correction other then the fact is he cant try this each time as a result of a few times there'll be no correction

[ludric]

So there you might have it. Armed using this information and facts, you must experience substantially far more at ease with getting a Currency trading investing robot. For more information you can test out some testimonials of your prime merchandise that happen to be held to the similar litmus examination. Reduce from the hoopla and find out which passed with flying hues.
For newbie in forex trading, we must always learning in forum .I always using demo account for learning forex trading. Using demo account it will help us to improve our skill in trading skill

[aksay]

if you want to succeed as a trader you should search first, and if a suitable system is to find a system that fits with us
then we should follow the rule of discipline in terms of the system do not get broken

[youngfx]

yap ..one must have a forex trading system to follow and trading plan ..and also nopt to forget to take a daily journal

[jatayufx]

Learn from mistakes is good I took the time to learn, for several hours, then after that I make time to trade well. and for this I am quite comfortable with my learning style. so you should have time to yourself to learn, because it is very important.

if have mistakes it will make trade better and experienced must learn forex trading using the forex market management conditions in the trade, risk management into account only after management and trade forex trading profits with a disciplined risk

[donj]

I think if we made ​​a mistake in forex trading is not a sin, it is a mistake is reasonable, especially if the knowledge and experience we are still small, the faults could occur, without any fault, we never self introspection, so that makes us as an arrogant man, with the errors, we can correct themselves and improve the situation.
In theForex market are some of the indicators and signals, even if we buy or sell a currency, is to see and understand the indicators, so that we can establish your goals and make effective strategies to succeed in the business and get good results.

[MotorBalap]

In theForex market are some of the indicators and signals, even if we buy or sell a currency, is to see and understand the indicators, so that we can establish your goals and make effective strategies to succeed in the business and get good results.

yes, when we use indicator for our trade, we must know about style and characteristic that indicator, beside that we must know deep about the indicator work. beside that we must have filtering indicator, so don't just use one of indicator only.

[mantok]

average novice trader sl defeated by their own, while the large trader only rarely do I hear them use sl, but they are huge capital so that they can make a big arrest, to wait for the price it back

[liezang]

every man must have faults, but living up to us whether we can learn a lot from those mistakes. a lot of the biggest mistakes done by a trader. most likely it is going in because they do not understand exactly what is forex.

[mediafxx]

In theForex market are some of the indicators and signals, even if we buy or sell a currency, is to see and understand the indicators, so that we can establish your goals and make effective strategies to succeed in the business and get good results.



trade manage capital, according to the analysis of the use of fair trade with trading plan analysis and fundamental analysis of market movement learning of risk and safety management system is obtained in the capital of capital under

[rosyadfx]

well as for me i think most mistakes most forex traders make is when they fail to take little profit which the market can offer then and they insist in making the higher number of pips this really make them lose there ginned profit and also blow off there account so i think the best way is to take the little profit we can get from

yea every traders ever make mistake, Trading is not easy; statistics show a 95% failure rate. If your doing well dont take your success for granted; always be on the lookout for ways to improve what you 're doing. so let change mistake to be profiable thing.

[ldkanish]

very useful for above articles and my suggestion is dont put above 1 lot,only you do mini lot size like 0.01 to 1 get good profit
so safe your investment.

[jasiminbd]

World Wrestling big mistake merchant merchant or merchant's old applies to transaction management and emotional transactions that. Forex trading entered the market yet met many of our merchants, began to think some gains for highly reliable and starting to explore the science of the claim itself, the foreign exchange to the profitability of the trader by knowing the world primarily.

[rokib]

I have small knowledge about this topic because i do not start my trading in forex. But i see forex trading have some mistake and that's way loss is occur but need to understand why this mistake and do not face same mistakes. So need more knowledge about this trading system for long time success.

[metic1]

I think, if we make a mistake in this trade, it is not a sin, but it is because of the lack of knowledge we have, sin occurs when we make mistakes in others, there is no sin in the trade, the error is still an error, and it we must improve so that we can trade run smoothly and make money.

[mark hansem]

we have to realize it had just want to change or fix the errors.
true if you've steady and confident new real key to your account so that no word surrender all finished eating.

[dareking]

bhai maine aapki post dekhi hai, aur aapne jo image attach kiya hai, wo bhi dekha hai, mere ko image dekh kar pinbar ke bare thoda sa pata chala hai, lekin mere ko candlestick mein bahut problem aati hai, main candlestick ko achchi tarah se sikhna chahta hoon.:)

[adnan10076]

bhai maine aapki post dekhi hai, aur aapne jo image attach kiya hai, wo bhi dekha hai, mere ko image dekh kar pinbar ke bare thoda sa pata chala hai, lekin mere ko candlestick mein bahut problem aati hai, main candlestick ko achchi tarah se sikhna chahta hoon.:)

candle stick ko learn krna itna mushkil nhi hai bs ager aap full focus kr lain aur ziayda indicator use na kre to phie aap easy candle stick per control kr skte hai. ziayda strategy aur ziayda indicator use kr se her cheez per sahi control nhi rehta.

[sazol046]

I am total believe on that concept from my core hart that if you didn't any mistake then you will suffer lot same like sins and every single time you will despond for your previous mistake. Hopefully we all will more careful in the forex market while placed our order because there is no chance to mistake.

[naziakhan]

candle stick ko learn krna itna mushkil nhi hai bs ager aap full focus kr lain aur ziayda indicator use na kre to phie aap easy candle stick per control kr skte hai. ziayda strategy aur ziayda indicator use kr se her cheez per sahi control nhi rehta.

yes ,it is not a difficult task to learn about candlestick but if we are doing hard working and taking interest in it then soon we will be able to learn it completely and also we can apply it in our real trading .:)

[kum]

thank you for the man with-
I apparently including beginner traders. so hopefully the passion for self-improvement trader friend in this forum. greetings success.

[exnessali222]

you really have written it so nicely and easily that anyone can understan what you are traying to say . this is one of the best articles something is the best way to master it pan make mney at it well the most effective and effective way to become a specilist in forex trading

[fuzail]

Forex mistakes ,I not for clear idea in forex mistake.Because ,i do not understand for forex mistake.Mistakes means wrong,false,incorrect.My sample idea share now.Forex mistake means is forex wrong or incorrect the trading.

[bombastic]

My fault for this is about risk management, I always do forex trading by using a full lott, and no longer think about the risk factors. in fact I always try to take revenge when I suffered loss.

[wasimanjum]

there are some mistake which ican be done while doing the trading so i discuss withyou these mistake ,some time we cannot get much benifit from the trading and our money is going to a loser point and i smjhta hu that all my money is wasted and second thing is the greededness of a broker

[kum]

new traders typically begin seized properties greed for making money with forex business was so easy when we started to make a profit, but we should begin to realize if we feel as a novice trader who had entered the area greed.

[dodol]

agree, do not expect more from the rich trading forex newbies as if they will make themselves as likely to get a huge loss if the pursuit of wealth from trading, and the pursuit of wealth in forex trading as well be the biggest mistake new traders.

[malik]

Bohot hi achee thread hay infact, mujhy is thread main bohot kuch mila learn karny ko aur bohot saree asee cheezain milee hain jin ko pahly main apnee trading main observe kar chuka hoon aur bohot saree mistakes main repeat karta rah hoon jo main ba naheen karoon ga.

[naija]

Any newbie trader who starts trading with the mind of getting greedy will eventually regret it. Because even those who are considered as professional forex traders do not get greedy in their trading.

[msreza24]

Forex market, foreign exchange, commence a company, it's possible to definitely not do. Forex market to prevent a few popular mistakes. To find out more, make sure you talk about these info, you will definetly get in order to this currency exchange market.
Business day.

[gretongan]

we beginners is going to take each one of these points planned and the moment at forex can do additional care of the particular not take this kinds of mistake and can management or emotions and of course the greed for additional and additional earning in less time @>-

[Ahmed Asghar]

Truly, not all your good trades had the perfect setup, neither did all your bad trades had faulty entry. Therefore the review must not be biased. You'll probably have better insights into trading your strategy better.

[menciusforex]

when we are newbie we may earn one or two without too much thinking or strategy. but we trade more we lose more. becuase our habit or thoughts are wrong totally. every thing we do are wrong. we use our old experience to deal with forex. we should be trained to be different. then we have different view, it will help us indeed

[nanoni]

I feel that as a beginner trader.
Properties to be reasonable, but if you want the old normal forex world, certainly the three mistakes that we must destroy.

[konyeng]

every trader ofcourse have facing lost and mistake during their trade in this bussines so i think better we trade properly to make sure that there is no mistake anymore at a time from us because too many mistake will kill you

[kum]

is in need of calm and do not panic when you see the chart. I also never made ​​a mistake that should have hit him but mistakenly buy sell then I cut loss immediately to avoid big losses. always keep your emotions in either profit or loss

[hadidbd1]

In my attitude sort out not be inflicted with a trading logic is a major mix. If you sort out not be inflicted with a trading logic importance you will likely be trading based deal with is understood fall apart . Be inflicted with a trading logic earnings you be inflicted with the guidelines and objectives and how to realize a apparent goal in her trading.

[shahid1]

Try to avoid the mistakes during the trade. The mistakes are very harmful for the trader. No doubt Forex trading provides great opportunities to make the money for every trader. If you want to successful in the Forex trading then maintain discipline and enhance learning skill to know how to trade. The sufficient material regarding Forex is available on the internet.

[aksay]

I think we can all practice also includes keeping your own emotions so well, it would not be right, but by doing so slowly I think a long time will also be used to it really. If the techniques and strategies clearly this must be learned and practiced also in use, do not forget to learn good money management as well

[wasimanjum]

there are some mistake which a person can do in the trading of forex and these sins can lead him to him to the loss of money so one of the commone mistake is that many people says that forex is an easy business however the reality is more difficult it require proper learning to process know

[s.alam]

A Big Mistake Traders whether traders or traders who produce long wrestled with the the human race is inseparable from the emotional trading and trading management are practical. While this is still a assortment we met a trader who scarcely know concerning the the human race primarily in forex trading, and scarcely creation to explore the science of the forex subsequently the statement itself as a steadfast and profitable trader for the reason that it has happening to feel several epoch profits subsequently the souk entrance......!!!!!!

[hadidbd1]

The biggest sin in Forex is so as to we trade critical of the trend and with not money management, so as to this is the biggest confuse lone can get something done.He think so as to he can take the correction but in detail he can't get something done so as to each generation as more or less era nearby will be nix correction..

[nanoni]

was all right. moreover most of the wear lust.
not anticipated maximum loss should be set so as not to lose all our capital.

[shahid1]

In Forex trading avoid the mistakes to earn the profit. Other wise you will bear the lose. Gain the experience and enhance the knowledge from the available resource. Then invest the amount in the real account this this better.

[hadidbd1]

Splendid in rank. Besides, a further lone is How many traders approve of a mechanical Forex trading logic rancid the mess with a simulated track confirmation and expect it to get on to them money? The bulk of novice Forex traders fall pro this but of way, a simulation made in hindsight, knowing the finishing prices is straightforward - but trading not knowing them is the tricky part.

[ankurjpr94]

Very nice thread...!
Thumbs up..!:good:

[wasimanjum]

in forex and other business which is mostly done by the people of other countries you have to control mistakes in the forex and the mistake some sins in the forex will lead you have to lose all your mney in the trding in order to predict the forex markete too much actual factors is needed

[kum]

however, did not rule out an already seasoned traders will be exposed to loss. hence the wisdom of a trader is highly charged. if it is not possible, cutloss might be the best option

[cardinal]

in forex and other business which is mostly done by the people of other countries you have to control mistakes in the forex and the mistake some sins in the forex will lead you have to lose all your mney in the trding in order to predict the forex markete too much actual factors is needed
Well you can not get success from anything without having proper knowledge. To learn forex we have to invest our time first. If we can make the good use of our time we will be able to learn it properly.

[tumarnamkitha]

nice post ap sub ki post bohat achi lagi ha ap na mistkae ka barye ma bari achi trah deatil sa bayan kayea ha in
ma sa bohat si mistake ha jo hum roz trade ma krte ha jis ki waja sa hum ko loos uthyena parta ha...Thanks

[aksay]

why a lot of people who do not agree if it can make money forex, perhaps
they have to go straight in order to prove it. Yes, the spirit, unyielding.

[fxmoney]

Most of the time traders try to trade in the forex market without the stop loss it is one of the worse thing the traders do so if they avoid such mistakes then they can easily gain good profit from their trade so try to learn from the past mistakes.

[dodol]

weve really most difficult to control your emotions especially if we are in the wind, which normally would often Overtrading where it will lead us into a loss instead of profit where previously gathered for this would be lost due to a huge defeat

[perez]

to train or practice forex back to myself I prefer one to follow trading contests and demo acc
create a journal and a trading plan after it's self discipline to follow a trading plan so that we can minimize the error

[kabeer]

एक बहुत. मैं अपनी पूरी कहानी पढ़ें. और सामान आप विदेशी मुद्रा व्यापार के मनोविज्ञान के बारे में लिखा है, यह अच्छी तरह से मेरी हालत के साथ मेल खाता है. मैं कुछ गंभीर नुकसान का सामना करने के बाद इसी तरह की स्थिति के माध्यम से चला गया. मैं बहुत लाभ

[radzo]

it was true, mistakes in learning was natural because they have not mastered nicely and is certainly tried and tried.
It should be emphasized is trying to fix the mistakes so as not to repeat it again, and therefore an evaluation should be done

[ham]

man will be very prone to follow the lust for financial affairs so many people do anything to be able to get as much money as quickly as possible and it is often the case at the trader to profit within a short time

[erwin]

one that might be useful is that we need to find a mentor
so we have a guide

often people know forex from the outside
especially if the seller knows of advertising forex indicator
so he really was not ready mentally enter forex

[small dream]

in point one particular My spouse and i mentioned of which learning to be a consultant in some thing is usually the simplest way to get good at the item pan generate income at the item well the top along with useful means as a consultant in euro-scientific foreign exchange.

[shahid1]

In Forex trading the mistakes are become the trade very harmful. Trading has great opportunities to make some extra money from this business. To be a successful in forex trading it requires proper learning and practice. If you avoid the mistakes then you are able to earn the profit.

[jamatsibir]

I think we can all practice also includes keeping your own emotions so well, it would not be right, but by doing so slowly I think a long time will also be used to it really. If the techniques and strategies clearly this must be learned and practiced also in use, do not forget to learn good money management as well.,thank you.

[forexterminal]

i am agree with you what you said in the post some times people do these mistakes even 97% people in trading do these mistakes these are all harmful for traders.
Stop Sabotaging Your Forex Trading

Forex Traders have a tendency to sabotage their own efforts in the market, and most of them don�t even know they are doing it. The inherent paradox of trading is that the harder you try to make money or avoid losses, the more these things tend to elude you. This is something that you probably have noticed or felt via your own frustration in making money in the markets.

Do you ever enter another trade immediately after a winner closes out, and then later realize you sort of just jumped into the market without your edge or strategy being present?

Do you ever consciously risk more than you know you should on a trade, and then regret it as the trade immediately goes against you?

Do you ever stop trading for a while after hitting a few losing trades just because you think if you �wait it out� your bad streak will end?

As humans, our biology tends to interfere with our trading much more than we think. It has been proven that people become less risk averse after a winning trade or a series of winning trades, and more risk averse after a losing trade or series of losing trades, even if they are following an effective trading strategy to the T. This is a BIG mistake; there is no logical reason to become less risk averse after a winning trade or more risk averse after a losing trade, because your previous trade does not determine the outcome of your next trade. Traders tend to ratchet up their risk amount after winning trades because they feel euphoric and over-confident and it�s these emotions that will soon lead them to give back all of their recent gains, and probably more.
Stop giving back all your winnings

I�m sure you�ve experienced a nice winning streak in the market, and you were getting excited that your account was growing. Then, probably faster than you made that money, it was gone, and maybe even more. You were left feeling confused, angry, and frustrated. Then the self-doubt sneaks in, the self-criticism, and you might feel like you are just not cut out to be a trader. Does this sound familiar??

I can assure you this is actually �normal�, most traders go through a similar situation at some point in their careers. The reason it�s �normal� to give back your winnings to the market, is because we are actually biologically wired to do so.

� It�s a fact of human biology that we become less risk averse after a series of winning trades.*

� It�s a fact of human biology that we become more risk averse after a series of losing trades.*

� In reality, you aren�t any more likely to win after a winning trade or lose after a losing trade, assuming you are strictly following your trading edge / trading plan.

� If you are strictly following your trading edge and trading like a sniper, you are only going to decrease your profit factor by reducing risk after a losing trade, and you are only going to open yourself up to larger losses if you increase risk after a winner. Because you are NOT more likely to hit another winning trade just because your previous trade was a winner, nor are you more likely to hit a losing trade just because your previous trade was a loser. This is due to the random distribution of winners and losers that exists for any given trading method.

So, the reason you�ve given back a lot or all of your winnings in the market, is that it�s natural for us to feel more euphoric and over-confident after we make some money in the markets. We then tend to forget a little more about the risk on any given trade and focus more on trying to turn our recent winnings into even more; essentially this is greed getting the best of you. Similarly, when we hit a string of losers we tend to cut down our risk more than we should, or we become afraid to enter valid trade setups all together. This is also emotion getting the best of you; it has nothing to do with logic or reality, because in reality you are not more likely to lose on your next trade just because your last one was a loser.

I can�t even tell you how many emails I get from traders saying something like they �built their trading account up a decent amount and now are below their initial starting value�; almost every trader goes through this at some point. You have to decide if you are going to recognize that you are doing something wrong and try to fix it, or stop trading all together. We are all inherently flawed as traders, just because we are human, but we have the gift of a very powerful and highly-evolved brain that can overcome these flaws if we make a conscious effort to do so.
Stop second-guessing your trades

Top traders are always confident in any trade they take, because they know what their edge is, and they don�t trade unless it�s present.

Thus, top traders don�t second guess their trades, whether a trade results in a winner or loser, they fully accept the outcome before it happens and they don�t enter unless they�re confident that it�s a valid instance of their edge.

You never know �for sure� what is going to happen even though at times it can seem like you do. This fact alone accounts for most problems that traders face. It has been said that money management and trading psychology are the most important aspects of successful trading. This is true, but it�s also true that one�s trading method heavily influences their trading psychology, so you need to be sure you aren�t also sabotaging yourself by using confusing and overly-complicated trading systems. These trading methods can certainly cause you to second guess yourself, since you aren�t really sure how to enter or you have to line up 10 different indicators to find an entry signal.

Having a clear and clean trading strategy like price action will go a long to help you remain clear-headed and objective, and this will help to prevent you from committing the trading mistakes we discussed previously. We have to do everything within our power to avoid sabotaging our own trading efforts by giving into the emotion-laced temptations that we face in the markets. Trading with an uncomplicated yet highly effective trading strategy like price action will help us to put the odds in our favor.

[zindabazarcity]

I often make the mistake of attitude can not wait for the price movement toward the take profit and always choose to wait with no action to address the loss. but I realized that as a beginner trader, of course, I have not had much experience...good luck.

[mahabub27]

there are many mistake in Forex and i am a newbie in Forex and i learn that many Forex trader are always very greedy and they do not use money management tools for a good bakeup in forex.

[winboy007]

salam guys in my opinion I discussed that becoming a specialist in something is the best way to master it pan make money at it well the most effective and effective way to bevome a specialist in the field of forex thanks for the post take care and keep trading.

[keiko]

there are so many mistakes that we do in the forex market that we need to avoind but in order that we underline and analyse all we need need descipline and that is the only way to keep on going on and on without even having to stop.

[shint]

I still newbe crux is emotion and emotion education we also understand the science of forex is not the ambition to win i did not want to dissolve the sweet seduction of emotion because of the profit that led to mis Program

[frx4]

Surprise! The things a piece of text. That you experience developed the software for that reason correctly and additionally quite simply which usually just about anyone may well understand what you will are trying to tell you. This approach is about the top articles or reviews which i experience look at for go on little while in that forums.

[jdajjda785]

Certainly that there are many mistakes done by beginners during their trading in this business..And these mistakes are trading without enough experience or great strategies , also trying to earned a lot of the money within a short period . these mistakes will lead traders to certain losses !

[sehatx]

Certainly that there are many mistakes done by beginners during their trading in this business..And these mistakes are trading without enough experience or great strategies , also trying to earned a lot of the money within a short period . these mistakes will lead traders to certain losses !

beginners during their trading in this business these mistakes are trading without enough experience or good strategies, trading arrange and of course the use of power knowledge and management could, betting on knowledge risk management

[ham]

many errors that are often done by a novice trader. the biggest mistake is usually done to determine the number of lots that are too big. this is often done as a novice trader who wants to get great results while its small capital, this is called greed.

[new93]

We are human beings and not machine . It is the practical habit of every one to make mistake though unintentionally .Mistakes should not be treated as weak points rather than mistakes are building steps and we should try to rectify those mistakes in future to avoid losses.

[operamini7]

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. Thanks

[ahmeddd22]

The reason we tend to do things like risking more than we normally do after a few winning trades or dial-down our risk too much after a few losers, is mainly because it �feels� good. Most traders trade based far more on how they feel (emotion) than they do on logic and rationality. This is the reason why most traders lose money. The only way to avoid this self-sabotage in our trading is to have a thorough forex trading plan and follow our plan and trading strategy with discipline and patience.

[bestboyfx]

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 ....Thanks