Verry good advices dear friend
I thonk all traders mustn't forget these mistakes that had to be avoided
However it is not easy to work with them all
You need to be hardworker and train a lot
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Verry good advices dear friend
I thonk all traders mustn't forget these mistakes that had to be avoided
However it is not easy to work with them all
You need to be hardworker and train a lot
ap jab forex trading market may work kary gay to ap forex trading may work karna ho gay jis say ap forex trading k real account may bhi earning kar sakta ho or ap forex knowledge gain karta rahna ho gay jis say ap forex trading may good work kar sakta ho
if we often experience loss, then we must introspect, if there is something wrong with our trading system or with our knowledge. because we often get a trading loss due to the lack of knowledge that we have.
yes i think if we have positive views about our loss and leave our despair, we can surely got good experience from our loss. Only when we want to get up and learn it we can be more cautious when having same problem with our live account. We will have more decision to choose the right path based on our loss experience to avoid more loss.
1) Knowledge Deficiency – Most new FOREX traders don’t take the time to learn what drives currency rates (primarily fundamentals). When news or a statement is due out they must close out their positions and sit out the best trading opportunities. They are taught to only trade after the market calms down. So essentially they miss the whole move and then trade the random noise that follows a fundamental price move. Just think for a moment about technically trading the aftermath of a price move; there is no potential.
2) Overtrading - Trading often with tight stops and tiny profit targets will only make the broker rich. The desire to “just” make a few hundred dollars a day by locking in tiny profits whenever possible is a losing strategy.
3) Over leveraged - Leverage is a two way street. The brokers want you to use high leverage because that means more spread income because your position size determines the amount of spread income; the bigger the position the more spread income the broker earns.
4) Relying on Others – Real traders play a lone hand; they make their own decisions and don’t rely on others to make their trading decisions for them; there is no halfway; either trade for yourself or have someone else trade for you.
5) Stop Losses – Putting tight stop losses with retail brokers is a recipe for disaster. When you put on a trade commit to a reasonable stop loss limit that allows your trade a fair chance to develop.
6) Demo Accounts – Broker demo accounts are a shill game of sorts; they’re not as time sensitive as real accounts and therefore give the impression that time sensitive trading systems, such as short-term moving average crossovers can be consistently profitably traded; once you start dealing with real money reality is quick to set in.
7) Trading During Off Hours – Bank FX traders, option traders, and hedge funds have a huge advantage during off hours; they can push the currencies around when no volume is going through and the end game is new traders get fleeced trying to trade signals. There is only one signal during off hours – stay out.
8) Trading a Currency, Not a Pair – Being right about a currency is half a trade; success or failure depends upon being right about the second currency that makes up the pair.
9) No Trading Plan - Make money is not a trading plan. A trading plan is a blueprint for trading success; it spells out what you see your edge as being; if you don’t have an edge, you don’t have a plan, and likely you’ll wind up a statistic (part of the 95% of new traders that lose and quit).
10) Trading Against Prevailing Trend – There is a huge difference between buying cheaply on the way down and buying cheaply. What was a low price quickly becomes a high price when you’re trading against the trend.
yes we can surely got good experience from our loss, we must accept the loss and this loss only gives us experience and teaches us what not to do next time and how properly we should manage the shares. Every experience is necessary and it teaches us many things in forex so i think thats the reason people still trader after getting big losses.
i think we can not avoid losses in trading.
that we have to do is to do with good money management, and pay attention to any risks that we can get from the transaction that we do. if we can do that, then we can minimize the risk that we get in trading.
It's a mess that was the seminar must be in the Forex trader in the framework of the agreement, after having suffered a loss of position cards guarantee agreements back turned to them the value expected. However, a few examples to prove that seller no pain stop losses are often very limited.
You will find the dilemma that must be experienced in the trader in a clear, if she feels your bet reduction position passed to the price at which they were waiting. Although many of the cases confirms that happens zero cause damage-dealer bets a reduction can be very limited.