Mistakes to avoid for beginners / Inability to manage orders.

I anticipate a abecedarian aboriginal apprentice forex basics and again audience trading minimum 6 month, if trader achievement is acceptable again he go to absolute trading.

ok i agree with you statement if you are watching market then you do not need to set any instruction to the market about close the trade but when you are not watching the market then you can set take profit or stop loss

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Originally Posted by jab we met

ok i agree with you statement if you are watching market then you do not need to set any instruction to the market about close the trade but when you are not watching the market then you can set take profit or stop loss

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Setting and stop and target are not required only when you are out of your seat or not watching the market but they can save you from sharp moves that appear in market time to time and at such time closing your trade manually will need time and in that time your losses may grow unnecesarily

I also consent with the post, that the very bad and fruitless strategy is opening trade without taking time to watching the chart clearly, what it expresses, and what is the flow of market movement. to avoid the loss or falling in trading the simply way to use STOP LOSS in each trade.

Order management is important so that we can protect our account balance as well as our profit. This include good money management and risk management. Most traders fail to emphasis on this matters.

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Originally Posted by hpanoo

sometimes traders tend to open several positions simultaneously after looking at price movements. but sometimes this does not work well and sometimes it is risky when your capital is low. then they will be unable to control their trades and finally face losses. this is a big mistake done by newbies.

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Yes, I think that is also a mistake which most of the beginners tend to do because they just don't know what may happen to the market.

the major mistake that the new traders are making
is the limted trading that they make on the demo account

Well if you are not able to manage your trades or orders just dont place them or at least think of every scenario and set stop loss and targets in your trades and buy or sell stop in your orders.

I agree we need to trade like professionals and it is a professional approach that you always set your target profit and target loss while executing any trade.

For me, not do I never trading without the use of stop loss ... Stop loss helps to overcome the fear of loss .. And maintains a capital loss of the whole .. It defines a certain percentage in case of loss and is safe and more comfortable.