Mistakes to avoid for beginners / Lack of Discipline.

as this industry is more complex so everyone should adhere to self-discipline and control with their own dealing technique.No one should not quit their technique by dropping in to worry and avarice exclusively for a beginner.

Yes you are right there are many thread we find saying that lack of discipline destroy money. Discipline may called as some rules of yourself. Such as you decide that you will take profit maximum 10% and will have loss maximum 10%, it may called discipline. But sometimes you fall in vein for not abide by the rules. Besides this you set up your own trading system, such as where to enter, which indicators you will follow, these may called discipline but sometimes you avoid the discipline and be looser. The thread opener's opinions really acceptable.

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Originally Posted by deep thought

A trading plan is only of value if you have the patience and discipline to follow it. Follow his trading plan is difficult, it is undeniable, but it is a prerequisite to succeed in trading on the currency. While exchange rates change, you will be taken quickly in the market and you may, at any time to lose your control and make irrational decisions that do not match your original trading plan. For example, if rates move upwards, exceeding your original order take-profit, you will be tempted to hold your position any longer to benefit from rising. The opposite pattern works in the case of a rate cut. However, is that such scenarios make sense? Indeed, if you took the time before entering the market, to establish levels of loss and take-profit, how market conditions have also come to change abruptly to negate your original goals ? Are you sure you not rather act out of emotion, believing collect a uptrend or a downtrend that does not really exist?

That's why a trading plan is essential: it allows you not to get overwhelmed by your emotions, especially during periods of high volatility.

Of course, a trading plan may be amended, depending, for example, your overall objectives. However, do not change your trading plan in action.

Finally, it should be understood that the best trading plan is sometimes ineffective in times of high volatility. Sometimes it's better to temporarily withdraw from that market to flog a dead horse.

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Yes I am agree with you that a plan makes you a perfect if you finally fulfill it. A plan helps us to become a successful person from trading & helps also to control our emotion. If we do our work in serious mind then we will become a professional trader.

best way to avoid your mistakes to practice more and more on your demo account..thats only way for beginners to learn more about trading and correct their mistakes and earn more from trading.......

A newbie can not trade with disciplined from the first time. But discipline is the key to success. they made some mistake and fall in loss when they trade for first time. After losing they understand how to trade and how to be disciplined.

Already have should be understood that the best trading plan is sometimes effective in times of high volatility.Sometimes it is better to withdraw temporarily from the market so you can keep the rest do not lose everything in a moment

self-discipline is the key to a successful life, many people talk about rookie discipline doing business the discipline from the start, today, but I couldn't find a thread or message that define the fact that discipline maintenance and sometimes it's hard because more older people that they could share their successes.

There are many bugs, but has lost a little more pain to beginners should avoid, but we don't learn from the mistakes, can apply start trading Forex.Many large benefits in the trade market Newbies without the knowledge of is not as large as expected.

Mistakes newbies do make is neglecting money management. Having a good knowledge about money management helps in deciding how much money to put in a trade. Newbies should not make mistake of neglecting the money management.good luck..................

we must have good characteristic as good trader. It's not only knowledges but also mentality that should be improved from time to time. To be effective trader, you should be good decision maker in each condition in the market and also you should use proper money management in every transaction