Top 10 Mistakes Traders Make (newbie just look it).

****. Letting losing positions ride too long.

Most successful traders will not sit on a losing position very long at all. They'll set a tight protecting stop, and if it's hit they'll take their losses (usually minimal) and then move on to the next potential trading set up. Traders, who sit on a losing trade, "hoping" that the market will soon turn around in their favor, are usually doomed”. You have rightly piercing out a very good point and which newbies frequently commit. Earlier I used to wait for the losing trade to annul and make profits but in most of the occasions, i lose big. so its better to set stop loss in every trade we make to minimize of losses,Dicussed very sort .

Perfectly said, these are the mistakes we trader keep committing every day. The irony of the things is that many of us know these mistakes but ability to discipline ourselves or would i say tame ourselves in other to adhere to these things is what many of us lack. But happy is the newbie that early take head to this instructions

Thank you very much to offer for the beautiful Mouchaa This is Me I read and benefited from it hard generally Lake Thanksgiving and downright Houdrtk tactful dealer Excellent Lord to help you and Akram

Personal money management and time management is essential for all traders ..
If it does not do any good to spend money on the time it will be useful if you decide .. He is always advisable to manage your money and time too.

yeah these are some common mistakes everyone done in the forex market if we do not want to suffer loss in the forex market the we need to control on these mistakes and also we need to mange our money well in the forex market and always we need to follow the indicators,

wow very nice topic. even after reading it, I felt that it was me. thank you because you remind a few things to me. especially those in the number 7. I always sit in a losing position very long. and do not learn from my mistakes. Now I am ready to rise.

trading plan that is part of a personal goal comrades had nothing to do I think the impact on the loss you suffered because according to my trading plan that is associated with the design of your business in the forex

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Originally Posted by asikrana

trading plan that is part of a personal goal comrades had nothing to do I think the impact on the loss you suffered because according to my trading plan that is associated with the design of your business in the forex

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Having a trading plan is very much essential in the forex trading field otherwise we can get no where in this highly risky market. Thus, i would suggest that its always best to have small and reasonable target. Most of us have to just plan it out to be financially free, it doesnt actually require for us to make huge money. Its the money management which is important.

i think he also a great forex trader that able to read the market movement and predict it precisely, he also capable in entering the market once he sees an opportunity,,,

Novice traders often see Forex as a simple way to become rich in a short period of time, without actually considering the risks and effort that must be put in to achieve such a goal. Placing very large trades in proportion to your account balance in an attempt to make a huge profit is unlikely to be successful in the long term because eventually a trade is likely to go against you, leading to severe losses.

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A common mistake made by novice Forex traders is to begin trading without having sufficient knowledge of their chosen currency pair(s) and how currencies are influenced by global events. Learn as much as you can about how different financial markets impact each other and how they intercorrelate, ie stocks, bonds, commodities and Forex. This knowledge will enable you to make better informed trading decisions when various economic figures are released. It is also important to identify the type of market that is prevailing to allow you to adjust your strategy accordingly and thus avoid entering into losing trades