Mistakes to avoid for beginners/The absence of a real trading plan.

Expect to become a millionaire in just a few months is not the only mistake made ​​by novice traders. Indeed, a very common error is to not take the time to formulate a real trading plan. A trading plan, it does not mean we will look at the USD / JPY, expect it to fall to 80 yen and placing stops. No, it's not that. In fact, the trading plan consists roughly of two main aspects: an overall goal for your trading activity and a more specific plan for each of the trades you make.

An overall objective involves knowing what currencies you are trading - knowing that a distinction exists between my major (USD, GBP, JPY, CHF, EUR ...) and emerging (CNY, BRL, PLN, CZK, THEY ...) - the lever that you want to use and finally the time you want to devote to trading. Your plan should also specify realistic goals in terms of ROI. That is to say that we should not expect to earn 100,000 euros in the space of two months with an investment of 10,000 euros. Finally, we need you to put in place an exit strategy for each market trades you make, knowing when you want to sell or buy. This includes knowing the level at which you want to stop losses or take profits

yes,right you are.We have to learn from our mistakes.I think it is the best process for achieving knowledge and experience about forex.
We have to control our greed and wait for getting signal.


Happy Trading

I'm agree with you , we must make a good strategy with a good plan to make deals and make profit , we must update it in all times , we won't keep constant plan in all our trading , we should also make a plan B that will be replaced by the original one if the deal is not going as we expecting

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Originally Posted by deep thought

Expect to become a millionaire in just a few months is not the only mistake made ​​by novice traders. Indeed, a very common error is to not take the time to formulate a real trading plan. A trading plan, it does not mean we will look at the USD / JPY, expect it to fall to 80 yen and placing stops. No, it's not that. In fact, the trading plan consists roughly of two main aspects: an overall goal for your trading activity and a more specific plan for each of the trades you make.

An overall objective involves knowing what currencies you are trading - knowing that a distinction exists between my major (USD, GBP, JPY, CHF, EUR ...) and emerging (CNY, BRL, PLN, CZK, THEY ...) - the lever that you want to use and finally the time you want to devote to trading. Your plan should also specify realistic goals in terms of ROI. That is to say that we should not expect to earn 100,000 euros in the space of two months with an investment of 10,000 euros. Finally, we need you to put in place an exit strategy for each market trades you make, knowing when you want to sell or buy. This includes knowing the level at which you want to stop losses or take profits

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trading main loss be hota ha or profit be haota ha or trading main mistake be hote han kabi kabi to assi assi mistake hot jati han k banada boht pastaata ha k yar main na glati kar de es laya mistake to hota he htoe ha chyia or newbie ho ya par beginners ho trading main ak ad dafa mistake ho jati ha .

Nice post here, it is really important to know that trading is not a get rich quick scheme, one could not become bill gates or soros in few years, better follow proper trading discipline and start with majors currency pairs only to make consistent profit in the forex market

I do not disagree with you. I think you are right. Men make mistake everywhere. Especially in forex, there is a huge chance to make mistakes. So those who are new in forex must learn from their mistakes. With that experience, they will definitely do well in future.

Quote:

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Originally Posted by deep thought

Expect to become a millionaire in just a few months is not the only mistake made ​​by novice traders. Indeed, a very common error is to not take the time to formulate a real trading plan. A trading plan, it does not mean we will look at the USD / JPY, expect it to fall to 80 yen and placing stops. No, it's not that. In fact, the trading plan consists roughly of two main aspects: an overall goal for your trading activity and a more specific plan for each of the trades you make.

An overall objective involves knowing what currencies you are trading - knowing that a distinction exists between my major (USD, GBP, JPY, CHF, EUR ...) and emerging (CNY, BRL, PLN, CZK, THEY ...) - the lever that you want to use and finally the time you want to devote to trading. Your plan should also specify realistic goals in terms of ROI. That is to say that we should not expect to earn 100,000 euros in the space of two months with an investment of 10,000 euros. Finally, we need you to put in place an exit strategy for each market trades you make, knowing when you want to sell or buy. This includes knowing the level at which you want to stop losses or take profits

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yes i agree with you if beginner havn't a real trading plan they can not success in forex it's nesaisary to find a good plan to keep it for exemple a good strategie with a good risk management and good experiance

Actually you're right, but the most important thing is to learn from his mistakes so as not located where once again, As for the dreams of becoming a millionaire in months, this is not bad but you should not take the form of a goal, but in the form of a dream or hope.

I think a beginner trader must be mistake in forex trading because he has low knowledge about forex trading. I suggest a trader should be follow some rule like as b=demo trading minimum 6 months, control emotion, avoid aggressive trading, learn about risk and money management. If a trader follow this then he success in forex.

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Originally Posted by sajid

yes,right you are.We have to learn from our mistakes.I think it is the best process for achieving knowledge and experience about forex.
We have to control our greed and wait for getting signal.


Happy Trading

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mistakes and experiences are the best lesson that we had bought with losing ...then we learned from them and completed the weakness..
and then, we will become a mature trader in the future