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

[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

[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

[newentry]

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

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

[gaga]

From our own mistakes, but in fact we are dealing, most of the traders, while the ends by repeating the same mistakes again and again is the main reason that always fails with foreign exchange trading to know many things.

[sheryraj]

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

biggners should be need to avoid the wrong things because this is so risky and all the peoples should be need to make a good plan for the trading and do all the things according to this and the other thing we should must be got knowledge

[kaushal4]

If you make the mistakes in the live trading then it is good thing and then you never make this mistake in the next trade and so then you make the better in this business. As for the dreams of becoming a millionaire in months this is not bad but you should not take the from of a goal but in the form of a dream or hope. Better follow proper trading discipline and start with majors currency pairs only to make consistent profit in the Forex market.

[a.k]

yes i agree with this thread mistakes avoid is very important thing in forex for newbies because newbies did'nt know about forex very well they learn about forex and when they start working they have little mistakes and face loss because when start working in real trading then they did'nt have enough knowledge and experience about tarding that's why they face loss i think firs learn and get good knowledge and experience about forex trading then working and earnng....

[mohsinkhan3988]

yes dear we didnot learn from our mistake and we do mistake again and again this is the main funda for beginners and we have to really think about it

[Money hunter]

I think all are basically new trader here I mean the beginners they start their Forex trading here in Forex trading without having any real Forex trading plan and they can not find their way of trading here after getting loss, this is one of the mistakes .

[torani]

Thats good advice to apply for beginner. As we know together, every beginner may not have good idea o apply what strategy good for them. With your description, i hope at least they can understand what way is good to follow, for their first step