mostly the beginner wants to make millioner over the night so they trades the fast and dont wait the clear movement of market and they take the loss i think if they wait the market then they take the loss
many beginner do same mistake of earning huge money from the forex business so the open high volume trader and if there trade transfer the bad then they loss all their money so do not make this mistake
One of the common mistakes that beginners make is their over-reliance on the trading signals or predictions of other traders which leads them to take higher risks and often end in losses or margin call.
there are new traders to whom i was cogent time and afresh that if you are trading in the audience annual again accomplish trading action for yourself so that you may accomplish in the approaching but they were just trading about and had losses.
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
Yes, i agree with this. Forex trading is not to make quick profits. In fact, Forex is not so easy. We need to spend huge time for learning and to get practice. If we patiently do trading for some years to get some experience, then we may get familiar with trading. Demo is right choice to get experience, but we need to do demo effectively and not for fun.
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
All forex currency exchange traders must make sure that they never trade the forex markets without having a well laid out trading plan to assist them. This is a straight path to losses and many traders in forex are failures because of a lack of planning.