Mistakes to avoid for beginners / Lack of Discipline.

[tajdarbet]

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.

thank you my dear jo app ne itni achi bariane ham se share ki hane or main es main kafi khush houn wese main to yahi kahoun ga k app ko es main na sirf or sirf apni khud ki knowledge par he bharosa karna chiye or mistakes par kabo pana chiye

[syedasadsiddiq]

You can't deny from the fact that newbies usually make mistake which fell their account in loss is the lack of discipline while most of the trader don't follow that is the essential element of forex trading. As we all know that very well forex is very complicated business and unpredictable in nature so you have to be very precise with your trading.

[Lyubov]

if want to discipline so we must to consistency . Consistency is comprised of consistently abide by the trading rules, and adhere to money management is both a consistency of the trading process. If both can be consistent, it will result in consistent profits despite market moves dynamically.

[skboyra]

forex is market where a lot of financial term is used. so for the beginner first they have to obtain this theoretical knowledge and have to see that how this knowledge practical implicated in the market. and they have to more disciplined to use this terminology.

[dmambi]

yes it's true ... the reality that the way to maintain disciplan and sometimes it becomes difficult because seniors do not share their success stories ... If the elderly that change has become easier for us.;

It is not true for all the seniors, many people share there experience and advice people to follow some hints to avoid further loss and make profit. But the newbies expect that they should share there complete trade setup to make quick profit without any effort, which is not at all possible in practical because every trader is a unique one.

[antosco]

The best way for us to start forex trading is for us to first of all draw out a trading plan so that we can be able to trade with guide and good direction. In drawing out the trading plan, we must make sure that we set our take profit and stop loss level so that we don't become greedy when we are trading and hence exposing our account to risk.

[rikon]

most of the new trader make mistake at first time trading in forex market. I consider that mistake is the main reason for make loss in trading. By the way I consider that every new trader should be find out the mistake what they doing in their trading and try to avoid this mistake.

[sabuz]

discipline means how to your trade control that like money management,use stop loss flow all indicator and fundamental that think but that is way to trade forex if you know that you should not to be a trader and discipline come that way not other mean of discipline,,,,,,,,,,,,

[ishvara]

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.

A complete lack of discipline and planning is a major killer for forex exchange traders. I believe that as a trader, we must have knowledge, discipline and also have plans about how to analyse and open each forex exchange trades.

[isbhacker]

Any one can be in loss an expert a newbie and any one but you have to use MM and a good strategy to cut your losses and let your profits run.Dont get revenge over market Dont blame market or yourself for loss and just see what mistake you did and learn.