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

[train00]

I think forex is a good job.Most successful traders will not sit on a losing position very long at all. They'll set a tight protective stop, and if it's hit they'll take their losses 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.Best of luck.................

[mahbubur]

yes i believe lack of patience and over geed and some time over trading tendency is fully responsible for our losing .but yes when we are thinking about gambling and thinking that our strategy will works every time then the major mistakes happen

[retnotriwulandari]

Top 10 Mistakes Traders Make (newbie just look it)
Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing winning trades. In fact, most professional traders will tell you that it's not any specific trading methodologies that make traders successful, but instead it's the overall rules to which those traders strictly adhere that keep them "in the game" long enough to achieve success.

* The following are 10 of the most prevalent mistakes that traders make in futures trading. They are listed in no particular order of importance:

1. Failure to have a trading plan in place before a trade is executed.

A trader with no specific plan of action in place upon entry into a futures trade does not know, among other things, when or where he or she will exit the trade, or about how much money may be made or lost. Traders with no pre-determined trading plan are flying by the seat of their pants, and that's usually a recipe for a "crash and burn."

2. Inadequate trading assets or improper money management.

It does not take a fortune to trade futures markets with success. Traders with less than $5,000 in their trading accounts can and do trade futures successfully. And, traders with $50,000 or more in their trading accounts can and do lose it all in a heartbeat. Part of trading successfully boils down to proper money management, and not gunning for those highly risky "home-run" type trades that involve too much trading capital at one time.

3. Expectations that is too high, too soon.

Beginning futures traders that expect to quit their "day job" and make good living trading futures in their first few years of trading are usually disappointed. You don't become a successful doctor or lawyer or business owner in the first couple of years of the practice. It takes hard work and perseverance to achieve success in any field of endeavor--and trading futures is no different. Futures trading are not the easy, "get-rich-quick" scheme that a few unsavory characters make it out to be.

4. Failure to use protective stops.

Using protective buy stops or sell stops upon entering a trade provide a trader with a good idea of about how much money he or she is risking on that particular trade, should it turn out to be a loser. Protective stops are a good money-management tool, but are not perfect. There are no perfect money-management tools in futures trading.

5. Lack of "patience" and "discipline."

While these two virtues are over-worked and very often mentioned when determining what unsuccessful trader's lack, not many will argue with their merits. Indeed. Don't trade just for the sake of trading or just because you haven't traded for a while. Let those very good trading "set-ups" come to you, and then act upon them in a prudent way. The market will do what the market wants to do--and nobody can force the market's hand.

6. Trading against the trend--or trying to pick tops and bottoms in markets.

It's human nature to want to buy low and sell high (or sell high and buy low for short-side traders). Unfortunately, that's not at all a proven mean of making profits in futures trading. Top pickers and bottom-pickers usually are trading against the trend, which is a major mistake.

7. 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 protective 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.

8. "Over-trading."

Trading too many markets at one time is a mistake--especially if you are racking up losses. If trading losses are piling up, it's time to cut back on trading, even though there is the temptation to make more trades to recover the recently lost trading assets. It takes keen focus and concentration to be a successful futures trader. Having "too many irons in the fire" at one time is a mistake.

9. Failure to accept complete responsibility for your own actions.

When you have a losing trade or are in a losing streak, don't blame your broker or someone else. You are the one who is responsible for your own success or failure in trading. You make the trading decisions. If you feel you are not in firm control of your own trading, then why do you feel that way? You should make immediate changes that put you in firm control of your own trading destiny.

10. Not getting a bigger-picture perspective on a market.

One can look at a daily bar chart and get a shorter-term perspective on a market trend. But a look at the longer-term weekly or monthly chart for that same market can reveal a completely different perspective. It is prudent to examine longer-term charts, for that bigger-picture perspective, when contemplating a trade.

This is a very good trading foundation and we need to practice our trade indentation in each day. I'm sure if we could apply this kta 10 basic trading will get a lot of benefits in our trade. For traders who are new to the Forex business it is to be noted and understood that in the future we do not experience a loss in our first trade.

[oodi]

the most is overloading thier accounts with what the account can not hunndle that way all is well and i really know that the money i make in the market will be all about trading.

[plus00]

Forex is a good job.remedy for the beginner is very open opportunity to make mistakes in money management but with the passage of time would later realize that it's important to do and obey.Good luck.......................

[2010]

You have appropriately outlined a every good point and which beginners regularly make. previously I used to hang on for the dropping business to opposite and create earnings but in most of the events, i reduce big. so its better to set stop-loss in every business we create to reduce of losses

[afreen.imran]

app ki tipe bohat achi hai ye muje bohat ache lagi koi b newbie es ko falo kare ga ek to wo jal sekh jay ga aur wo jaldi hi poretmad ho jay ga me app ki bat se sehmat hon ye jo app ne kahi hai k apne baekup ko nazar me rakhty hoe kam karna chahiy q k baz dafa es sa hota hai k app k pas belinc kam hai aur app ne trade barre lagi hai agar wo app k khilaf jati hai to mere khyal me app ka account saf ho jay ga

[hardyg]

many mistake we may make. but we can learn from it. if we never make mistake, we will never learn, never learn will never success. just use your losses as your learning process

[ken arok]

My mistake was not disciplined by the rule trading system, resulting in frequent loss. use analysis and money management. stop loss function to limit losses and take profit function to keep the emotions, so that traders do not get greedy. if you could generate profits consistently.

[radean]

Lack of patience is the most important factor leading to losses in forex trading. That experianced by me most times. I would not wait much longer to earn more profit. This is a very bad thing because after a while my partner was traded to move my take profit target but at the moment my position is closed.