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

[quraf]

People always have a rush to open positions and are always in a hurry to close positions with less profit as well. But they are never in a hurry to close positions with fewer losses. And for this reason they make a profit in many positions but get 1 big loss in 1 position and lose everything. the main is money management without this no one will get for a long time, i lost some of my account due to lack of money management plan.

[ethernet]

You are some of the less that can cause loss & can even lead to a successful trader. so we have to use that quality like; lack of forex knowledge of lack of exercise, lack of attention, lack of the latest news about currency information, which is the most important factor to get the loss. during trading by traders can do that, it is also known as a mistake. This trade is a lot of mistakes by new forex traders, first of all is the lack of knowledge because this trade requires traders who have a good knowledge about this trade because this is a very easy and very simple way to lose money and others are greedy because it is so bad for each and new traders .

[kalakuan]

maybe that's the way you can think of it. The Ultimate Secret is trading. Also by doing this, you can walk away from your PC and have a free attitude where the market will go. very small compared to the size of the account, never risk more than 1% of the value of your transaction on one trade. This will take most of the stress from trading. Against your emotions day by day your friends have been right but in most of the events, I'm reducing greatly. so it's better to arrange a stop-loss in every business we make to reduce the underlined losses with very good points and which beginners do regularly. before I usually delay for a business that goes down the opposite direction and makes an income

[munich]

Yes, thank you brother, money management is so important and without it we will not receive the benefits they want and fortunately can stay for a long time, I lost some of my account because I did not manage my money very well but I try to recover it with this method. I think that on what mistakes made by beginner traders also include the greedy, greedy be4casue also make us got a mistake and make you a failure when we trade in forex business

[rukiah]

yes after all these are some common mistakes that dome by all traders we have to get on their management while not management these mistakes if we predict we will be successful inside the whole forex market we predict wrong we have to work tiring then we will win here , good cash and straightforward across the forex market. that most beginners always trade with emotion and with a lot of aggressiveness and by doing this they always make a loss so they should avoid these things and I must say that they have to work hard

[interupted]

Many mistakes can be made by traders and we should try our best to avoid them and when we want to trade we have to analyze the market and we trade without analyzing it is a major mistake and we should have to get knowledge about this and then in practice in the demo. This mistake has always been a killer to kill our accounts, even in some cases, completely killing our capital and letting us move from one million to the poor overnight, so good traders will learn a lot to change themselves to not doing these things.

[iqrayousaf]

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.

thank you so much,,, it is really a good and informative post all traders specially new traders,,,, these are really common mistakes of traders which we do during our trading ,, and these are really happning ,,, there fore we get loss in trading,,, we have ti invest big capital and avoid to over trading,,, we have to work with proper management so that we can not get loss ,, we have to work patience and discipline make the proper trading plans

[SA148P]

Bhai ap ne kaha to thek ha . Or jo mistakes ap nebatai hain ya sab thek hain . Asy he hota ha lakin ham in mistakes se bach sakty hain . Vo b serf experience se to experience hasil karo or . Loss kam karo .

[Pakeeza]

The prediction of forex market is not so easier than stock market. In this forex market everyday trillion dollars are traded here. But in the stock market only a some company's stock are traded here. Total world's economy depends on forex market.

[resham]

I agree with point no. 7. I have lost a lot of dollars when I fail to close my position. When I suffer losses, I stay long in the position of thinking that the trend will benefit me and I will make a profit. But in the end the trend is getting worse and worse which brings me to big losses. very good post, yes I agree I made a lot of mistakes in trading and my worst mistake to date is money management, despite having the best trading strategy and best technical analysis, I am loose for money management