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

[Pak003]

Originally Posted by deep thought View Post
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
yes i agree with you if beginner havn't a real trading plan they can not success in forex it's nesaisary to find a good plan to keep it for exemple a good strategie with a good risk management and good experiance

[asd567]

ager ap new trader hien or ap demo use ker rahy hein to ap ko chahye k ap es mien aa ker mistakes kam az kam kery q k ager ap ny mistakes jayada ki to ap real trading account mien success yani profit hasil na ker saky gy

[sachit]

hanji forex trader ko esme hamesha he plan ke saat market me kaam karna chahiye,esme trader jetna jada practice karke chalenga aur plan se kaam karenga to he wo esme market me sahi entry aur exit le sakenga,esme trader ko analysis karke he market me kaam karna hota hai aur yehi uske liye acha rehta hai.

[persib]

We must learn from our mistakes. I think this is the best process to achieve knowledge and experience about forex. We must control our greed and wait for the signal. the mistake so it does not lie where once again, The dream of becoming a millionaire in a few months, this is not bad but you do not have to take the form of goals, but in the form of dreams or hopes. and If a trader is employed without intent trading, it is not a wise abstract to do. You have to change the thinking of flush trading if it is a sophisticated essay idea. Many novice variations of these errors do not drain the system and they swing back and forth by the determined industry movement that they move into inconsistent triplex positions and eventually lose the money.

[ntn]

yes boos you are right if you are a new comer in forex trading and you have made some mistakes during the trade then you must ignore your mistakes and other things which made causes of loss in your trading period.

[weeklyscalpertrader]

beginers jo abi forex ka join kar rahay hain inn ko main kahna chahon ga k wo forex main invest kranay say phlay iss ko fully learn krain kyoun forex aik risky buisness hai or iss main say parmanent earn karna difficult hai iss k leyey hard working karna pary gi.

[duua]

I fully believe you but can you fulfill my one question that if a merchant has only fifty greenbacks in a pocket then what should he do as a result of that low leverage it will take at least a year for him to show this greenbacks at five hundred US dollars. If you trade with high leverage and reasonable cash administration then every factor will be true. and if you are new in forex trading you never avoid this mistake with mistakes you will make experienced and this is the best for you by doing forex trading i think now most people want to make money and this is the best for you so i think you will gain skills with loss or error You never avoid this

[pong]

According to my concept, a trading plan is a way of trading for a forex trader that he will follow during opening, closing trade or other trading activities. This plan includes how much time he will spend on daily trading, what will be his own using leverage and lot size, how much risk he will take to make a profit and everything else. He must really follow his trading plan. and having every voice of the transaction that we do this usually leads to the two things that sometimes make us hesitate to continue the romance on some trade touch that we run quite newsworthy, but also must be run as an operation as can be requested to make back worth any mistake we power the dispute later in forex activity

[salimah fx]

Yes, friend, where I have read that "Failed to plan will fail", so it is very important for any Forex trader to make a proper trading plan before entering the Forex market as this is the only way to succeed. We have to do the right market analysis, calculate the right stop loss and take profit points, set the lot size and leverage to use when trading. and All new kammer should make it easy and do not invest your real money from forex frist You have to empty your knowledge with others and get bonus and then invest bonus on real forex account but before you have to practice in demo account in forex. after practicing the demo you have to use real if your demo shows you that advantage. good luck

[sisir4]

Since your concern is about the mistakes that beginners should avoid then I would advise newbies to avoid excessive trading like excessive purchases or excessive sales. Due to excessive purchases or sales can cause their account to get margin calls and then can lead to deletion. beginners must learn basic and appropriate knowledge, information, skills, tactics, strategies, experience and money management to handle markets and accounts more effectively to avoid mistakes and make a profit. and This is one of the reasons our failures are traded with a larger capital and therefore use a larger lot size in demo accounts and we make up the mind that forex is very profitable. Its true but when it comes to real accounts, deposit small capital and trade with larger sizes to get more profits that can not be done because we have to follow money management. So when our trade goes negative, we start to face the MC and eventually blow up our account.