Mistakes to avoid for beginners / Lack of Discipline.

[wisnupra]

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.

usually for me when i get two or three consecutive losses i will just call it quiets and i will let the trade run on its own because when you have consistent losses you tend to get emotional and start trading badly . yeah right in my trade in my desire to see the market just kept going on and this then makes me have to be in a bad trade because there are many factors that continue to affect my emotions in the trading

[abdulrehman_9950]

It is very easy to say to earn money online! You loss and lost the total balance you earn on posting so avoid the mistakes. Do trading very carefully. During the Periods of high volatility control your own emotions. For best trading create objectives and plan for it.

[hsalem]

i think the new traders inn Forex need to analysis all deals they do in trading espicially the
profit deals to be able to avoid this mistake in the Future , so they need a hard work to success

[sultan fx]

continuously having several mistakes that must be avoided by newbies whereas beginning forex trading, other then practically unless we suffer from them we wont be able to actually do it right. the lesson learnt by mistakes may well be worth of your new toy unless we suffer small loss with small lot deals.

[shujaat Ali]

The Forex trading is a well disciplined business in which the trader has to follow all the rules and disciplines of the administration so that he may get profit otherwise his account will be banned and all of his invested amount will be wasted. So the new traders have to realize this fact.

[nobita]

forex is extremely sensitive trading. it wants discipline in each and every moment. however newbie will not trade with disciplined from the initial time. this is often the explanation several newbie traders have failed in forex business. lacking of discipline by no means that accepted in forex trading.. therefore, discipline ought to be maintained for beginners also as sensible traders.

[naija]

The only real control to emotions in forex is discipline, so when a trader lacks discipline, it is difficult to really manage their trading. And newbies though are never discipline because of their naive nature in trading at first

[Ace Cool]

hello friends sabse pehle to mai kahunga ki aapka theread bahut hi achha hai and sath hi sath ye baht jyada helpfull bhi hai isse bahut sare newbies ko bahut jyada help aur guidance milegi thanks for sharing here and yup you are ri8 yha par discipline me rehna bahut important hai

[vber]

I still beginner, and i still lack of discipline also. i broke many trading strategy and my trading rules and my trading risk for many and many times, but not for always they should be captured and punished for it

[gujjarmalik]

Jab ansan hai hi galti ka putla to phr galtian to us say hoti hi hain lakin agr hum un galtion say seekhain to phrhi kamjabi pa sakty hain lakin agr galtion pr galtian karty jain to phr hum kis tarh bhi kamjab nahi ho sakty yah baat bhi dursat ha kay jb bhi koi naya kaam start kia jata ha to iss main galtian zaror hoti hain lakin jb woh ahstaahsta seekh jata ha to success us kay kadam choomny lagti ha iss liye zarori ha kay galtion say hi learn kar lia jay