Mistakes to avoid for beginners / Lack of Discipline.

[challenger ab]

i think all beginner must be learn before trading how to manage their money and how to control the risks per trade .they must learn on demo how to earn and after learning how to earn they must build their system for earning and build good strategy to exit from the market in the good time to not lose all beginner must know that forex need long time to be professional and to be good

[m.h.mithun]

Let's examine the steps for becoming a forex trader.
1. Trading Capital

Forex traders do not need to have a lot of capital to trade due to being able to trade on margin. The average forex broker requires at least $300 to open an account and start trading. A good rule of thumb is to have at least $1000 to open a mini account, preferably $2000. This number might sound a little high for beginners, but this will allow you to trade with a bit of a buffer in case of losses. 2. Open a Demo Account

A forex trading demo account is an a trading account with monopoly money in it that is connected to the live market. Trades can be placed in real time and represent what would be true losses and gains if the money were real. Before you put 1 penny on the line with trading, you'll need some practice. A demo account will give you the ability to practice trading without the pressure.
3. Forex Training or Practice

Aside from practicing, you may want to seek some trading advice from a forex trainer or forex books. As a trader you will need to develop your own style and trading ideas, but in the beginning, it can be helpful to have some professional direction and recommendations. Forex is very daunting in the early days and some guidance can really help.
4. Become Profitable

Before you actually commit to live trading and money on the line, you should be able to profitably trade on your demo account or with paper trading. Your track record should be more than a few weeks, at least 3 months, preferably 6 months. It will be difficult to refrain from trading after you make those first few profitable trades, but experience really counts in forex trading. It's something that you cannot work around, you have to get it the old fashioned way, hard work.
5. Go Live

After practicing for several months, doing a little training, and getting some forex education and becoming consistently profitable, it's time to start making live trades. You may find that it's a little different to have actual money on the line, but if you stick to the same practices you used to be profitable while trading the demo account, you will be successful.
Main reason for loss:
You will be required to deposit an amount of money (often referred to as a�security deposit� or "margin")with your forex dealer in order to buy or sell an off-exchange forex
contract. a relatively small amount of money can enable you to hold a forex position worth many times the account value.This is referred to as leverage or gearing.The smaller the deposit in relation to the underlying value of the contract,the greater the leverage.The Risks of Trading in the Forex Market .If the price moves in an unfavorable direction, high leverage can produce large losses in relation to your initial deposit. In fact,even a small move against your position may result in a large loss, including the loss of your entire deposit. Depending on your agreement with your dealer, you may also be required to pay additional losses.

[elkashif]

1- don't day trade or scalp
2- avoid most forex rebots
3- don't predict
4- markets don't move to science
5- following expert opinion and news stories

[insta1988]

biggners k liyeh sab say bari baat jo main inhain batana chahta hon wo yeh hai k sab say pehly wo demo trade krain or real account main aik waqt main aik hi trade krain aik waqt main aik say ziada position na lain warna loss ka khadsha bhar jata hai

[asifch]

There are many mistakes that should be avoided by newbies while starting Forex trading, but practically unless we suffer from them we won't be able to do it. The lesson learnt by mistakes is worth of it unless we suffer small loss with small lot orders

[zahidrock]

I don't think that with good discipline we can avoid mistake. I think mistake creating from your knowledge. If you have no more knowledge then you can do one big mistake which can give your loss on your trading.

[The Blessed]

As a begginner you need to avoid so many mistakes. Like lack of adequate trainning as it is essential to get proper traingnig before going life. Greediness is another thing that should be droped. A nd the your emotions is something you need to also put in check as a begginner in this market.

[sarwina90]

no discipline is indeed one factor that often makes new traders suffered huge losses even MC. discipline when trading and remain obedient to the rules we've created is the way to succeed in this business.

[nayyerfazal]

there are many mistakes that beginners do one of them is also a greedy beginer. he becomes greedy and losses things.

[prince2]

I think Forex is a good job.Every days many people are talking about the diciplan but i did not find any thread or post yet which define the reality that how to maintain the disciplan and some times it become difficult because seniors did not share their success stories.Thanks every one..........