Mistakes to avoid for beginners / Inability to manage orders.

[swapan]

I am not a beginner. But, I am still a bad trader. I loose my money several times in the forex market. I think, you are right. Because, I have done that, kind of mistakes as you have mentioned. I will regain my money soon, I hope.

[fai�al]

When you place a market order and leave it open, it means you enter a trade at market price without instructions to close the order. In other words, you are playing with the total value of your account. In order not to lose everything, he is urged to set up stop loss at each position opening.

For example, if you are long on the GBP / USD, you can set up a stop loss that will automatically sell your position if the rate drops to a certain level, pre-determined. Thus, you can significantly limit the amount you can lose on a given trade, even if you are unable to sit at your screen all the time.

Similarly, take-profit orders can guarantee a profit by liquidating a position when a predetermined price is reached. So you only need to identify the price at which profits will be taken.

well i think in the last advice that you give it that we should select the take profit order is a good way to make money because this order help us when we predict and we dont set at the computer at that time the order will close the deal automatic

[forexstudentforever1]

Who is beginner in forex. Should be trainup for 6 month opening demo account. When u earn knowledge about forex and make confidence about forex. then he go to real trading. A beginner should always take little risk in forex trading because if his trading decision is going to wrong then he not face big problem after some time market going to opposite position then he going to winning position then he get inspiration and motivation in forex trading. I always inspire new traders for practice taking demo acctt. And always follow news about currency thanks i expect your experience

Am a newbie and I will follow your advice. I will keep practicing 6 months but 6 months? is it enough for me?

[gemmy]

I also agree that Beginners should first continue their learning in a proper way , not to be greedy nor be impatient , also they should learn from others mistakes and get benefits from others experiences ,

[Narr]

i think that We should feel the impact of these mistakes as we are trading in real account with money and not in Demo account and i guess Newbies should always keep track of this in order to avoid over trading

[bokadia6]

I think many traders believe that strategy is the most important thing in forex. That is a mistake!
The most important is Money & Risk Managment. There are hundreds of strategies that can make you win but without good Money Managment you will always end up loosing.

[cozard007]

Above all mistakes in the forex trading is that of the hedging, whenever i hedge the market, the way the rest goes still looks like a mistery to me, this is a great trading instability.

[fazeel khan]

begineer ko chaiye kay wo demo account main practice kay bad he real account main trading kre direct real account mian mat trading shuru kre or emotional trading ,fear kay begair trading kre

[zahid2512]

on my opinion the general mistake of the beginners is they start with very exited and have to idea about the trade and at first maximum trader are greedy for this they open more and more trade so they cant gain in the first time,that was their mistake

[leherchand]

you are right.it is one of the main rule in forex.it deosnt matter if how near or far but you have to always use a stoploss to limit your loss and protect your capital.when we do not use stoploss everything can get out of control anytime and it is happening to most of the newbies everyday.l think it is rule number one for all of us.