Two Mistakes In Trading

Discussion in 'For novice traders' started by Tengkorakfx, Oct 8, 2017.

  1. Tengkorakfx

    Tengkorakfx Active Member

    1. No trading system

    Trading system is very important in trading because trading system like guidelines for we can do market analysis well. So if we do not have trading system then trading we do will not run well only based on approaches or origin of guessing in doing the analysis alone.

    2. No discipline

    Discipline can be interpreted as adherence to the police (law) or subject to supervision, and control. Discipline as an exercise that aims to develop themselves in order to behave in an orderly manner. That way when we are not disciplined then we will not be able to trade well and consistently get profit.
     
  2. andengireng

    andengireng Member

    Without stop loss : A trader can suffer huge losses not because he is less fortunate, but because he can not limit and control his own losses.

    So, loss can be controlled? Yes of course you can. Every experienced trader always limits their losses by doing stop loss. Before buying or selling, they usually have set a limit, they can get out of the market immediately and be free from the risk of deep losses.
     
  3. Roman Rias

    Roman Rias Member

    It is no question that lack of discipline can hurt everyone involved. So, it is important for us to work towards this and make sure we are not making mistakes of been indiscipline, as that is only going to make us lose.
     
  4. Yes, I absolutely agree here. I too feel that many traders are making this mistake and that is one reason why we have seen so many losers. So, it is absolutely must that we learn these things and don’t repeat mistakes or else it will be huge disaster.
     
  5. andengireng

    andengireng Member

    Considering trading is a business, you certainly can not hope on luck. Again trading is not the same as gambling. If you just bet by hanging your fortune on luck, trust me this business will only swallow all the capital you have. Speculating is the first thing that often arises in the thinking of beginner traders in the hope of making a lot of money in a short time. And for that too they often lose all the capital they have.
     
  6. broforex

    broforex Member

    Try as much as possible not to change these levels whatever happens to the market. This simple method is part of money management, and to succeed in trading, one of the main factors is implementing money management properly and discipline.
     
  7. broforex

    broforex Member

    Yes, more pips, more strength. Don't be greedy and you will be a successful trader, Risk and reward must be 30:70 for me. I think that is the healthy risk and reward. But I know that every trader has their own risk & reward.
     
  8. JamesDourb

    JamesDourb Active Member

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  9. liafatlouie

    liafatlouie Member

    I've been trading on the Forex market for a while now, and I'm happy to say that I'm pretty good at it. Because Freshforex support me at every trading. The brokers are fantastic, the platform is great. This is just my humble opinion, but if you're looking to get into trading, you should stay away from the market until you build your skills.
     
  10. broforex

    broforex Member

    One reason is because when you are in the "comfort zone" of the sideways market - making a profit every move up and down - but turned floating loss because it is still holding position when the market turns into trending. Hold position against the market is a mistake. Profits that have been generated for 1 year, just disappear in 1 night. Worse yet, if you have to deposit again just because you're not ready to cut loss.
     
  11. liafatlouie

    liafatlouie Member

    My advice to the newbies is that they should trade following risk and money management strategies, also can control trading of emotion. They shouldn’t run after making profit in bulk because it will harmful for them as the Forex market is unpredictable, because of which anything can happen anytime that can make a trader destitute.
     
  12. broforex

    broforex Member


    Yes, repaint is normal, so don't forget to put your SL point, it is quite help and powerful to safe your account from stop out. Keep your spirit and keep trading.
     
  13. liafatlouie

    liafatlouie Member

    Thanks, broforex.
    I learned to be patient, not ambitious for big profits but dangerous for capital, the important thing is even though it is small, there is still consistent profit.
     
  14. broforex

    broforex Member

    I want to add some opinion about this, The maximum risk for each transaction should not exceed 2% of your total Balance. Understand risk management first so that your trading is more disciplined.
     
  15. liafatlouie

    liafatlouie Member

    What if the risk taken is 5%, is it still in the category of good risk management or high risk?
     
  16. ElisKovalski

    ElisKovalski New Member

    Hello!
    Thanks for the helpful material!
    Very informative and informative.
     
  17. liafatlouie

    liafatlouie Member

    Hello! Welcome to join this forum. I'm also very happy to get a lot of trading knowledge from this forum.
     
  18. broforex

    broforex Member

    Wrong on entering is normal, just practice and practice will make us better, don't forget to use our money management and keep trading. Always think that we are trading, not gambling.
     
  19. Glennbic

    Glennbic Member

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  20. broforex

    broforex Member

    Don't quit, Forex trading that is carried out on currencies gives you the opportunity to profit anytime. When prices rise, you can profit. Likewise, when prices fall. You still have the opportunity to profit. Forex trading will always be profitable if you do a good analysis and risk management.
     

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