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  1. #1

    5 Mistakes to Avoid

    I know there are countless threads and posts about mistakes, but given that plenty of newbies get attracted to trading around December due to heavy promotions I thought I put my [Only registered and activated users can see links. ] here (this is not a complete list and there are many more mistakes to avoid, but personally I think it is a good start):

    1. Thinking that trading in a demo account will make a trader out of you.
    2. Trading in the wrong account type.
    3. Miss-use of stop loss orders.
    4. Thinking leverage caused you to blow your account.
    5. Ignoring proper risk management

    Again, this is my list and recommendation and there are plenty of other mistakes newbies make and should avoid. Feel free to add to them.
    [Only registered and activated users can see links. ]

  2. #2
    Trading is easy.
    Few codes and back testing will skim money out of the market.
    Learning technical analysis will do wonders.
    Using as much indicators on the chart will better the trading.

  3. #3
    aenigma's Avatar
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    Quote Originally Posted by trump View Post

    Trading is easy.Few codes and back testing will skim money out of the market.
    Learning technical analysis will do wonders.
    Using as much indicators on the chart will better the trading.
    Are You Sure My Friend 'trump' ; Feel Many Successful Traders Might just Disagree .......

    Just Beware; You are against the Smartest & The Best People in the World .....

    Mistake to avoid --> Friends IMHO - There are two types of capital at stake on any trade (Physical as well as Mental) - Fight Tooth & Nail to preserve Both

    - Maxim

    Remember A Bad Trader would not be able to make money even the best & the proven strategy & a Good trader can make money even by a average strategy; The difference being Money management & Psychological edge"

    "Trading is simple but Trading is not easy"


    My 2 cents - Wish You all Many Green Trades ahead ...
    Wish You Green Trades !

    Warm Regards !

    Aenigma ..... :)

  4. #4
    I guess that nothing can substitute the hard work of study how the markets works to after enter in to them.

  5. #5
    Quote Originally Posted by aenigma View Post
    Are You Sure My Friend 'trump' ; Feel Many Successful Traders Might just Disagree .......

    Just Beware; You are against the Smartest & The Best People in the World .....

    Mistake to avoid --> Friends IMHO - There are two types of capital at stake on any trade (Physical as well as Mental) - Fight Tooth & Nail to preserve Both

    - Maxim

    Remember A Bad Trader would not be able to make money even the best & the proven strategy & a Good trader can make money even by a average strategy; The difference being Money management & Psychological edge"

    "Trading is simple but Trading is not easy"


    My 2 cents - Wish You all Many Green Trades ahead ...
    @aenigma, I think my post no#2 was not clearly presented.Those are the illusions/fatal mistakes even many pros take for granted.Hope I hv made my self clear.Since the titile of the thread was 5 Mistakes to avoid, so I just enumerated 4 of them, but the mistake family is so large that , you avoid one and commit thousand others in some other way.

  6. #6
    One of the most common mistakes that forex traders make is using too much leverage.

  7. #7
    aenigma's Avatar
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    Quote Originally Posted by trump View Post
    @aenigma, I think my post no#2 was not clearly presented.Those are the illusions/fatal mistakes even many pros take for granted.Hope I hv made my self clear.Since the titile of the thread was 5 Mistakes to avoid, so I just enumerated 4 of them, but the mistake family is so large that , you avoid one and commit thousand others in some other way.
    Okey; Get it

    Friends

    For Mistake to avoid --> Trading without a well thoughtout Plan - Do have a Trade Plan - 1) Do not trade without a Trade Plan (Difference between Successful Trader & others) - Adhere to the Trade Plan No matter What (Your account will Thank You)

    Frequency of Trades - More trades do not mean More profits its the Quality & not the quantity that will lead a Smile into Your Bank. Be only in Few trades at a time (Best & pickey ones - Manage them well )

    Reduced Position Size - When Your are stuck in a Sting of Losses. Reduce your Position size with each trade at such Loss ( People do the opposite They increase the Position size to Make good the losses - Remember SL is a friend )..... You have accepted the Risk on each trade in Your Plan & Your aim is to make money (Over a period of time with both wins & small losses) as per your trade plan & not to win on each trade or Get on a winning or losing streak on trades) ....& Gradually increase your size if you are in a winning streak. (Gradually does not mean from Size of 10 to 100 at the most it can be double 10 to 20 with each successful trade)

    The Aim is to Play the Game Longer - Survive & than thrive ( & in that Order ).

    Wish You Many Green Trades ahead
    Wish You Green Trades !

    Warm Regards !

    Aenigma ..... :)

  8. #8
    Thanks man yo are right

  9. #9
    Either you take money from market or you provide liquidity.

  10. #10
    get your money management figured out..i does no good to be up a big % only to have risky trading take it all back.. compounding is your friend... be here today and tomorrow

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