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Thread: My trading mistakes during trading

  1. #1
    Trader Hukam's Avatar
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    Unhappy My trading mistakes during trading

    I am doing trading since over more than 4 year's now. I learned a lot in my life through a great trading experience. First 2 year's were very bad for me but since last 2 year's everything going very well. Today I want to share my trading mistakes with you, hope you will learn very well from this thread and will try to avoid these mistakes in your trading career.

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    1.Started trading without any good trading knowledge: I started to make money without getting any good knowledge but due to lack of knowledge and lack of experience I lost all the time my money in this business

    2. Ignoring my risk management and money management rules: I never tried to learn about these two important things called risk management and money management. I think these two are very important to implement in our trading.

    3. Never keeping a trading journal: I never tried to make any trading journal. But later after regular losses I come to know that it's very important to create daily journals in my life, and since then I am getting a better result in trading

    4. Was not accepting any loss: I was not accepting any loss in my trading. That time my main aim is to make money and was not using any stop loss too because was afraid of loosing money in forex. But now I am using proper stop loss in my trading and accepting my losses too

    5: Was Becoming emotional and greedy again and again: We all know very well that its very hard to control our emotion and greed during trading. It takes a very long time to control your greed and emotional in trading. Since more than 2 year's I am able to control these things very well. But for a new trader it's not a very easy task at all.

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    Conclusion: There are many more mistakes but I shared only the few top ones. Hope you all will not do a lot of mistakes like me in forex and will control your emotion and greed on time too. Happy trading

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  2. #21
    Trader Hukam's Avatar
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    Yeah anybody can loose his account in forex but professional forex trader's know very well how they have handle their trading account, its very important to prepare yourself properly for real trading, proper discipline is very important, I always follow better risk management and money management in my trading for better result and that's best for career

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  3. #22
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    It is good to note what is not good in your trading, this is what I appreciate in this thread. There are lots of ways of trading, some will help the trader well, while some will not help the trader at all. But one thing that is good is to find the ways of trading that is good first. And after this, the trader should locate a real trading principles and discipline.

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  4. #23
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    I also think that it can take a long time to build our trading system nobody can find a better strategy over one night for making a good trading strategy we have to spend a lot of time in our business. And only our real trading experience help us to know about that, because of better learning about these all factor's now you are doing better trading in forex Mr Hukam keep it up

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  5. #24
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    Quote Originally Posted by forexlearner View Post
    real trading experience
    Trading real makes trader can manage his emotion and feeling. Trading forex market is not just strategy but also about mentality and psychology. Trading real is way to practice how to use trading emotion and feeling management. The mistake have made on real account is learning curve for newbie trader.

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  6. #25
    Trader Hukam's Avatar
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    Quote Originally Posted by aris90 View Post
    Trading real makes trader can manage his emotion and feeling. Trading forex market is not just strategy but also about mentality and psychology. Trading real is way to practice how to use trading emotion and feeling management. The mistake have made on real account is learning curve for newbie trader.
    Yeah there is no doubt in it mate we can learn well in real trading account, Forex trading not include only a trading strategy use we need a strong trading mentality and we should have a good capability to manage our trading system in a good way. Good real trading practice can help a trader a lot to face and improve in problem of emotion

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  7. #26
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    Yes, these are the most common mistakes we make during trading. Even I make some of it today. Last few weeks were very bad for me as I didn't use stops and I got many stopped out with my bonus money and real money. I know it was my mistake not to follow the rules and I was not prepared to take any loss from my trade but I lost it all. It was far better to take small loss than losing it all. So we should actually prepare our mind to take losses and also make sure it is not very big. Thanks for your nice thread.

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  8. #27
    Trader Hukam's Avatar
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    Quote Originally Posted by nkhan2810 View Post
    Yes, these are the most common mistakes we make during trading. Even I make some of it today. Last few weeks were very bad for me as I didn't use stops and I got many stopped out with my bonus money and real money. I know it was my mistake not to follow the rules and I was not prepared to take any loss from my trade but I lost it all. It was far better to take small loss than losing it all. So we should actually prepare our mind to take losses and also make sure it is not very big. Thanks for your nice thread.
    Your welcome mate, Yeah I also think that its very important to accept our losses in trading that's my own trading experience too some time we try to ignore stop loss which give us more loss in trading, its better to face them and along with it we need a good trading system and good trading psychology in trading. Don't worry mate I am sure you will recover your profit in your next trades just believe in you and your trading strategy

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  9. #28
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    [lang=id]almost of us came to forex trading with zero knowledge, we did not know how to start it and although ever used demo account first, at real account, we got the problem to set for orders, buy or sell, what the first thing need to do ? will it profitable or just give us loses ? so many questions came up in mind, ,,,but when we started to take a decision and did it, new experiences become ours and as the guide to take next steps[/lang]

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  10. #29
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    Quote Originally Posted by samprazaan View Post
    [lang=id]almost of us came to forex trading with zero knowledge, we did not know how to start it and although ever used demo account first, at real account, we got the problem to set for orders, buy or sell, what the first thing need to do ? will it profitable or just give us loses ? so many questions came up in mind, ,,,but when we started to take a decision and did it, new experiences become ours and as the guide to take next steps[/lang]
    This is the problem of most beginner and aspiring traders, some of us dont have the proper knowledge when we join the market, we try to do some trail and error in our trading and so the results is very ugly, trading for me is one of the difficult profession because there are only a few that succeeds, yet most of us try to do things just by our own effort thinking that it is an easy task to learn and succeed in these market.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  11. #30
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    I love this thread, this is mistakes that many traders are making, and at the end, they will be blaming themselves, if you can correct your own now, it is better. First thing to do is to know what direction you want to take, then the risk you are taking is, This is a good pint to reference the stop loss and keep your trading account safe till you are full safe.

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