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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. #61
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    Quote Originally Posted by samprazaan View Post
    sometimes. we have tried to follow the market with pay attention the true trend, but when put the position, suddenly the market moved back and against us, so hard to understand at this part, then i checked all time frames, then i saw one of them that gave the impact to the market, so the conclusion that we need to check first all time frames and find one of them that more active for movements,
    Emm, you better focus on your major trend. The major trend containing the ripple and the elliot wave. I think there is no moveback trend and reversal trend if trader focus on the major trend. Major trend is containing the many minor trend. I think the moveback trend after put order is the minor trend.

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  3. #62
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    one of the most important mistakes I fall of is the self confidence in a very high way . also it is our emotions which always interferes with our trading and do not enable us to control them . I may find that the trading ib =n a clear mind is a must manu of us and I some times lack to . these some of the faults I fall of not all mistakes

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  4. #63
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    My biggest mistake is doing everything very fast I'm not in Forex a long time but i did a lot of trades in small time a luckily all of them are in demo account, and i had stooped doing this lose rally and i started to get a knowledge about all of this and now i start understand why the patience is very important in Forex. And now i think I'm suspended my thoughtlessness and quick action.

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  5. #64
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    Quote Originally Posted by aris90 View Post
    Emm, you better focus on your major trend. The major trend containing the ripple and the elliot wave. I think there is no moveback trend and reversal trend if trader focus on the major trend. Major trend is containing the many minor trend. I think the moveback trend after put order is the minor trend.
    We should concentrate on major trend learning first you are saying right that major trend can help us to make a lot of money in this market. For that we can focus on long term charts and can make a good market trend analysis. We should never forget that trend is our friend in forex and a trend follower can become rich in forex

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  6. #65
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    [lang=id]still with my old problems , so rush to enter the market and do not wait for several times to get the correction ,the results, i have to hold the order with big floating minus and of course so danger for me and if i took high risk. several times this problems gave me bad results with loses in hands[/lang]

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  7. #66
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    Quote Originally Posted by Earnperfect View Post
    We should concentrate on major trend learning first you are saying right that major trend can help us to make a lot of money in this market. For that we can focus on long term charts and can make a good market trend analysis. We should never forget that trend is our friend in forex and a trend follower can become rich in forex
    Major trend is the real trend. And there is a good sentence to get profit in forex trading, trader must follow the trend. I have good sentences, trend is the trader friend. So trader just look and focus on the trend, and actually the real trend is the major trend and the minor trend is just the distraction.

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  8. #67
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    Quote Originally Posted by aris90 View Post
    Major trend is the real trend. And there is a good sentence to get profit in forex trading, trader must follow the trend. I have good sentences, trend is the trader friend. So trader just look and focus on the trend, and actually the real trend is the major trend and the minor trend is just the distraction.
    [lang=id]you are right, we just need to follow the true trend, we can use the higher time frames, but we have to prepare it for some volatile that will run immediately in the market and maybe will touch the take profit, so some aspects is needed by us to know and how to handle it,[/lang]

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  9. #68
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    Quote Originally Posted by aris90 View Post
    Major trend is the real trend. And there is a good sentence to get profit in forex trading, trader must follow the trend. I have good sentences, trend is the trader friend. So trader just look and focus on the trend, and actually the real trend is the major trend and the minor trend is just the distraction.
    Yeah right sir that's why I always suggest a trader to check about long term time frames rather than shorter ones. Because in short term time frames we will not be able to see the a real major trend. So if we have to avoid the false trend then its very important to learn about the major trend first. We should use higher moving averages like EMA or SMA 200

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  10. #69
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    Quote Originally Posted by Khimi234 View Post
    Yeah right sir that's why I always suggest a trader to check about long term time frames rather than shorter ones. Because in short term time frames we will not be able to see the a real major trend. So if we have to avoid the false trend then its very important to learn about the major trend first. We should use higher moving averages like EMA or SMA 200
    There are lots of mistakes that could affect the tardesr that are using the short time frame, the short time frames are not often filtered very well. It is very good to understand trading in the manner that gives confidence to you as the trader. This is what the long time frame analysis would do for you all the time you choose it.

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  11. #70
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    Quote Originally Posted by cozard007 View Post
    There are lots of mistakes that could affect the tardesr that are using the short time frame, the short time frames are not often filtered very well. It is very good to understand trading in the manner that gives confidence to you as the trader. This is what the long time frame analysis would do for you all the time you choose it.
    Low time frame is used for short-time trading only so if you are using it for long-term trading then it is not effective. It is important to choose right time frame adjusted with your style of trading. Low time frame is not filtered well but it is better to use low time frame when you're scalping than using high time frame.

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