Common mistakes on forex trading

[Immilash]

Sometimes it makes me to wonder, someone can just delve into forex trading without having good idea on it and he or she expects to have good returns,Not having good idea on forex will only lead to looses. What other mistakes do you noticed on on forex trading?

 

[Kingstone]

Of course, you can not venture into a business without knowing the business. It is called suicide. With forex trading, there is no way you can make a profit if you do not know. It is not possible. Even after learning about forex trading, you still need ample time to study it very well with a demo account. But do not get too excited about a demo success. A real account is different. Emotions will kick in when losses start piling up. You have to learn how to control it when you are trading. Forex is a school of no graduation as they used to say.

 

[eldavis]

I think one common mistake traders today make Is over leveraging their accounts and mindless trading. They go into the market anytime they feel like, and trade as much as they want, without following a proper plan or a compound plan.

 

[Setho]

The forex market is a very good way of making money but then some people usually make a couple of mistakes whenever they are trading and it usually cost them a lot of money. One of the mistakes that people make is that they usually try to attach a lot of emotions to trading and that is very wrong because the market was not actually care about what you think. Some people also treat blindly without making any kind of decision and as such they do not apply to write risk management abilities and end up being liquidated by the market.