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  • View Poll Results: Are you making money trading forex?

    Voters
    40. You may not vote on this poll
    • Yes, I am profitable

      20 50.00%
    • No, I am loosing

      7 17.50%
    • I am on the break even

      7 17.50%
    • I am trading only on demo

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    Page 13 of 13 FirstFirst ... 8 11 12 13
    Results 121 to 130 of 130

    Thread: Your main Mistake and how you Fixed it?

    1. #121
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      I have been trading with forex market for more than four years but not regularly. When I don't have time to trade or sit in front the computer then I don't open my trades. I have 150$ in my trading account which is invested about three months ago. I have made 90$ profit by this capital. but I have got 50$ loss in this month and in this week. The main mistake is wrong analysis. I had an idea that eur.usd will come back to high after 1.1820. But it goes so much below of it. So I have got a big loss.


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    3. #122
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      My main mistake was trade in big volume with low investment when continue to face the loss and many time blows up the capital, then understand about the reason and cover it with big investment to resist the market if sudden market volatile without any news or other some reasons so work hard to grow the capital with patience and discipline.


    4. #123
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      I am a high risk trader whether I do scalping or short term trading ( I don't do long term these days). My main mistake is that I hate making a loss, one wrong trade and I start to lose all reason and trade with high risk. It usually recovers the loss, but the stress it brings is considerable and I have been trying to fix it by using lower leverage and risk.


    5. #124
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      I am making good profits and my way of trading is good but it needs some improvements but sometimes I lose because of the small capital, because I make hard work in analyzing and extracting the winning trades but when I see a little profit for my effort I start taking a bigger lot size inorder to make big profit and here the big lot with small capitall remain to loss .


    6. #125
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      My main mistake is to take a small profits but face big losses while i can not control it yet .I close the profitable trades early with a small profits due to fear of loss but i do not close the losing trades at proper time . I wait for the return of the market for a long time but finally close the trades manually on big loss . Now i am trying to remove this mistake by using stop loss and take profit tools .


    7. #126
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      When I was new in forex I won't had any skills and knowledge, then after doing practice and learning this business I find the way that to achieve ultimate success in this market I must have to work on my greed and patience level. This was my main goal when I was newbie in forex.


    8. #127
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      Yes it is true every trader had made a mistake means Forex trading is a business and in business or any work mistakes are often time coming means mistakes or losses is also a part of business and i am also had some mistakes in my trading and with profit also accept losses but i am happy i am profitable trader means more time i win my trades and my trading experience is rising day by day.


    9. #128
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      My biggest problems were two one was i have small caputal but i put heavy lot size i minimize the lot size and results were improved secind sometimes i get emotional and just hurry to trade to fix that i just open the closes history and try to make my mind realize be patience see results where you do hurry and get loses this all what i do and results were improves.
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    10. #129
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      first we have to figure out what is our main mistakes? then trying to fix it now how to fix it? it is depends on your mistakes if you are using big lot or doing greedy trades then you have to make plan and invest 1$ or take 1% risk in one trades then you will able to control on your main mistakes.


    11. #130
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      Top 10 Mistakes Traders Make
      Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing winning trades. In fact, most professional traders will tell you that it's not any specific trading methodologies that make traders successful, but instead it's the overall rules to which those traders strictly adhere that keep them "in the game" long enough to achieve success.

      * The following are 10 of the most prevalent mistakes that traders make in futures trading. They are listed in no particular order of importance:



      1. Failure to have a trading plan in place before a trade is executed.

      A trader with no specific plan of action in place upon entry into a futures trade does not know, among other things, when or where he or she will exit the trade, or about how much money may be made or lost. Traders with no pre-determined trading plan are flying by the seat of their pants, and that's usually a recipe for a "crash and burn."



      2. Inadequate trading assets or improper money management.

      It does not take a fortune to trade futures markets with success. Traders with less than $5,000 in their trading accounts can and do trade futures successfully. And, traders with $50,000 or more in their trading accounts can and do lose it all in a heartbeat. Part of trading successfully boils down to proper money management, and not gunning for those highly risky "home-run" type trades that involve too much trading capital at one time.



      3. Expectations that is too high, too soon.

      Beginning futures traders that expect to quit their "day job" and make good living trading futures in their first few years of trading are usually disappointed. You don't become a successful doctor or lawyer or business owner in the first couple of years of the practice. It takes hard work and perseverance to achieve success in any field of endeavor--and trading futures is no different. Futures trading are not the easy, "get-rich-quick" scheme that a few unsavory characters make it out to be.



      4. Failure to use protective stops.

      Using protective buy stops or sell stops upon entering a trade provide a trader with a good idea of about how much money he or she is risking on that particular trade, should it turn out to be a loser. Protective stops are a good money-management tool, but are not perfect. There are no perfect money-management tools in futures trading.



      5. Lack of "patience" and "discipline."

      While these two virtues are over-worked and very often mentioned when determining what unsuccessful trader's lack, not many will argue with their merits. Indeed. Don't trade just for the sake of trading or just because you haven't traded for a while. Let those very good trading "set-ups" come to you, and then act upon them in a prudent way. The market will do what the market wants to do--and nobody can force the market's hand.



      6. Trading against the trend--or trying to pick tops and bottoms in markets.

      It's human nature to want to buy low and sell high (or sell high and buy low for short-side traders). Unfortunately, that's not at all a proven mean of making profits in futures trading. Top pickers and bottom-pickers usually are trading against the trend, which is a major mistake.



      7. Letting losing positions ride too long.

      Most successful traders will not sit on a losing position very long at all. They'll set a tight protective stop, and if it's hit they'll take their losses (usually minimal) and then move on to the next potential trading set up. Traders, who sit on a losing trade, "hoping" that the market will soon turn around in their favor, are usually doomed.



      8. "Over-trading."

      Trading too many markets at one time is a mistake--especially if you are racking up losses. If trading losses are piling up, it's time to cut back on trading, even though there is the temptation to make more trades to recover the recently lost trading assets. It takes keen focus and concentration to be a successful futures trader. Having "too many irons in the fire" at one time is a mistake.



      9. Failure to accept complete responsibility for your own actions.

      When you have a losing trade or are in a losing streak, don't blame your broker or someone else. You are the one who is responsible for your own success or failure in trading. You make the trading decisions. If you feel you are not in firm control of your own trading, then why do you feel that way? You should make immediate changes that put you in firm control of your own trading destiny.



      10. Not getting a bigger-picture perspective on a market.

      One can look at a daily bar chart and get a shorter-term perspective on a market trend. But a look at the longer-term weekly or monthly chart for that same market can reveal a completely different perspective. It is prudent to examine longer-term charts, for that bigger-picture perspective, when contemplating a trade.
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