We always make many mistakes in the progress of trading, but these are not supposed to make us feel any form of discouragement in this market, when you have made a mistake which could be about trading without discipline, you can immediately direct this mistake into a benefit through the way that you discovered, this means that whenever someone is going through a losing type of experience, there are probably many things that we would not understand, if trading mistakes are not corrected immediately, we have to change the approach if not we will face losses that can bring so much pain and disappointment. If you are not patience, you must always consistent trading without success.
There are many mistakes that's trader can make in the forex trading market and over trading can be a serious problem for a trader, though this basically happen to traders that trade base on the smaller time frame, this time frame are known to be giving out signals very often and some sometimes are fake.
But for me there are more trading mistakes that are even much bigger than over trading such as greed, with greed we can easily loose our trading capital even when we don't seems to over trade, being greedy means opening position with higher lot size, so with just a single mistakes we can loose all our capital.
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The Trader's Biggest Mistake Is Over Trading? Many mistakes that can lead to losses in Forex trading are common among traders and with careless traders ,they do repeat themselves . Most of these mistakes made are not deliberate but comes as a result of lack of wisdom to profit from Forex market and retain your profit .
The correct application of your knowledge is wisdom ,hence I want to believe that it is this wisdom that is missing . Over-trading is just one of these mistakes ,but I found it extremely difficult to believe that overtrading is the biggest mistake . If per adventure ,your overtrading is fetching you profit ,do you call that a mistake ? This is the reason why I say what is missing is the wisdom to profit from the market .
Many of the traders are making wrong trade and losing their money everyday. Although they are following different technical and fundamental support and resistance but they are losing. Many reasons behind this losing like Unskilled trading, over trading, trading without following market flow, trading without following basic trading conditions etc.
So, over trading is one of the reason from many and traders done this over trading in two times:-
1. More Profitable Trade:- It is one of the two reasons that trader do over trade when they are making more profitable trade. But they should maintain the way that when he should start the trade and it should be stop. Because it could make you greedy.
2. More losing in Trade:- Traders have tendency to trade more and more while he is losing. It happens because of trade addiction and turns the traders into gambling. So, traders should avoid it to safe from huge loss!!
Over Trading is the biggest challenge that we
must seek to solve because when we do not do this
then we are trying to say that we can handle the
losses that we could experience, when someone is
into this market consistently without some
control, it is obvious that the person has not
learnt anything because from the way i see it,
over trading can be handled only when we are
disciplined, there are some trades that we are
not supposed to enter but because we have seen
that they look interesting we enter because we
cannot wait, these are the types of opportunities
that automatically make us profitable, when we
trade and there are some things that are not so
clear, we are meant to understand them
Over trading is a very serious spring drunk by traders especially recent traders. The question of over trading cut water from deficiency of undergo. An inexperienced trader will over commerce by beginning a lot of trading all at once hoping to find all the pips in the market. These type of bungler trading can be termed to be over trading. Also rapacity can precedence to over trading,so a trader should stick to his trading irrespective of how promising the trading turn after trading for the age. Over trading often leads to privation of chief and even loss of interest in trading. So on the trader's issue it is pick to take a step at a tense to eschew blustery up all the trading chief. It is considerable to take measures that would help to curb over trading such as venture charge and rhino guidance. Over trading prepare in as a effect of greediness and indiscipline.The utmost passage to handle this is by holding a trading diary where all jobbing activities are recorded and valuation spelling.
The Trader's Biggest Mistake Is Over Trading?
Over Trading is a very major concern that we are suppose to have as Forex Traders, when someone cannot exhibit control over the appetite that he has to consistently trade in the Forex market, that could potentially be responsible for his exit from this business, I believe that success has something to do with self control, unfortunately the amount of money that has been lost because we cannot control ourselves is much, trading consistently is the main challenge that we face as traders, until we can understand what is responsible for our challenge and do away with it, there is nothing that can suggest that we will become professionally qualified for this market, trading is good but when it has become over trading then we have a very big problem at hand. Using this means we don't want to be profitable at all.
USD/JPY: Elliott wave analysis and forecast for 23/08/2019 – 30/08/2019
The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 106.15.
Main scenario: long positions will be relevant from corrections above the level of 106.15 with a target of 107.67 – 108.43.
Alternative scenario: Breakout and consolidation below the level of 106.15 will allow the pair to continue declining to the levels of 104.00 – 103.00.
Over trading and impatience are the most common mistakes that beginner and oldies do. What we can do is wait for the best market to come. We can make successful trade by doing patience and not to over trade. In this business is all about probability. We can have more chance to win if we trade on the market that we understand its movement. If we don't understand its movement then we need to stay away from trading. To get succeed in this business, we must follow professional traders do. We need to be positive all the time in trading.Learning from mistakes are really important. Anything can happen in this business so we need to be prepared for it. I wish you the best and good luck for your trading.
Over Trading will not make you earn better in the first place, what this will create for you is more losses, when we don't want to be rational when trading, we take many opportunities and then we are unable to handle them, this is where our emotions will automatically jump into the market and the amount of money we are trading with can just disappear as though we never had anything, over trading is somehow relative to the strategy we are using, a trader who is scalping will think that getting multiple opportunities is a blessing, unfortunately this is the trap that gives over trading the chance to drain our account, we must remove ourselves from this type of habit, it never goes well at the end for anyone.