Common mistakes in trading forex
Hi Sir/Madam,
Straight into it.
We will get into the common mistakes made by those who are trading forex.
- Trading based on speculation and not based on logical understanding of the markets.
- Trading based on emotional impulse or based upon what others are telling you and not thinking independently about the process of trading.
- Not staying focused on the end target when it comes to trading.
- Risking too much, when you only have a certain amount.
5. Following the crowd, instead on doing independent research and learning constantly.
6. Not cutting losses at the right time, timing it wrong.
7. Going in unprepared and unfocused.
8. Lack of proper tools and understanding before trading in the markets.
9. Being lazy in doing your research about the markets, in order to attain success within trading.
10. Trading with no exit plan.
11. Trading too much in too short of a time period, rushing the process.
12. Not leaving your emotions at the door when it comes to trading, this is a business in which you need to be purely rational and logical in your approach.
13. Not putting in the correct effort needed pre trading.
14. Assuming and speculating, instead of putting in the time to understand the markets based upon rational logic and understanding.
15. Trading without a plan and trying to cut corners, the process requires discipline and patience.
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Thank you for reading and have a fantastic day ahead.
Regards,
Jagdip
