Do You Make Any of These 7 Trading Mistakes? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

VennD - Any Pairs - Any Style - Any Time 741 replies

How much do you want to make and why do you want to make it 17 replies

3 Mistakes you make over and over again... 23 replies

Crazy/Stupid mistakes you committed during trading 91 replies

Have any of you guys used these Brokers before? 4 replies

Attachments: Do You Make Any of These 7 Trading Mistakes?
Exit Attachments

Do You Make Any of These 7 Trading Mistakes?

  • Poll

  • Do You Make Any of These 7 Trading Mistakes?
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  • #1
  • First Post: Aug 23, 2015 9:22pm Aug 23, 2015 9:22pm
1. Trading Too Much

2. Changing Strategies Often

3. Letting Fear Dictate Your Trading Decisions

5. Trying to Control the Market

6. Risking Too Much on a Trade

7. Quitting

Please Vote Above.
  • #2
  • Aug 23, 2015 9:25pm Aug 23, 2015 9:25pm
Please Vote.
  • #3
  • Aug 23, 2015 10:48pm Aug 23, 2015 10:48pm
Not convinced if Quitting is necessarily a mistake. Possibly the best option for some - depending on personal circumstances and commitment requirements.
  • #4
  • Aug 24, 2015 6:10am Aug 24, 2015 6:10am
Quoting KoiFish
Not convinced if Quitting is necessarily a mistake. Possibly the best option for some - depending on personal circumstances and commitment requirements.
true
  • #5
  • Aug 25, 2015 10:40am Aug 25, 2015 10:40am
Vote!
  • #6
  • Aug 25, 2015 10:34pm Aug 25, 2015 10:34pm
My vote cast, would be option 3.Sometimes I find my self allowing fear and emotions down play me in my trading decisions,The good thing is I have learnt how to control these emotions, this is what I go by ''Having confidence in your plan will help keep you calm under pressure.''
  • #7
  • Aug 26, 2015 12:47am Aug 26, 2015 12:47am
Quoting Ese121
My vote cast, would be option 3.Sometimes I find my self allowing fear and emotions down play me in my trading decisions,The good thing is I have learnt how to control these emotions, this is what I go by ''Having confidence in your plan will help keep you calm under pressure.''
  • #8
  • Aug 27, 2015 7:06am Aug 27, 2015 7:06am
i made them all when i first started
  • #9
  • Aug 27, 2015 7:31am Aug 27, 2015 7:31am
Quote
Changing Strategies Often


Personally i dont consider this a mistake PT. Yes, i might have changed some profitable strategies into losing ones occasionally but with each strategy and new experiments i gained little chunks of information each time; a losing strategy can still have a small edge within that can easily be overlooked. Changing strategies is part of the game in order to be succesful in my opinion, it enables one to have a flexible mindset (able to adjust to circumstances), much needed in a dynamic everchanging market.

It is however a different story if the trader changes his/her strategy on a regular basis after just one or two losing trades. Accepting losses is part of the game too..
  • #10
  • Aug 27, 2015 9:53am Aug 27, 2015 9:53am
Quoting Robertk
{quote} Personally i dont consider this a mistake PT. Yes, i might have changed some profitable strategies into losing ones occasionally but with each strategy and new experiments i gained little chunks of information each time; a losing strategy can still have a small edge within that can easily be overlooked. Changing strategies is part of the game in order to be succesful in my opinion, it enables one to have a flexible mindset (able to adjust to circumstances), much needed in a dynamic everchanging market. It is however a different story if...
i don't think changing strategies if it was working is a mistake, but keep changing strategies without being succesful in any them is the mistake
  • #11
  • Sep 6, 2015 9:35pm Sep 6, 2015 9:35pm
  • #12
  • Sep 6, 2015 10:01pm Sep 6, 2015 10:01pm
Have been through all of 7...
patience is a virtue
  • #13
  • Sep 6, 2015 10:05pm Sep 6, 2015 10:05pm
Quoting PoundTrader
3. Letting Fear Dictate Your Trading Decisions
That's me right there. Taking profits too early.
The only time I ever hit my set take profits is if I don't look at the trades for a few hours or if I leave a trade on overnight lol

Hmm... I may have just figured out a solution for my own problem there

But easier said than done haha
  • #14
  • Sep 6, 2015 10:26pm Sep 6, 2015 10:26pm
Quoting Dimi.A
{quote} That's me right there. Taking profits too early. The only time I ever hit my set take profits is if I don't look at the trades for a few hours or if I leave a trade on overnight lol Hmm... I may have just figured out a solution for my own problem there But easier said than done haha
been there done that
  • #15
  • Sep 7, 2015 12:19am Sep 7, 2015 12:19am
Well, what I can say is that your mental capability really dictates your profitability in trading the forex market, as far as my experiences goes it happened so many times.
  • #16
  • Sep 7, 2015 12:26am Sep 7, 2015 12:26am
I'm not sure how/why "trading to much" is a mistake.
Anyway, sometimes I quit because I'm afraid, so I voted 3 and 7.
Attached Image

There's some wisdom in Yoda's words
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #17
  • Nov 15, 2015 7:45am Nov 15, 2015 7:45am
  • #18
  • Nov 15, 2015 12:35pm Nov 15, 2015 12:35pm
1,3,4,6. 2 was fixed recently (last 6 months) and about to fix 6 soon. 5&7 were never an issue. 1 I can't fix because I scalp whenever I have a chart in front.
  • #19
  • Nov 16, 2015 8:04am Nov 16, 2015 8:04am
I want to mention #1. 'Trading too much' is not a clear concept.
For someone trade too much is every day. For other people, it's scalping.
There may be several options.
  • #20
  • Nov 16, 2015 8:22am Nov 16, 2015 8:22am
Quoting BalenC
I want to mention #1. 'Trading too much' is not a clear concept. For someone trade too much is every day. For other people, it's scalping. There may be several options.
For any mode--scalping, day, swing, etc--there is a level that is 'too much', an indication that a trader is pushing too hard.
0 traders viewing now