Post your Trading Mistake and How you overcame it | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why your broker is your friend and your enemy 8 replies

Post your mistake here - warn others 129 replies

If you love the EUR/JPY and you know it... clap your hands! 851 replies

What was your biggest Forex mistake ? 78 replies

Post your Trading Mistake and How you overcame it

  • #1
  • First Post: Jul 15, 2017 1:59am Jul 15, 2017 1:59am
Hello FF

Form the Beginning of our trading career we make lots of mistake and we overcome most of them. Some mistake are very hard to overcome.

I ask you all level of traders to post their mistake and how they improve them self not repeating mistake again.
I believe if we post mistake and solution it will help others to learn from it.

Learning from own mistake is smart but Learning from other people mistake is wise.
MA provides the market's current direction and strength.
  • #2
  • Jul 15, 2017 2:40am Jul 15, 2017 2:40am
The biggest mistake is to ignore your mistakes, to forget that you made a mistake and how you did it.

Best way to avoid this is to log your mistakes (and your good ones too)
Name your mistakes and group them, analyze them.
This takes some time and work but it has to be done
  • #3
  • Jul 15, 2017 3:07am Jul 15, 2017 3:07am
My BİG mistakes at all trading times,

- impatience
- overtrading ( greedy )

Its all of psychological effects. I took these notes. Then stick on workspace and MT4 graphs. It has been so helpful to me..
Working,to be the best !
  • #4
  • Jul 15, 2017 5:22am Jul 15, 2017 5:22am
I did it a hard and time consuming way.
I repeated the same mistake again and again
till I got disgust of it and never repeated the mistake again.

We change because of inspiration or desperation.
Sadly my change is motivated by desperation.
But good thing is I change
I might be wrong , I have been wrong before
  • #5
  • Jul 15, 2017 11:58am Jul 15, 2017 11:58am
Quoting Mandariin
I did it a hard and time consuming way. I repeated the same mistake again and again till I got disgust of it and never repeated the mistake again. We change because of inspiration or desperation. Sadly my change is motivated by desperation. But good thing is I change
Hi Mandariin. Can you tell us about your mistake and the way you Overcome it.
So that every one can learn from it.
MA provides the market's current direction and strength.
  • #6
  • Jul 15, 2017 12:38pm Jul 15, 2017 12:38pm
Quoting Karpa
The biggest mistake is to ignore your mistakes, to forget that you made a mistake and how you did it. Best way to avoid this is to log your mistakes (and your good ones too) Name your mistakes and group them, analyze them. This takes some time and work but it has to be done
This is so much easier said than done. Care to share some evidence and details on grouping.
Staying in my lane...
  • #7
  • Jul 15, 2017 12:40pm Jul 15, 2017 12:40pm
GOOD TOPIC
Forex Philosopher
  • #8
  • Jul 15, 2017 10:06pm Jul 15, 2017 10:06pm
Quoting hasib
{quote} Hi Mandariin. Can you tell us about your mistake and the way you Overcome it. So that every one can learn from it.
All the common mistakes.
- top picking
- bottom fishing
- adding to the loser
- too big position size
... and so on.

How I overcome ?

I repeated mistake too many time till it hurt too much and stopped doing it.
If you put your hand to fire you learn right a way not to do it again.
But with trading mistakes it take many more repetitions before you learn not to do them again.
I might be wrong , I have been wrong before
  • #9
  • Jul 16, 2017 12:10am Jul 16, 2017 12:10am
Quoting Mandariin
{quote} All the common mistakes. - top picking - bottom fishing - adding to the loser - too big position size ... and so on. How I overcome ? I repeated mistake too many time till it hurt too much and stopped doing it. If you put your hand to fire you learn right a way not to do it again. But with trading mistakes it take many more repetitions before you learn not to do them again.
Adding to the losing trade was my problem too.
MA provides the market's current direction and strength.
  • #10
  • Jul 16, 2017 1:51am Jul 16, 2017 1:51am
My mistakes was too big risk and don't having trade strategy from A to Z. Only A to C.

Many of traders are trading small capital and playing poker - ALL IN and watching what will happen. Lost capital... At first years I tried many strategies and stopped at fibonacci levels - there I can always see when and where to get in and out. Can use math to make strategy and be with positive profit.
BUT anyway at beginning I had risk appetite - keeping trade in news, use fibonacci where its not adequate, lost patience to wait entry, had small capital and after 5 positive trades made 2 more positive trades with ALL IN and then had two negative trades and was at beginning - lost all 7 positive trade profit and get loss of part of capital.
Now I have strategy where I don't care news and trade only fibonacci levels, because many times technical > news. If position size is adequate, trading always is safe.

Main rule - stay with your trade strategy (if you dont have it, write it in details) and better get planing profit than waiting for more green pips and get loss.
  • #11
  • Jul 16, 2017 7:59am Jul 16, 2017 7:59am
Quoting Dream_trader
My mistakes was too big risk and don't having trade strategy from A to Z. Only A to C. Many of traders are trading small capital and playing poker - ALL IN and watching what will happen. Lost capital... At first years I tried many strategies and stopped at fibonacci levels - there I can always see when and where to get in and out. Can use math to make strategy and be with positive profit. BUT anyway at beginning I had risk appetite - keeping trade in news, use fibonacci where its not adequate, lost patience to wait entry, had small capital and after...

I use Ms.excel for writing down all the rules and Money Management procedure. It helps a lot.
MA provides the market's current direction and strength.
  • #12
  • Jul 16, 2017 11:36am Jul 16, 2017 11:36am
Quoting Saygin-TR
My BİG mistakes at all trading times, - impatience - overtrading ( greedy ) Its all of psychological effects. I took these notes. Then stick on workspace and MT4 graphs. It has been so helpful to me..
Greed.
Not paying attention.
Overnight.
Trading sh!t like Aussie, Loonie, pound.
Not setting SL.

Now i trade intraday, close, TP at 15 or 30 pips.
Beware of robber banks (RB), bad advisors.
  • #13
  • Jul 16, 2017 11:39am Jul 16, 2017 11:39am
disappointment/upset
WaBaS Where are Buyers and Sellers
  • #14
  • Jul 16, 2017 11:48am Jul 16, 2017 11:48am
My trading mistake is
#1 Not using Sl
#2 Confusing (the big mistake I think)
#3 Changing direction ( ex: I have a plan to go long but instead I go short)
Note: I am not a Sl fan. Many big traders use stop loss and many use it sometimes but not in every trade. Why don't they not use it because they know what they do and when they put Sl they calculate it properly using ATR etc, that's why they don't caught by sl. But from my 4 months experience I can say SL is my best friend. Why? Because I just trade without putting sl in only two trade and blow my account almost. I have proof if someone want proof send me a private message I will send you proof.
  • #15
  • Jul 16, 2017 11:49am Jul 16, 2017 11:49am
My big mistake is I am an aggressive and angry person and always fight with the market and loss money, I knew I will never be a trader so I changed to EAs developer.

Regards
  • #16
  • Jul 16, 2017 11:55am Jul 16, 2017 11:55am
Good topic! My Trade Journal has charts of my trades, a description of each trade, and daily reviews of what went well, and the many things I'm working to improve. When I committed to publishing a chart and description of all my trades, that reduced my tendency to overtrade and revenge trade. And being published on FF for all to see and judge is another incentive to trade carefully.
  • #17
  • Jul 16, 2017 12:10pm Jul 16, 2017 12:10pm
- ignoring training in trading simulators / starting training in simulators
- all pairs have the same behaviour / they dont have, it is more like different groups of similiar pairs
- when I start adding into losing pairs, retracement must come / margin call sniper is waiting for this, add only few trades and calculate risk
- without SL I am always right / no, SL confirm that I did mistake
- multiplicating lots after losing trade is win / no, good is multiplicating only few times (2-3x) and than stop with this and accepting loss
- it is the same when I open 1 lot with GBPJPY as 1 lot with EURUSD and set the same level of SL/TP / not, each pair have different ADR and you need calculate right levels for each pair
- hedging is way / yes it is way, but into hell
- selling tops and buying bottoms at H4 and close it in profit at M15 and in loss at D1 / the opposite is better
- looking for holly grail indicator or EA / there is nothing and when somebody claims you he have something and want sell you - it is BS
- trading breakouts / the same probability as retracement
- filtering signals with tons of indicators / 2 MAs in higher TF are enough to be profitable
- cooperating with somebody / no way, each have different sight on situation in trading
- trusting somebody in forex / in forex never again, trust only yourself but dont fool yourself (maybe the hardest one)
- and many others
......
  • #18
  • Jul 16, 2017 1:06pm Jul 16, 2017 1:06pm
Quoting VEEFX
{quote} This is so much easier said than done. Care to share some evidence and details on grouping.
Sure, I'll try to be short b/c there's much to say

Watch and wait for your entry criterion / triggers /whatever

Right after entry, write it down on a log form you created:
Date/time - pair - price - size - entry criteria - bought/sold - target/RR expected - exit criteria - target/RR achieved - Trade overview - etc - etc

Criteria and Trade overview should be consistent names you could later group and analyze your results, using a spreadsheet

As for evidence, assume this is a new indicator you've never used and test it like any other indicator
  • #19
  • Jul 16, 2017 2:46pm Jul 16, 2017 2:46pm
After all this work (logging and analyzing) one should be able to identify the good and the bad trades, why and why not

If one aspires to become a professional trader (obtain income throu trading), it's up to the pro to eliminate the bad ones and improve on the good ones - this is normally a psychological matter and here is where one realizes if he is meant to be a pro trader or not.
  • #20
  • Jul 16, 2017 6:10pm Jul 16, 2017 6:10pm
Quoting Karpa
{quote} Sure, I'll try to be short b/c there's much to say Watch and wait for your entry criterion / triggers /whatever Right after entry, write it down on a log form you created: Date/time - pair - price - size - entry criteria - bought/sold - target/RR expected - exit criteria - target/RR achieved - Trade overview - etc - etc Criteria and Trade overview should be consistent names you could later group and analyze your results, using a spreadsheet As for evidence, assume this is a new indicator you've never used and test it like any other indicator...
So, more talk instead of showing us the specifics and factual evidence of what "YOU" do. All this psychological mumbo jumbo sounds great to preach but VERY LIMITED NUMBER OF HUMAN BEINGS CAN DO THIS FOR 2+ YEARS let alone their entire trading career.

Challenge#3:
Show me one trader out there who is maintaining a daily log of his/her trading mistakes for a minimum of 3 years!
Staying in my lane...
0 traders viewing now