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  • Post #61
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  • Dec 31, 2020 4:33am Dec 31, 2020 4:33am
  •  Robertstarc
  • | Additional Username | Joined Jan 2020 | 265 Posts
It is very important to follow the trend. Failure to follow the trend can lead to a loss. When I open a trade, the trade makes a profit of 20 pips and brings the stop loss to the entry point. If the price is ever volatile, I will not have any loss. Another thing is that when I see the market volatile, I close my trade.
  • Post #62
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  • Jan 1, 2021 10:19am Jan 1, 2021 10:19am
  •  mlawson71
  • | Additional Username | Joined Dec 2015 | 3,529 Posts
Quoting HisaoFujioka
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{quote} Only Holy Grails is skills and experience. One needs to be very much skilled in analysis and mind control. Otherwise it's not possible to make money here.
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I really could not have put it better.
The only thing that I'd add is that one also needs a properly regulated broker.
  • Post #63
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  • Jan 1, 2021 11:41pm Jan 1, 2021 11:41pm
  •  littlebirds
  • | Commercial Member | Joined Dec 2020 | 25 Posts
Quoting mlawson71
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{quote} I really could not have put it better. The only thing that I'd add is that one also needs a properly regulated broker.
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Agreed! I always made sure that people should opt for the regulated broker so that you never have to face any issues when it comes to trading conditions, and safety of funds.
Also proper understanding on forex trading is helpful, but I guess experience counts as that.
  • Post #64
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  • Jan 4, 2021 2:19pm Jan 4, 2021 2:19pm
  •  OwenBavin
  • | Additional Username | Joined Jul 2020 | 135 Posts
Trading in the market with emotion can be very dangerous. If you want to become a good trader you have to control your emotions. You can control your emotions by practicing on a demo account more and more. It will help you to get confidence and trade fearlessly.
  • Post #65
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  • Jan 5, 2021 5:23pm Jan 5, 2021 5:23pm
  •  OleOle
  • | Joined Jan 2021 | Status: Junior Member | 4 Posts
Being over leveraged and deep into your funds will give you as close a feeling to a panic attack without having one as possible, would not advise, thinking I was better then a SL too, also a big mistake. Im still terrible but expensive lesson learnt
  • Post #66
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  • Jan 6, 2021 2:00am Jan 6, 2021 2:00am
  •  MarkFxAnde
  • | Additional Username | Joined Mar 2016 | 641 Posts
honestly speaking there is no way to avoid mistake in spite of having good knowledge and experience , but we have to remember that if we do same mistake again and again then its not a mistake, its a own choice that already made as a bad trading habit.
  • Post #67
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  • Last Post: Jan 9, 2021 10:36am Jan 9, 2021 10:36am
  •  Sajar
  • | Joined Nov 2019 | Status: Member | 43 Posts
Rookie mistake that the most of them make is to think that forex is a very profitable business where they can earn so much money in a short time and without having to do much. Some of them take it that way even after they join and it is because they join forex through brokers that make them think that way and they are not provide witt he knowledge they need to understand what forex is really about. Things the go and for them when they trade without knowing everything and they lose more that they gian until they blow all their money or they give up after some time. That is when the true meaning of forex trading come in and most of them open their eyes.
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