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

  • Poll

  • Do You Make Any of These 7 Trading Mistakes?
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  • Post #1
  • Quote
  • First Post: Aug 23, 2015 10:22pm Aug 23, 2015 10:22pm
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.
Please Vote.
Not convinced if Quitting is necessarily a mistake. Possibly the best option for some - depending on personal circumstances and commitment requirements.
Quoting KoiFish
Not convinced if Quitting is necessarily a mistake. Possibly the best option for some - depending on personal circumstances and commitment requirements.
true
Vote!
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.''
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.''
i made them all when i first started
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..
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
Have been through all of 7...
patience is a virtue
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
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
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.
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/
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.
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.
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.
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