Do You Make Any of These 7 Trading Mistakes? | Page 2 | Forex Factory

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Do You Make Any of These 7 Trading Mistakes?

  • #21
  • Nov 16, 2015 8:37am Nov 16, 2015 8:37am
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.
That's a very good point! Trading frequency is almost irrelevant when you have real edge and know what you are doing.
For the profitable trader More trades = more money faster.
For the novice trader .......more trades = disaster.
I personally, in some days can make over 30 trades, in other days 0 trades. When there is no good opportunities - don't trade!
As far as the mistakes (in the poll), I'm somehow past this stage........ but I definitely trade too big sometimes, So yes number 6 (Risking Too Much on a Trade). That's me. When I see a very good opportunity I just ramp up the lots until I freak out. Then i have to scale out.....
  • #22
  • Nov 16, 2015 8:53am Nov 16, 2015 8:53am
Quoting timingchain
{quote} For any mode--scalping, day, swing, etc--there is a level that is 'too much', an indication that a trader is pushing too hard.
Yep, but that one is too pressing for another routine. The trader himself may not realize that making a mistake.
  • #23
  • Nov 16, 2015 9:06am Nov 16, 2015 9:06am
Quoting alphaomega
{quote} That's a very good point! Trading frequency is almost irrelevant when you have real edge and know what you are doing. For the profitable trader More trades = more money faster. For the novice trader .......more trades = disaster. I personally, in some days can make over 30 trades, in other days 0 trades. When there is no good opportunities - don't trade! As far as the mistakes (in the poll), I'm somehow past this stage........ but I definitely trade too big sometimes, So yes number 6 (Risking Too Much on a Trade). That's me. When I see a...
That's for sure.
I think we are all sinners in each of the points from time to time.
Regarding the first point, you mentioned the nuances as I expected, but I wanted to understand what you have in mind, same like me or not...
Patience and success in trading.
  • #24
  • Nov 16, 2015 5:29pm Nov 16, 2015 5:29pm
Quoting PoundTrader
i made them all when i first started
i made them all too
thank you and have a nice day
focus while relaxed to see better
  • #25
  • Nov 16, 2015 7:04pm Nov 16, 2015 7:04pm
1. trade too much.
this means you take every entry signal, no matter what risks you are going to take, no matter what is the market condition.
as a matter of fact, a lot of system can filter out some poor entries. but can you be patient enough or disciplined enough ?
itchy fingers always whispering on your ear.
2.changing strategies too often
every system/strgegy has its own flaws. there is a period of time, your system will generate a lot of losses, a lot of draw downs.
you are losing confidence or not ? you are believing the market have changed ? and you are going to change your system to adapt ?
then you are trapped in circles, changing from one to an other, and finnally finds all strategies are same.
3.Letting Fear Dictate Your Trading Decisions
fear is a common emotion of every body. sometimes fear is good, fear will tell where your limit is. when facing a losing streak, fear is taking over
how to deal with fear ? it is just like a child afraid of darkness, it needs time and tramendous courage to overcome.
5.Trying to Control the Market
when you are finally make consistent profit, when you have great success. that is when you forget who you are.
that is when you think you can predict the market, when you think you can even lead the market.
and that is when the root of failure begins to grow.
always repspect and awed to market.
patience is a virtue
  • #26
  • Last Post: Nov 17, 2015 8:38am Nov 17, 2015 8:38am
Quoting orabi
{quote} i made them all too thank you and have a nice day
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