3 Mistakes you make over and over again... | Forex Factory

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3 Mistakes you make over and over again...

  • Poll

  • When you mess up its usually because of
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  • #1
  • First Post: Edited Jun 17, 2016 3:45am Jun 8, 2016 11:50pm | Edited Jun 17, 2016 3:45am
Lets hear it...


Inserted Video
Time hides Nothing
  • #2
  • Jun 9, 2016 4:06am Jun 9, 2016 4:06am
1) Overtrading
2) Overtrading
3) Overtrading
Lose professionally
  • #3
  • Jun 9, 2016 4:55am Jun 9, 2016 4:55am
I'll be on twitter and someone I'm following will tweet something. Then I let the tweet influence me, and it will spook me out of a position I'm in. Or I'll find myself in some DAX trade based off some harmonic bullshit because it looks like a bat or a butterfly or something stupid. I should probably just close my twitter account actually.
  • #4
  • Jun 9, 2016 10:47am Jun 9, 2016 10:47am
Log in FF
  • #5
  • Jun 9, 2016 10:51am Jun 9, 2016 10:51am

  1. Tighten stops too soon...market takes my stop then continues to my target without me.
  2. Stop and reverse at stop... Related to #1
  3. Try to predict where or when the price will go... I'm finally getting better at this.

@xxxx§|[::::::::::::::::>
  • #6
  • Jun 9, 2016 11:04am Jun 9, 2016 11:04am
Quoting AlansGS777
Log in FF
Exactly!
And this is a typical Thread in order to create more traffic for the FF owner.
  • #7
  • Jun 9, 2016 7:22pm Jun 9, 2016 7:22pm
Quoting mvp77
{quote} Exactly! And this is a typical Thread in order to create more traffic for the FF owner.
Are you suggesting I made this thread to generate traffic for FF?

well its not true, just thought it might be interesting.
Time hides Nothing
  • #8
  • Jun 15, 2016 5:13am Jun 15, 2016 5:13am
Quoting CindyXXXX
{quote} Are you suggesting I made this thread to generate traffic for FF? well its not true, just thought it might be interesting.
I don't think you made this thread to generate traffic for FF. That sounds completely ridiculous to me. I like this thread because I always make mistakes.
I enter trades too early/late and therefore don't place my stops correctly.
I start drawing trend lines and connect them up to make interesting formations which I believe have magic powers and trade on them.
I get scared. Scared to enter positions because of what Central Banks might do. Scared to let trades run their course for fear of giving back money to the market.
I recently started keeping a journal of all my mistakes.
  • #9
  • Jun 15, 2016 9:15am Jun 15, 2016 9:15am
Quoting KoiFish
{quote} I don't think you made this thread to generate traffic for FF. That sounds completely ridiculous to me. I like this thread because I always make mistakes. I enter trades too early/late and therefore don't place my stops correctly. I start drawing trend lines and connect them up to make interesting formations which I believe have magic powers and trade on them. I get scared. Scared to enter positions because of what Central Banks might do. Scared to let trades run their course for fear of giving back money to the market. I recently started...
Thanks, yes well I figured with enough responses it would reveal some important things about the market. After trading for 8 years I already have a good clue what the responses would be, but anyway forgive me for trying =P

I get lured into chop (even when i know its coming)
I chase the market (wrong when I'm right)
I cut winners too early (Skew the R multiple)

feels weird writing it out like that for everyone to see. I can see why there is not much interest in this thread ahah. Like confession church.
Time hides Nothing
  • #10
  • Jun 16, 2016 10:48pm Jun 16, 2016 10:48pm
its in our nature to make the same mistakes over and over, how many times have we said or heard "after the night before" "never again" and how many times has never again happened? trading has to be treated like bomb disposal, and you must think careful as in one mistake it can be all over, having said that when things go bang for me the urge to get back in and correct the mistake and make up lost ground has been the personality flaw most difficult to overcome, for whatever reason the whole risk perspective seems to change....for the worse.
  • #11
  • Jun 16, 2016 11:16pm Jun 16, 2016 11:16pm
Quoting CindyXXXX
{quote} Thanks, yes well I figured with enough responses it would reveal some important things about the market. After trading for 8 years I already have a good clue what the responses would be, but anyway forgive me for trying =P I get lured into chop (even when i know its coming) I chase the market (wrong when I'm right) I cut winners too early (Skew the R multiple) feels weird writing it out like that for everyone to see. I can see why there is not much interest in this thread ahah. Like confession church.
Forgive me father for I have sinned.
You are forgiven, but say 3 hail Dollars, Euros, pounds or yen and give up another $500.
But I will keep on sinning - is there no redemption?
NO.
  • #12
  • Jun 16, 2016 11:35pm Jun 16, 2016 11:35pm
Trading to large a lot size is my biggest mistake
  • #13
  • Jun 17, 2016 3:42am Jun 17, 2016 3:42am
Quoting qp2
its in our nature to make the same mistakes over and over, how many times have we said or heard "after the night before" "never again" and how many times has never again happened? trading has to be treated like bomb disposal, and you must think careful as in one mistake it can be all over, having said that when things go bang for me the urge to get back in and correct the mistake and make up lost ground has been the personality flaw most difficult to overcome, for whatever reason the whole risk perspective seems to change....for the worse.
That's exactly right, when you can see the trade you realize the real trade is as much the market as it is yourself and then you see why its virtually impossible from the outset for anyone to succeed in the markets with conventional wisdom (the mass media and ideology of trading). But you cannot have one without the other. You need your edge and you need yourself. The market by design is to put these 2 entities at war constantly. Imagine a cart where the left wheel turns opposite to the right wheel.

Its important but easier said than done to consciously monitor the mistakes you make over and over. They become a signal in themselves. But this is lost on most who see the market as a chapter, when its really a book.
Time hides Nothing
  • #14
  • Jun 17, 2016 3:58am Jun 17, 2016 3:58am
3 gold rules :
- waiting for signal
- be patient...very patient
- be disciplined (respect the 2 prec rules)

any offense of one this rule will cause disaster...

respect theses ruels and performance will follow !
  • #15
  • Jun 17, 2016 4:01am Jun 17, 2016 4:01am
Let the last win/loss influence my mindset on the next trade
Accept that, no matter the system, some days are better spent outside - learn to identify the right time(s) to trade and focus 100% on the task at hand
Be honest with myself - every loss is my fault, not market conditions/evil broker etc...
  • #16
  • Jun 17, 2016 4:41am Jun 17, 2016 4:41am
I've added a poll .Its anonymous.. I wont reply to any answers on the thread because there's no need to. But thank you for your participation, it immediately puts you in some percentile
Time hides Nothing
  • #17
  • Jun 17, 2016 9:54am Jun 17, 2016 9:54am
Quoting qp2
its in our nature to make the same mistakes over and over, how many times have we said or heard "after the night before" "never again" and how many times has never again happened? trading has to be treated like bomb disposal, and you must think careful as in one mistake it can be all over, having said that when things go bang for me the urge to get back in and correct the mistake and make up lost ground has been the personality flaw most difficult to overcome, for whatever reason the whole risk perspective seems to change....for the worse.
yep. too much emotion/psychology involved. need to drugs to switch off emotions

like one day i do 1 trade and lose, and feel rubbish. then i feel like i need to recover from this. do another trade. lose again lol
  • #18
  • Jun 17, 2016 9:56am Jun 17, 2016 9:56am
Quoting mozart4646
Trading to large a lot size is my biggest mistake
yep have been there. then you have to decide, should i use the same large lot to try recover the money.

or do i slowly try to recover by doing 10 winning trades lol. this is the worst scenario/feeling for me. thats why i will always try to trade small, 2% account size trades.
  • #19
  • Jun 26, 2016 11:04pm Jun 26, 2016 11:04pm
over-trading is a disease that harm trader. the market is difficult to predict and therefore, we need to be able to minimize over-trading. many traders lose because trying to trade with over therefore, we need to be able to minimize over-trading to try to trade using MM and RM good
  • #20
  • Aug 31, 2016 7:26am Aug 31, 2016 7:26am
1) Rush in
2) Rush out
3) Not it right place at right time
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