Do you also make these trading mistakes, find solutions here
April 12, 2018 at 1:45 pm #1590Vicky LeanParticipant
Trading can definitely frustrate you but it wouldn’t be frustrating all the time. There will be good times in trading as well. You will enjoy profitable trades. You will witness development in your trading journey. However, if we think about the frustrating times in the Forex market there are many common situations that frustrate the traders. You’d wonder whether Australian traders are also facing the same issues, well, they would have faced these issues when they were budding traders. They would have found solutions to their problems. Most of the frustrating situations occur due to your own mistakes. There are some trading mistakes that can be avoided by the traders. If you had entered into a trade that you did not analyze well, then it may turn out as a loss and of course, it will be frustrating. But isn’t that your mistake? You did not take some time to analyze the trade? Similarly, there are many mistakes that a trader makes due to being reckless in trading. Losses are painful you may never want to face loss although it is impossible. So if you hate losses so much, isn’t it your duty to learn to avoid the mistakes? Let’s correct our mistakes by finding solutions here.
Learning from your trading mistakes is the best way to improve your trading skills. So what is the best way to find your faults? You have to maintain a trading journal so that you can assess your trade history. Write down the details of each trade so that you can easily find out the major faults in your system.
What are you going to get by “thinking”
Well, thinking is never a solution. Don’t ever call it a solution for any of your problems. Let it be the trading problem or life problem. It will never bring peace to your mind. In Forex trading, most traders think way too much. Even before they enter a trade they think about the aftereffects. Definitely, it is really important to worry about the aftereffects but it shouldn’t be too much. When you spend much time in analyzing the market it leads to something that never existed. You may even create something that never was. Over-thinking kills and ruins your journey completely. If you want to see yourself as a great trader at the end of the road you should stop “thinking” right now! By thinking too much you will never achieve anything. The solution to your over thinking problem is to create a successful trading plan. Keep everything simple when you are trading. Once you make a decision don’t doubt your decision also, if it goes wrong remember, you learn when you go wrong.
Why are you risking if you are not ready
There are many traders who risk when they are even not ready to risk that amount, so it leads to a stressful situation. They may enter into a trade by risking way too much and they will spend the entire time in front of the computer (not so healthy). If you want to become a pro trader it is important to have self-control. If you are not confident in your decisions the whole journey becomes unstable. So the solution to your problem of risking a lot is to know the amount that you are comfortable with. In order to manage your trading emotions, you should risk the amount you are ready to lose.
Is money EVERYTHING
Of course, money is everything. There is nothing you could do in this world without money. But to earn money you should know the proper methods. If you are entering Forex just with the intention of making money, then you are making a mistake. If you want to earn money you should know the way. You should take time to train yourself. Don’t run after money if you do not know the route.
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