We will not be far from the truth if we say that all traders, even the most experienced, at some time in their careers have made mistakes and fell into traps. In this lesson we will talk you of mistakes, and most common traps that are made by traders and that are the cause of their failures in the markets.
Do not use stop loss.
Many forex traders do not use Stop. Most trader use the argument that if they do not use the stop, the money will return to their initial entry. But as the forex market is not predictable, the trader may not have enough capital in your account to wait until the currency pairs, finally, back to the previous level. There are no excuses for not using Stop. If you do not use Stop Loss, you run the risk of losing the control of your transaction.
Unrealistic expectations.
If you think you will have a return as soon as you enter the forex market is better to give up. Many anxious traders enter the forex market expecting an immediate return on their investment, but the forex does not work like that. It takes a lot of study and patience to start to get a reasonable return on the market.
Use real money to trading from the start
Much of traders, cannot resist the desire to start investing real money, before training on a demo account.
This error causes the trader who has no knowledge of how to operate in the forex market, lost much of his money, or even all the money.
Rush in operations.
Many investors apply the entire share capital and end up paying the toll of learning, with the initial losses. There are simulators that provide experience to the investor without such initial losses. Then it is recommended to gradually increase the exposure in stocks.
Do not use stop loss.
Many forex traders do not use Stop. Most trader use the argument that if they do not use the stop, the money will return to their initial entry. But as the forex market is not predictable, the trader may not have enough capital in your account to wait until the currency pairs, finally, back to the previous level. There are no excuses for not using Stop. If you do not use Stop Loss, you run the risk of losing the control of your transaction.
Unrealistic expectations.
If you think you will have a return as soon as you enter the forex market is better to give up. Many anxious traders enter the forex market expecting an immediate return on their investment, but the forex does not work like that. It takes a lot of study and patience to start to get a reasonable return on the market.
Use real money to trading from the start
Much of traders, cannot resist the desire to start investing real money, before training on a demo account.
This error causes the trader who has no knowledge of how to operate in the forex market, lost much of his money, or even all the money.
Rush in operations.
Many investors apply the entire share capital and end up paying the toll of learning, with the initial losses. There are simulators that provide experience to the investor without such initial losses. Then it is recommended to gradually increase the exposure in stocks.
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