What was your biggest Forex mistake ?

[speso]

Telling my mom in law what I'm busy with and why I don't like office slavery some more.

[pilamixu]

Telling my mother in law what I'm busy with and why I really don't like office captivity any more. Oh man! Ouch! That's bad.

[jokolemo81]

telling my mom in law what I'm occupied with and I don't like office slavery any more. Wow, using bravery like that, you could do well in this enterprise.

[MokxX1415]

When I started trading roughly 7 years ago I made a few profitable trades, a couple of losers and then lost total faith in the trading nude egy and went searching for the answers in forums such as the Trading System discovered here on FF.

That's most definitely my biggest mistake, like I have wasted my time with various systems over the years only to wind up back at square one and creating a profit with the nude egy. This time around I've got a lot more faith in the long-term profitability of this egy and may (relatively) happily suffer a couple of bad transactions as I go along.

[Aleex813]

1)triumph with small lots,
shed with big lots.

Two )over confident with the signal given.

3)Always follow majority.

[Pemgigok85]

I had been analyzing a scalping egy on demonion for a month when I got a signal in the middle of night 2am EST..
In my mindnight haze I did not realize that I was logged in to the live account, not demonion. Possessing the mental centers of a zombie and not really caring about appropriate risk or money direction I entered a fairly large size.

Upon check to this commerce's standing in the morning that I was dismayed to find my Live account balance was significantly lower than it had been the day before.

[pilamixu]

When I began trading roughly 7 years ago I made several profitable trades, a couple of winners and then lost total faith in the trading naked egy and went searching for the answers in forums such as the Trading System discovered here on FF.

That was most definitely my biggest mistake, like I have wasted my time with several systems over the years just to end up back at square one and creating a profit with the naked egy. This time around I have a lot more faith in the long term profitability of the egy and can (relatively) happily suffer... Thank you for your article!

I'm sure that many will agree - I sure do that they had the same full-circle experience.

I was really pissed for a little while about the waste of time on total nonsense and sc but, today I just chalk it up to experience and I'm glad that I'm still here.

Good Trading!


BTW: There are a Couple of good threads here: Picture Tennis, The Video Store etc..

[Pemgigok85]

2, 6 and 4 are huge take-aways in my last 2 decades of trading. It took me about 1.75 years to finally learn from these mistakes.

PS - I am still hoping to earn ichi work for me -)


1. Starting real account without demo experimenting. I made 10.000usd in one week, then ruined my full starting capital. I didn't know what a trend has been?!

2. Trading with other people egy to see which would fit my style.

3. Inadequate patience.

4. Too SL.

5. Tight TP, or too much TP.

6. Not paying attention to spreads, getting into pairs with 10spread. The terror, to even make it breakeven.

7. Overtrading.

8. Overconfidence.

9. Not enough assurance.

10. Wanting everything...

[pabloecua]

My main folly was trying TOO hard to understand and call off of each of the charts I'd see posted on other forums or signal providers!

I believed that if THEY set a Support or Resistance @ x.xxx then it MUST hold up right?!

LMAO!!

Believe in YOURSELF, also when you're prepared to understand how and why a number of those market customs exist, it will seem that far more like common sense!

[pilamixu]

PS - I am still hoping to make ichi work for me ; -) Best of luck in making it work.

Only joking around! All the best!

[moookica94]

Making $12,000 in in 1 day at my first week of investing ( I was 20 then, people I worked with called me TRUMP,lol). It was the worst kind of beginners luck I might have been granted. Then it was the same old story, overleveraged trades, no real egy, trading all night then going to function.

[zomska]

It is among the toughest jobs on earth but is being a doctor. These people have the toughest job as they save lives.
This is a rather good analogy. The challenging thing about Currency Market some other zero sum game is that one serious mistake could end you. Much like if the doctor makes a serious error when he is operating on you - which may end you, also.

Therefore, my main mistake has been allowing myself to make big mistakes. The majority of my mistakes are the normal newbie types: trading without risk management, attempting to average out of losing trades and doing it poorly, position sizes too big, etc.. But, at worst, even when I have made these mistakes, I have made them in a BIG way - and endured BIG losses.

Making mistakes is human and therefore is inevitable. But the subject of degree is important. For example, taking a small reduction on a losing trade isn't a error - its just an essential move in the total game that someone must learn to execute more or less mechanically. So, as I get more experience as a trader, I'm always trying to think ahead about what my mistakes can and will be and to plan for those, to adjust my method so there is ample room for those mistakes - and to ensure that they won't eventually become huge mistakes.

[oxmio4k5]

So what are you saying. . .now which you've perfected your egy you never lose?


I never made a mistake once I perfect my egy.

[joxlama]

Trading while high.

[Jllelegamcay]

Pretty cliché; not took trading as an business contra something to mess about with. Additionally, I underestimated the amount of effort, pain, fruion, dull times and dediion this game took.

[pablolmga]

....
4. Too tight SL.
.... Reminded me of something that I read back in my times of CFD trading - it went like this:

My biggest trading mistakes:

1. SL too tight.
2. No SL.
3. SL too tight.
4. SL will try bringing it.
5. Brought SL to breakeven fast.
6. Do not bring SL to breakeven.
7. No SL.
8. No account.

Not trying to make fun of you in any way, but I couldn't withstand positing this.
Glad you've discovered your own profitable modus operandi. Well done.

[gokamgan]

telling my mother in law what I'm busy with and why I really don't like office captivity any more. That cracked me up. .

[llloxsme]

Setting rules simply to break them if I felt the situation warranted it.

[Musa1269]

Seems to me that most of, if not all, the posts are about errors in trade planning and plogy

[Isabelaq95]

Someone once said I dont make mistakes,since I understand from other people, smug git,but I”d like to know what your single most important error or oversight was when you began forex trading.
It might give me and other noobs something to think about,and it would be very valuable in pointing us in the right direction

Regards Alb.