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Foreign exchange trading practical experience what are the main mistakes commonly made by foreign exchange traders

Many people say Forexrebateking it cashbackinforex difficult to make money in forex Forex rebate king, it is true, but that is for both know how to trade forexrebateindonesia know how to hedge people do as foreign exchange investors want to win in forex trading stable, should know to avoid the following these misconceptions this article we will be forex cashback forex must avoid the main mistakes to categorize, one by one to discuss and analyze forex trading experience: forex traders often make mistakes a. Forex traders often make technical mistakes 1. overuse indicators or other magical tools to trade many novice foreign exchange investors, prefer to believe that they need to use indicators to fully understand the volatility of foreign exchange prices, or that indicators can somehow help them profit in fact, this concept is wrong, overuse or reliance on indicators makes many traders focus only on Experienced investors understand better that trading with indicators does not give you more profit than trading with simple clean bare charts. You need to learn to analyze various price movement signals in the market and seize trading opportunities, but you also need to understand that learning price movement pattern analysis as a trading method only increases the success rate of trading, but does not ensure that you can make profits every time. If there is one thing that professional traders have in common, it is an in-depth understanding of the risk-reward ratio and how to apply it to each trade. You need to consider not only whether you have a greater chance of winning in the circumstances, but also whether the risk-reward ratio of the trade is worth the trade. Many traders get discouraged after a few failed trades in a row, and the root cause of this is the failure to understand that the risk-reward ratio takes time to work All Forex traders are prone to make similar mistakes in the market At the same time, many people mistakenly think that a trade that far exceeds the capital gain is a successful Forex trade In fact, investing is A need for long-term persistence, to be able to get rich overnight in the foreign exchange market is only a very small number of people, for ordinary investors, the money that does not affect your normal life to invest is wise, foreign exchange investment is no exception II, foreign exchange traders often make mistakes related to trading habits 1. do not know how to control the size of the position many traders committed to the foreign exchange market, and do not understand the market to set a larger The scale of the trading stop-loss does not necessarily represent a greater risk, while setting a smaller stop-loss scale does not necessarily represent a reduction in risk or the absence of risk investors often make a trading mistake is that they are often based on the size of their trading position to adjust the scale of the stop-loss accordingly; rather than first calculate the most logical stop-loss position, and then according to the stop-loss position to adjust the size of the trading position for position size control 2. No trading planThe majority of novice traders have no trading plan, a common problem at the same time, they also have the wrong idea that investment success does not require a trading plan, just as the growth and prosperity of any business investment requires a detailed business plan. A trading plan in forex trading is essential to the growth and success of a trader. A trading plan can help you stay calm in a market that can destroy itself without restraint. Emotionally controlled trading losses are never something we want to see it can make you emotional and irrational, inducing you to trade outside the plan of reflexive trading every time you operate successfully traders do not exist investors need to fully understand and be able to accept that when trading, there is the possibility of losses, you need to develop a trading strategy In the long run, your trading plan should compensate for losses in the course of trading and if not, you need to reflect on and adjust your plan Emotional trading is the ultimate result of the various trading mistakes mentioned in this article Any of the trading mistakes listed in this article can lead to emotional trading and once you start trading emotionally, due to psychological reinforcement In trading, there are many factors that can prompt or lead to emotional trading, and emotional trading is the reason why many traders lose money in the market. The Forex market is a great arena to learn to adjust and control your impulses and reason, but it is also a slaughterhouse that can lead to financial self-destruction. The reason for the lack of patience in trading is that these novice traders, who usually look at the market from a completely wrong perspective, are attracted to trading by the vast majority of traders. The vast majority of traders are attracted to trading because they believe that trading can fast-track their lives, whether that change is so they can get out of a hated job or it can give them more financial freedom Although none of these goals seem bad, when you trade from the perspective that there is no other way but to need to make the trade fulfill these desires, you have to be able to be unaffected by any unpredictable situation that arises with your trading This means you cant trade money that you cant afford to lose once when you stop looking at things from the perspective that the market has to do something for you to live happily, you start the practice of investing patiently in the forex market, and it will greatly increase the percentage win rate of your trades and make you more profitable faster 2. Ignore large time periods for trading this one is actually for medium and long term traders For those who have investment experience, they form their own trading habits, they either focus on the large cycles of trading time and form their own insights They usually trade based on daily or 4-hour lines but many novice traders prefer to do short term or even very short term trading and want to base their trades on those short time cycles The reason why medium and long term trading is mentioned is because, high time cycles can be used as a price volatility filter, which can filter out those useless price fluctuation situations and thus can help investors see where prices are most likely to go next This is the reason why it is said that when you combine price movement pattern analysis with higher time periods, this combination will be a powerful portfolio 3. Overtrading/overcommitting Over-utilizing leverage can easily result in traders fall into negative emotional impact would be none other than overtrading Many traders do not realize when they are overtrading Most traders do not spend enough time on demo trading, nor do they spend enough time on demo charts to perfect their own forex trading strategies committing to real trading too quickly, and as a result of this quickness, they and overtrade in a state of mind that is most likely to occur after a After a trade, and regardless of whether the trade turns out to be a win or a loss traders must pay special attention to their psychological state after exiting a previous trade, because this is the time when revenge or complacency reaches its peak state, and at this time traders are likely to kill the market without sufficient reason to trade forex trading can be addictive, and you should try to make the number of your trades Another controversial aspect of Forex trading is the withdrawal of profits. Traders often want to make more profits, but it is wise to know how to take any trade as it comes and leave it in the bag, even though many people will say that Forex trading is all about the brave and the timid, but investors should know that even a small profit is better than a loss. In addition, every time you leave the bag for peace, in fact, is also disguised to improve the utilization of capital if you do not withdraw profits in a timely manner, if the market falls back or reversal, the previous profit will disappear, not to mention the risk you face when falling back, if you want to wait until the equivalent profit again, I do not know how long to wait, which is why you have to withdraw profits in a timely manner In addition, forex traders must To have no regrets, first of all, we know that regret this emotion for the completed transaction does not have any impact, neither will you benefit more, nor will you lose less and regret this mentality will affect your next trading decision above is the common mistakes that foreign exchange investors must avoid when trading in foreign exchange, I hope that for foreign exchange investors have a reminder or inspiration, and finally, I hope to commit to Foreign exchange trading friends can achieve better performance in the foreign exchange market, to achieve long-term stable profits
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