3 Common beginner’s mistakes in forex trading

Errors are things that can happen to every trader. The point that must be taken from the mistake is new learning so as not to happen again. Not a few professional traders who had experienced a loss early in his career. In the meantime, you can also check out IC Markets forex to make the excellent decisions in Forex trading.

Here are some novice trader’s mistakes that could have an impact on loss:

1. Beginner Trader’s Error: Incorrect analysis

Do you know? That not a few traders are too brave to take more risks than they should. This could be because traders are too deep into the principle of “high-risk high return”. But unfortunately, it is not based on the results of analysis and calculation but using instinct only. If indeed you are a beginner, you should avoid using instinct or feeling. Because at least as a beginner, you must really understand how the correct and proper analysis technique so that it can get profit.

2. Unstable emotions

To be able to deal with market conditions tend to change is not an easy thing. A trader is required to be able to control his emotions because 90% of trading games will affect the emotions. Not a few beginner traders get the loss because they can not control emotions well. So it would be useless if the trader already has a strategy but still always emotion when trading. Fear and greedy conditions are common, as often beginner traders take risks by holding floating for long periods of time, and delaying them for profit. But in reality, they will only get the loss.

3. Often enter the market

Are you a trader who thinks that often entering the market is the best way to make a profit? Unfortunately, the thought is wrong. Due to the fact that traders who do so will even earn losses without any profit. When you often enter the market then your emotions will go hooked to be able to get more profit, although you already know that the market movement is in an unstable condition. But in the end, you will remain tempted.

Richard T. Starkey

Author: Richard T. Starkey

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