I am not yet trading in crypto but still in forex with FXOpen, but talk about the worst mistake, as I remember my big mistake is when I am trading in a demo account with use 1 lot position size, then because look good signal then switch to login real account, but I forget to change position size that should only use 0.01, I am shock but order already opened, still grateful because eventually exit in profit.
your worst mistake
- Thread starter bitgooods
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Thanks, great idea
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Anyone using signal? Most of the newbie's mistake choosing the right forex signal. According to Wikipedia, a forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. Most of the signals are based on the analysis of technical indicators.
Hope that works in your favor.
My worst mistake and probably the worst mistake a newbie could make, was getting lucky with a winning trade on a losing system (didn't have a clue what I was doing). It framed how/where I looked for trading insight and it set me back years.
Amen, brother. There is so much disinformation and lies peddled by the likes of CNBC, Bloomberg, as well as major TV channels. Add to that the legions of trolls that permeate chat rooms like Reddit and even ET and you have disinformation and lies galore. I used to listen to those crap when I was starting out as an investor and none of that helped me be a better trader. I only lost, lots of monies. When I buckled down and read lots of books (you have to separate the wheat from the chaff), watched DVDs from other traders, I learned some more facts. That even the best traders will not give you the whole enchilada. They will give you snippets to whet your whistle so, to say. So, what do you do? You combine the snippets and form your own trading system and trading plan. I did not have a mentor and made a lot of mistakes. In the end, I realized that stock and options trading was easier if you had a risk management plan in place. Getting into a trade where you took care of the risk first, took the toll of losing much easier to bear. Too many traders look to make millions without taking care of the risk first. Huge mistake. And stockcharts are your roadmap to stock trading success. Learn and analyze it, if you want to succeed.
K
krugman25
Breaking my own rules and re-entering a trade after hitting SL because the market was wrong, not me, and I was certain it would turn around (it never did).