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  1. #1
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    When a Pro. Trader turnes into a Novice

    Hello everybody,
    In this topic, I am going to talk about the common mistakes that differentiate a novice from a professional trader. With proper study, research and by avoiding these mistakes, a novice trader can become a professional trader. I am going to discuss some of the common mistakes that everybody commit in their daily trading activities.

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  3. #2
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    • The first mistake is to have an incorrect perspective about trading.



    • In the beginning, I used to think that trading is all about prediction and speculation with which easy money can be made in a short duration. Later, I learnt that trading is not a betting game.



    • I don’t mean to discourage you from willing to make more money. I only say that trading should be devoid of greed.



    • In fact, trading is simply about using rules of probability that gets repeated in a cycle.



    • From now on, our perspective about trading should be that, it follows the rules of probability and repeats similar scenarios in similar conditions.



    • To be a successful trader, we should try to get rid of the human emotions and be as mechanical as possible.



    • The most successful traders advice “plan your trade and trade your plan” which is a mechanical approach, devoid of emotions.



    • I found out that as a trader, till you can’t get a mechanical and repetitive point of view to the job, a mechanical trading system will not only be pernicious to you, but will confuse you.



    More comments on the way.....just be with us!
    Last edited by PCMNewsdesk; 05-22-2014 at 01:06 AM.

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  5. #3
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    The Wrong & The Correct

    The Wrong idea:

    I should know where the market will go, I have to realize trends and the market events correctly.

    The correct idea:


    To be successful, I need to use the law of probability, because I believe in no pragmatism in the market.

    The wrong idea:

    I should have a detailed plan and set of rules on my each move on the market.

    The Correct idea:

    I should always follow the correct rules and never ignore them.

    The correct idea:

    I should not change the rules according to the movements in the market. The market will obey the rules at the end and I should be patient and use it in my favor to make profit.

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  7. #4
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    I found out that as a trader, till you can’t get a mechanical and repetitive point of view to the job, a mechanical trading system will not only be pernicious to you, but will confuse you.
    Hi,

    Thanks for sharing your thoughts.

    I believe that your trading system is of great use and has good practical approach and could help me in changing the way I currently think about the trading.

    Thanks for your advice.

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  9. #5
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    One of the most common mistake a beginner does is to let emotions take control of the trades. If he sees that his trades are in profit, he gets happy and confident and when the trades go against him, he becomes despaired and sad.

    Do not let your emotions take control of your trades.

    Be in control and confident till you close your trades successfully.

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  11. #6
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    ​I have been doing my Forex Trading with FXOpen Markets from the last 10 Years and they are very Reliable and Trustable International Forex Brokers

  12. #7
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    We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen

  13. ARIONFORXtarder
 

 

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