Mistakes builds the pillar of success

[haneefzain]

yes it is right failure builds the pillar of trader's success but we can say this for only those traders who learns from their mistakes and get experience from their trading mistakes..

 

[Angelic]

I have learnt that there is no point always crying over spilled milk. The best way is always not allowing that milk spill again. Mistakes can make you develop a very good working strategy if you know how to work upon it. Each time we fail, the most important thing should be knowing what led to our failure and taking steps to correct that point so we don't need to fail again from that path. That doesn't mean we won't from any other path.

Yup, that is true, but then at some point some will unknowingly let the milk spill again. Thus, the best way to learn from mistakes and avoid those mistakes is by having the trading journal which will help us on remembering some mistakes that is likely to repeat.

 

[barood4money]

We should always avoid mistakes, and when we can't avoid it then we should learn how to avoid it. And the best part is that lesson will always be beneficial and helpful for you.

 

[Decub]

Yup, that is true, but then at some point some will unknowingly let the milk spill again. Thus, the best way to learn from mistakes and avoid those mistakes is by having the trading journal which will help us on remembering some mistakes that is likely to repeat.

That is where it hurts most. A man that allows himself to make one and the same mistake over and again could be said to be a failure. Each mistake should teach us how not to do things right and repeating it will definitely finish our capital one day. Not that making mistakes in Forex is bad, at least we should learn from each.

 

[Angelic]

That is where it hurts most. A man that allows himself to make one and the same mistake over and again could be said to be a failure. Each mistake should teach us how not to do things right and repeating it will definitely finish our capital one day. Not that making mistakes in Forex is bad, at least we should learn from each.

There are some thing that some traders don't really regard as mistakes in the sense that they do believe that it was the markets fault so they keep trying and trying that same methofd. Thus some people who trades with multiple trading account does some mistakes like misplacements by lot size and that mistake is some how unavoidable only if the traders stops trading on multiple accounts.

 

[gkintl]

Mistakes are footsteps towards success as long as the trader takes it in a right sense and learns from it. A good trader will never repeat past mistakes. It is the ability to analyze mistakes and learn from it matters most in forex trading. Most traders, including professionals, find it hard to change their habits. This actually reflects in trading. A trader who can train his mind to overcome this handicap eventually becomes successful.

 

[barood4money]

I have learnt that there is no point always crying over spilled milk. The best way is always not allowing that milk spill again. Mistakes can make you develop a very good working strategy if you know how to work upon it. Each time we fail, the most important thing should be knowing what led to our failure and taking steps to correct that point so we don't need to fail again from that path. That doesn't mean we won't from any other path.

Yes, you are right. But the main factor is very few people understand this. As determination and dedication is very important to realize this things. And that is why many people leave forex after losing money.

 

[Decub]

Yes, you are right. But the main factor is very few people understand this. As determination and dedication is very important to realize this things. And that is why many people leave forex after losing money.

You know some people came to Forex as if they were forced into it. I mean, they do not have a clear understanding of what they wanted and ways to achieve such. The presumed goodies in Forex overwhelmed their thinking and so, what they could understand is that it is a place to come and harvest money.

 

[seeker]

The best teacher is exprience, exprience has to do with practice with the demo account, that gives the exprience which is also risk free. The money used in the demo account is not real currencies and that means that we can correct some mistakes without lossing a dime.

 

[barood4money]

Actually, when i was introduced to forex trading, i used to think that is very easy. When i got involved then i understood the main factor of this trading. then i decided to learn first. And today i am enjoy the benefits of forex trading.

 

[ryuken]

We all make mistakes and we have to learn from these mistakes in order to make much better future for ourselves. that said, some of the time we have to understand how the pillar for success is going to be there in long term. that said, some of the people are harder to manage that way.

 

[Daisy]

We all will make mistakes in forex and especially newbie but do take note of your errors so you can avoid them the next time. I mean even little ones that you make could cost you a lot so do be cautious when you trade cause its with your real hard earned money. We all make mistakes so don't feel bad if you do and that is the process of a newbie. Once you are no longer a newbie, you will trade with so much more efficiency and that is why the demo is there for you to practice it.

 

[Pettyeve]

Nobody wants to make mistakes and nobody will avoid mistake. It is a means we learn in forex and a means we correct our errors. The major mistake someone who is a forex trader is trading with inadequate knowledge, this covers every other error that one can make.

 

[riddick09]

I have to agree that everyone will experience their own mistakes and that it will be our way to find out why we are making losses. This can also mean that we can seek for our weaknesses and try to make it as our strength and to become profitable to try harder and better trader in Forex.

 

[budado]

Mistake is a sign that you are not good enough to trade. Lack of trading knowledge is the main reason wh ywe make mistake. I don't recommend that we think that mistake will going to build us. In fact if we make mistake we must fear the worse. Its only when we start earning that we can say we are learning.

 

[Decub]

Well, in as much as I agree that we should always learn from our mistakes, I still do not think it is a sign of incompetency. It doesn't show that you are a work over in Forex because it could have degrees and levels of mistakes. A pro trader to me cannot be exempted from mistakes since there are times he is bound to follow his instincts rather than strategies or analysis.

 

[budado]

I don't agree on this notation. Its good if we can bounce back after we make mistake but its not good that we rely on our mistake to make it good in forex trading. I do believe I can really handle my account in forex and I do believe I can really make it big in forex trading. So lets just hope we can really sustain ourselves in here.

 

[riddick09]

Yes, of course, we don't do have mistakes intentionally that's no point at all. What we have looking for is our real mistakes that we know as part of ourselves or reason of losses to prevent in our future trading those mistakes again. This way we can improve or prepare ourselves for those times.

 

[Decub]

A trader who makes a mistake and was able to learn from that mistake will likely perform better in that particular aspect next time he tries. That he failed the first time doesn't mean he is a failed fool after all, a man fails so that he can rise again. Where mistakes hurts most is if you can't learn from it, thereby commiting it over and again.

 

[amit.neogi]

One of the biggest mistakes of forex trading is the misuse leverage or trading on margin. One of the most famous sins that forex traders do is ordering too much leverage. Trading too much leverage musnt be when you have a little balance, thinking that you will make a big amount. If the price tends against your position by just a small pips, it will result in big losses. Generally, a trader will excute the trade for a small loss. That lesson i have learned from my mistakes.

Yes you are right every one will not aware about any thing so you will not done a job 100% accurate at first time with out any mistake