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DAY 12 - COMMON MISTAKES BY RETAIL TRADERS

There is a famous trading quote "A trader is the weakest link of any trading system". In this post, I have tried to identify some of the common mistakes we (retail traders) make while trading, which diminish our chances of consistent profitability and survival in this business.
1) Boredom: The trader wants some action, so they initiate a trade. Trades should only be enacted when entry signals are reached and not to alleviate boredom.
2) Frustration: Frustration comes from expectations not bein…
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DAY 10 - HABITUAL MISTAKES

Today I have made a very important decision related to my trading. I have decided to stop visiting forex trading forums, reading fundamental analysis, twitter comments related to forex, preview & review of news event etc.
I have realized lately that I have been concentrating less on my technical analysis and leaning more towards fundamental aspect of trading and getting influenced by opinions of other traders and as a result my trading results have suffered a lot in last few months.
I did detai…
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alifari 10 May

Neu_spir8 - I will definitely keep track of upcoming news event and how the data came out compare to previous month, but I will not read any review or preview at all. This will keep me unbiased as lately I was taking trades based on those reviews and not following my technical analysis. On the other hand I will keep reading stuff related to psychological aspect of trading and I also like to read lot of motivational quotes to keep my self going.

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alifari 10 May

FxMidaso - I agree with your comments..

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alifari 10 May

Another important point is ....... Every time I read a "market" related news. The first thing that comes into my mind is "why would anyone want me to know this?"

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Sticking to your own analysis makes you original.

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Jignesh 12 May

The only fundamentals I think are worth paying attention to is interest rates, but even that one is hit and miss

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