So I’ve been trading forex for around 1 month now and here is my list of things I’ve come to learn I was doing wrong.
1. Trading to high of a volume.
2. Being too hesitant when trading.
3. Looking at too small of a time frame.
4. Don’t chase the market/profit/pips.
5. Don’t put all volumes in one trade.
6. Not using Stop Loss. (Stop loss rules ADR 10-15% Scalping. 25-30% Day)
7. Entering trades when not at best price.
8. Don’t follow advice from TradingView chat unless there is a chart.
9. Too close of a SL.
10. Not doing chart analysis.
11. Wrong time frames. (Correct = H1 for chart analysis and M15 for entry)
12. Use the quick buy/sell little as possible.
13. Expecting too much of the market.
14. If it doesn’t meet my rules don’t take it
Trading Forex is actually a difficult process. It’s not as easy as just buying high & selling low or other way around. Anyone can hit a buy/sell button but not everyone is willing to put in the time to look at the charts and do analysis of the charts. it’s 99% looking at charts and 1% making a trade.