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Learn from your past mistakes

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  • Learn from your past mistakes

    Traders fail in so many trades than they can ever account. Most of the time these trades occur at the beginning of their career. They do not know much and they do not have an idea why they are losing money. They view their losses as only a monetary loss but do not take any lesson from it. This article will tell you how you can learn from our mistakes and correct it for your future improvement. It will not happen in a month but we can hope for the best. Most of the time you will fail but do not lose hope. This is a way beginners and the professionals in Forex market have learned their trading.

    Most common mistakes
    If you do some extensive research you will be surprised to see the majority of the traders are making some common mistakes. But sadly they never learn how to fix these problems. For this very reason, almost 95% of the traders are losing money. This is where the professional traders are one step ahead in the retail trading industry. If you look at them you will understand they are always assessing their past trades. In fact, they follow proper trading journal as it allows them to make money in the long run. So how a trading journal does helps a trader? In order to understand this, you need to know what a trading journal is.

    A trading journal is nothing but the records of your past trades. The traders always write down the details of each trade so that they can have a clear idea about a certain trade. CFD trading in Australia is extremely popular and most of the traders follow this simple rules to boost their trading performance. In fact, this will also help you to become a disciplined trader.

    Why do you lose trades?
    The first question that you need to ask yourself is why you are losing trades? It can have many answers and the common is you have only begun your career. This cannot be an excuse when you are trading. You need to take the responsibility in your shoulders and compensate your loss. As it is an online market, the only way you can track your flaws is by analyzing your failed trades. People feel shamed and they try to avoid their mistakes. This is a big obstacle that is stopping you from achieving greatness. Ask yourself question and self-assessment of yourself. The answer will not be very beautiful and please your mind but learn to accept the truth. Sweet only comes after experiencing the bitter. Do not give up and keep exploring yourself.

    Are you using strategy against your mindset?
    People have different qualities that are very hard to change. You can be born with the short-tempered mind but other people may have a stable mind. You may fail with the right strategy if you are forced to go against your mindset. They can tolerate more failures and they have a higher chance at keeping their mind focused when analyzing the chart. If you find yourself short-tempered there is no need to worry. The market is designed in such a way that you can still make a benefit from your quality. Try trading with the short-term strategy and you will realize that it suits better than the long-term strategy. Never try to follow the group and trade on your own, even if it needs you to be left alone from the community.

    Never be ashamed of your mistakes
    If you are not doing mistakes, you are not learning anything new. Make mistakes and learn from it. It is the only way to know where you have your weak points and the rooms for development. Do not tell it to other traders but work on your progress. The result may be slow but you can achieve your dream one day if you admit your mistakes and try to improve yourself.

  • #2
    Thanks for sharing the article about the things you must learnt from the failure, failure is a part of life you should not be a slave of the failure instead you should learn form your mistake and this will help you to get stronger day by day thats a very sensitive topic to share, keep up the good work.

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    • #3
      Traders always have plenty of mistakes both for beginners and experienced ones, the main thing is to be able to work on them and react to them in time

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      • #4
        That is why it's a good idea to keep a journal when you trade, and regularly write down what you did wrong.

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        • #5
          What advice would you give traders about how to do that?

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          • #6
            Very interesting article, I hope in the future, I will not make such mistakes)

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            • #7
              I think that one cannot avoid mistakes altogether, to be human is to err, but if one manages to decrease the amount of mistakes they make over time they can learn to trade better.

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              • #8
                Mlawson71 what I usually do is analysis of my lose deals. I am trying to figure out what exactly I did wrong in order to make such deal. Then I try to make improvements, when possible, in my future trades. I am not sure what others are doing in this sense?

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                • #9
                  I think most traders attempt to do that, at the very least. I know I do.

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                  • #10
                    One of the best trait of a successful person is that he/she learns from their mistakes. A person will never achieve anything in life if he makes the same mistakes over and over. You need to be flexible and don't be one of the arrogant people. What do you guys have to say about it?

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                    • #11
                      I made the mistake of me in the past as a mirror for a period ahead of me

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                      • #12
                        What was the mistake if you don't mind me asking?

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                        • #13
                          in the past as a mirror view of the future.

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                          • #14
                            What were your past mistakes?

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