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Learn from your past mistakes

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  • #16
    Errors are an integral part of trading that traders have to deal with all the time. If you get the most out of your downfalls, you can quickly gain the right experience and become a much better trader. I always advise newcomers to enter a trading journal that will allow them to analyze their mistakes and avoid them in the future. I also always say that you should look for the problem in yourself and not in external factors. It is up to you to make your decisions, so you should always be calm and aware of your actions. Among the most common mistakes, I can single out constant changes in the trading strategy, greed, and improper money management. These are the factors that cause you to lose your capital unnecessarily or even explode your account.

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    • #17
      This is very true because it is from our past mistakes that we learn to aemk better decisions in forex THere are countless number of traders that make mistakes everyday. THere are those who chose to learn from their mistakes and there are those who stay ignorant to only regret it later. If you want to be successful in forex then you need to be able to make the most appropriate decisions. You can never be sure of the decision is the most appropriate but if it is not the n the results will show it and then you can come up with better decisions. That is how you learn from your mistakes. If you have made it once then you try not to make it again.

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      • #18
        Absolutely agree!
        Especially with the passage which tells to learn the reasons for the losses. From my perspective, it is a key to success not only in trading but in any activity you take. Further development is impossible without learning from your mistakes and how can you learn from mistakes if you don't know why your last deals have failed. More than that, how can you choose a trading strategy if you don't really know whether it works or not?
        Analysing your past trades is crucial for trading and for making profits.

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        • #19
          doing this will also makje you build your strategy

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