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

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        • #5
          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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          • #6
            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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            • #7
              I made the mistake of me in the past as a mirror for a period ahead of me

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              • #8
                in the past as a mirror view of the future.

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                • #9
                  There's nothing wrong with that, none of us are perfect, we all learn and do stupid things, so I take it philosophically and just always look for a way out.

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                  • #10
                    Mistakes are what help us get used to and build the right system of action that will work for our capitals. And we shouldn't expect everything to go smoothly. Mistakes and losses always piss us off, it's difficult, but only in our power to cope with such situations and further use the experience gained for our own benefit.

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                    • #11
                      ...Well, it makes sense, otherwise why do business further if you can't learn from your mistakes and start working differently?

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                      • #12
                        I fully agree with the author, correct analysis of your mistakes will greatly increase your efficiency in further trading, many people give up after the first set of failures and that is where their path as a trader ends. The right attitude to mistakes is very important for a successful trader, if you cannot understand what the problem is, you can always turn to other experts for help, as practice shows, it is easier to look for other people's mistakes than your own. A lot of traders often change their trading strategies, which is why they often fail. And I am talking about experienced traders, on the contrary, beginners should try different strategies and determine what is best for them.

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                        • #13
                          I agree with Nuathris. There are many traders who switch their trading strategies when they start losing money. Instead, I think that it is better to do your best to fix your current strategy. In this way you will be able to learn something new about market and your skills. Right?

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                          • #14
                            Originally posted by Rogers View Post
                            I agree with Nuathris. There are many traders who switch their trading strategies when they start losing money. Instead, I think that it is better to do your best to fix your current strategy. In this way you will be able to learn something new about market and your skills. Right?
                            Completely agree. Maybe our strategy is not the best one, but understanding why and not simply giving up is a winner feature in the long run.

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                            • #15
                              Exactly Landorra, I also think that it is a crucial point in trading to understand what exactly you are doing wrong in your losing trades. This is what actually is growing our trading experience and leads to improvement of skills and strategy.

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