The year is closing and the New Year 2018 is coming to our life. It does not make a difference in the lives of trades as they only live to trade in Forex. This should change and you should also make your new year new in your career. We have made a lot of mistakes in the 2017 and we do not want that mistakes to happen in 2018. Many of the mistakes were made because we did not know how to trade in Forex. A lot of people start investing in Forex in 2017 and we hope this number is not going to decline in 2018 also.
Many people have started their career in 2017 and not many of them had their expected results. All of them invested their money to make profits in Forex and they had a not so good year in 2017. We believe the year 2018 is going to be great for all the traders and we want to share our realization of Forex trading with you. We want to tell you about the biggest mistakes that all traders have made in their career. It was made not once, not twice and also not thrice but many and many times. If you read this article, you may know what the biggest mistakes of the traders were in this passing years.
Overtrading the market
Overtrading is often considered to be the most deadly mistake of the novice traders. The retail traders don’t understand the importance of high-quality trade execution rather they look for more trading opportunities. But the expert traders at Saxo often says that a single quality trade execution is enough to secure your whole month profit. So instead of placing random trades, you need to find best possible trade setup in favor of the long-term existing trend. But for this, you might have to wait for weeks but always remember that the aggressive traders are the biggest losers in the Forex market. If possible look for price action confirmation signal in your trading platform and do the multiple time frame analysis to avoid the false trading signals. Never take too much risk even though you might have the best trade setup.
Not believing in themselves
This was the biggest mistake of the Forex traders in their career and also in 2017. If you look at this market, you will find that there were many ups and downs in 2017 Forex market. The Brexit has an impact on the currency pairs and it also made the Forex market risky to trade. The traders invested their money and they do not all their profit. It was one good long year and we have seen how much traders underestimate themselves. We have tried to ignite their spirit in Forex but they were not helpful. They stick to their belief that they were no good in Forex and they followed other traders in Forex. It has happened with the new traders and they tried to make their trades with groups.
You should not underestimate yourself in the market and think the other traders are better than you. This market is not hard to crack and you only need some good strategy, some belief in yourself and some good trends. We know that this year has been hard for you and you have been trying to make the profit but you are not going to make it happen if you follow the traders. What you have done in 2017 is past and we want you to believe in yourself. It is not too much to ask and we believe every trader has potential. Never think you are no good, you have no strategy, and you cannot make the profit. Believe in yourself and in the New Year of 2018, this should be one of your New Year resolution in your Forex career.