Today Saturday day when the forex markets are closed I will not talk about analysis I will talk about something very important that we have to take into account so that it does not happen. The most common mistakes when starting trading, there are many mistakes but I will talk about the main ones and those that I have made.
Almost always the first mistake is to start with a real account, when you do not have any knowledge. I think this error is common in many people, it happened to me, I started practically learning by myself, watching videos on YouTube, reading some guides, when I started operating on a demo account, I performed several operations and with good luck I managed to get the right one. Most, I was very happy to see how the account grew in a matter of minutes, I felt so confident that I opened a real account with $ 20. I think that money didn't last me 15 days. Serious mistake.
In the networks there are a lot of publishers that talk about making sure that their services can give you up to more than a thousand pips a month. Desperate to want to make money and not end up losing my $ 20 with which I started, I started looking for that kind of help, of course I looked for it for free since I did not have money to buy a paid subscription, I downloaded several applications and joined several telegram groups, but without getting good results.
Many times when operations are lost we get overwhelmed and try to seek revenge with the market. When I began to lose operations, I became so desperate that I began to operate with a larger lot trying to recover what was lost in a single operation, hopefully I won one but I lost the others
When we position ourselves to carry out an operation we begin to look for all kinds of indicators, to change the timing until the moment where the entry is lost arrives. For the particular I placed the RSI, the Stochastic Oscillator, the Bollinger bands and had to meet all these parameters to enter. As time went by, I learned that it was much better for me to trade without all those indicators and I began to create my own strategies.
As much as when the operation is positive or negative, it is difficult for us to know the precise moment to close the operation. When I started out, I didn't know exactly where to put my SI, or rather I almost never used it, because when my operation went in the red I hoped it would reverse and start winning, something that almost never happened. When the operation was in blue numbers with a 0.03 profit, I closed it for fear of losing it, I did not have a Tp plan. Or he also let it run until the price fell again and he lost the trade.
When things do not turn out the easiest thing is to give up, saying this is not for me and I leave it. When I lost my first investment I felt so frustrated that I said that I would leave it, totally I knew absolutely nothing about my failure since nobody had the knowledge that I had started in forex, but as time went by, I kept watching videos in which I returned To feel the excitement of analyzing charts and being able to trade, I tried again, but hitting the wall of failure again, my frustrating thoughts came again that I should quit, that trading was not for me. I left it for a few months until I started it again but focusing on correcting the mistakes made, the main thing was to change my way of thinking, my most erroneous thought was to get rich overnight, not have a trading plan. Among others that I already name them.
Today I cannot say that I am a consistent or successful trader, I would lie to you if I told you that I am. But what I can say is that today I have much more confidence in myself, I feel very happy analyzing the charts every day and sharing it with you. I still make mistakes but little by little I will correct. I have great hope of becoming a profitable and successful trader, here on this platform all the analyzes that I will share with you will be captured, analyzes with good results and with bad results but they will remain here. As evidence that I did not "Surrender nor will I Surrender"
