Have you learned from your mistakes?

[Marco James]

Yes, I have learn so much long time ago. I learnt the importance of using stop loss, money management, and risk management, and many more.

That's great buddy! Stop loss. Most important thing for me.

 

[wajidali874614]

Forex trading is a business in which even a small mistake can cause big losses for you. Can even completely wipe your account. Due to the high risk of forex trading, there is a need to focus more on errors. And if we still make a mistake, then we must use the SL option, so that our mistake will result in less loss for us.

 

[yeneffer]

That's great buddy! Stop loss. Most important thing for me.

I think not many people realized that it is very important.

 

[Pretty6]

Mistakes are a part of every venture, not only forex. One should take them positively all the time, only then can one have success. Whenever I make a mistake, I make it a point that those are noted and I do not make the same mistake in future again.

 

[Daath]

I managed to get around some mistakes, but I had to learn some myself

 

[Sheldon56]

Yes, I have learn so much long time ago. I learnt the importance of using stop loss, money management, and risk management, and many more.

That's great! Since how long have you been trading?

 

[timmyk]

Mistakes and losses are part of Forex. But we can avoid mistakes and we can learned from Forex if you have learned about Forex. Learning is very necessary to keep our trading on track.

So true. I am still learning from my mistakes. I think the word to use is "learning," and not "learned."

 

[Zeenat shein]

This the most required quality for a successful trader. He/she has to be a constant learner and should always seek something good in though situations also.

 

[Fritz Fabiano]

Of course, there are so many mistakes i made when i was a beginner but slowly and gradually learnt from it.

 

[Dora_WalletInvestor]

It's human nature that we can learn better from experiences that affect us emotionally, so learning from our own mistakes can give us more lasting knowledge than just learning from books or from other people's experiences. Making mistakes can be seen as an opportunity to learn about things we have to be careful about.

 

[hk_09]

It's human nature that we can learn better from experiences that affect us emotionally, so learning from our own mistakes can give us more lasting knowledge than just learning from books or from other people's experiences. Making mistakes can be seen as an opportunity to learn about things we have to be careful about.

This is why I always suggest demo trading in the learning years, rather than just merely reading books and cramming stuff up.

 

[vicjon1995]

Demo trading is so important for every newbie. We should be thankful to the brokers for providing us with platform which is the exact replica of live account.

 

[danielbro]

Absolutely. It is so amazing to see how much growth I have made from learning all the mistakes that I made while not just in trading but also in life, generally.

 

[forexking]

My biggest mistake was not using stop loss in my trades. But now I make sure that I am using stop loss in all my trades and this is what I have learnt.

 

[e_abrams]

Was there a particular incident that convinced you to use Stop Loss regularly?

 

[Todor]

Of course. Nobody is perfect. I have also made so many mistakes initially but with understanding of the market, slowly and gradually, i started improving.

 

[fxplayer]

My biggest mistake was directly jumping into the live market without practising on demo account. I realized this mistake after suffering some losses and then I decided to put live trading on halt and started practicing on demo account. This really helped me to formulate the right strategy for me.

 

[SmartX]

My biggest mistake was getting impatient in the urge of making quick profits, but soon I realized that rushing and lack of patience can only give losses.

 

[btseen]

My biggest mistake was not using stop loss in my trades. But now I make sure that I am using stop loss in all my trades and this is what I have learnt.

Have literally heard so many traders sharing about the same issue-stop loss.

 

[JimBarryman]

There is not a single forex trader who did not make mistakes during their trading career especially in the beginning of trading. Most of the beginners will fail to learn from their mistakes except a small percentage of traders who will make the mistakes and learn from them. This is what will separate successful traders from failures.

Still learning, but I would say yes. My main issue was FOMO but now I know the best times to look at the market, and if I can't see anything then I leave it alone.