When you start plunging into the world of forex, there may be some forex trader mistakes that you make. Forex, aka foreign exchange, which is better known as foreign currency exchange, is still considered a "scary" investment.

It is called "scary" because the advantages or disadvantages it offers often make the eyes unable to blink. Often regarded as two equally sharp sides of the sword, it does not mean that forex trading is one of the businesses that can only be carried out by business people and experts in their fields.

In fact, investing in buying and selling foreign exchange is not exclusive to men with ties. However, this investment is quite attractive even for a housewife. If you are trading in the forex market with a 1: 1 risk/reward ratio and without a reliable strategy, then the chances of profit are 50%.

Therefore most traders who use this method should end up with BEP after several trades, because trading in a random way and a 1: 1 risk/reward ratio is likely the same as tossing a coin, which is 50:50. But why do most forex traders lose?

The main reason that causes most forex traders to lose is because of forex trader mistakes such as lack of self-control, tend to be subjective and overly predictable. Here are some mistakes that forex traders often make, especially novice traders whose trading results are not as expected.

Going against the Trend and Unwilling to Accept Losses are Forex Trader Mistakes

Even though traders know that by following the direction of the trend the chances of profit will be greater, they tend to trade against the trend for various reasons, especially if they have already opened a position.

‘Trend is m friend’, another cliché, which has helped many traders stay on the right side of the market. If you think about trading this way, it could be a tedious business, but at least one thing is certain: making money. The tendency to blame others or blame the circumstances is human nature, but if our trading results are disappointing it is ourselves to blame.

If we suffer losses it is not our broker who is at fault, or market conditions that are not right, but because we opened a wrong trading position. Blaming the best forex broker or the market will not help improve our trading results.

If we enter based on a recommendation from a broker and it turns out that the result is a loss, it is entirely our responsibility for our trust in their recommendation. If we continue to blame other parties for the losses we experience, we will never be able to improve our next trading results, because we don't see our weaknesses.

No Strategy and Overtrading

Other forex trader mistakes you may have done; if you enter the market with different methods and strategies, you can say you are trading randomly. This can happen because you do not have a certain strategy that has been tested or you do not master the trading strategy that you have chosen. 

If you are using a strategy that is always changing in the changing conditions of the forex market then the odds are 50:50. Conversely, if you have chosen a certain strategy but you are not good at it or have not tested it, then at some point you will hesitate, and if you feel you have to enter because the market conditions are very supportive then you will tend to use other strategies.

Feelings of euphoria after profit until you want to open a position again in the same way, or want to take revenge after experiencing a loss. Both of them tend to ignore the trading strategy that has been agreed upon. If you want to learn to trade, then you can join the Didimax forex broker.

Before you start trading with a real account, you can try a demo account to learn more about forex strategies. If you master the strategy, then you can minimize forex trader mistakes that can make you lose.