The majority of Indonesian traders "career" (especially beginners) stop prematurely before they are able to produce anything because of forex trading mistakes they made. In fact, many have spent so much time seizing opportunities in the market, but have been unable to get meaningful results.

There are many things that cause the journey of forex traders in Indonesia to stop quickly like a flower that withers before it develops. This time, we will try to discuss at least 6 causes of failure and how to fix them.

Not Making It a Habit is One of Forex Trading Mistakes

Have you ever seen workers in a cigarette factory who can roll 350 cigarettes per hour very neatly? Or a typist who can type 80 words per minute without mistakes, without even looking at the keyboard? The secret is a practice which later becomes a habit. That's why they seem so good at these things.

It goes the same in trading world. As long as you are not used to analyzing and making decisions, then you will still "stutter". Your "steps" will be halting and you will be bored because you think forex is not the right choice. Even though the problem is not with the forex, but in your unfamiliarity.

The solution is to make this activity a habit. Set aside time each day to monitor, analyze and carry out transactions. So, in this habituation process, you can practice using a demo account first in the best forex broker.

Confidence Issues in You

There are two issues about self-confidence that become forex trading mistakes. The first is a lack of self-confidence, and the second is overconfidence. Both of these things will be detrimental to you when you enter the world of forex.

The lack of confidence results from a lack of knowledge. Too many negative things occupy the mind. Fear of miscalculation, fear of loss, and so on. Those fears prevent you from making transactions and in the end, many golden opportunities are missed. The solution is to learn more about trading.

Complete your knowledge with techniques as well as capital management and risk management, so that multiple losses will not affect your results, because overall you can still enjoy sweet profits.

Conversely, too high self-confidence can be a problem. Too much confidence will cause you to be undisciplined in the trading plan. Instead of making a profit, a big loss will always haunt you to the point where it will "kill" your account.

The solution to these forex trading mistakes is to remember that you may not be able to control the market. The market is always right. So stick to your trading system, capital management and risk management. When all those parameters say you have to exit the market, get out. In other words, stick to your plan!

You Don’t Have a Proper Plan

Anything that is done without planning, especially business, will almost certainly not go well, even ending in failure. Traders who make transactions only sporadically, without careful planning, can never last long in the trading scene.

Maybe in some cases, there are beginners who can make a profit early in their trading journey, but no one can ever maintain that achievement. Instead, they usually finish in a matter of weeks.

The solution is to have a plan in which there are rules that you must follow including risk limits, systems that must be followed, to rules for using capital. Do not forget, be discipline to run the plan. There is a byword that says, "Plan your trade, trade your plan." You can start by joining Didimax forex broker to learn more about the strategy.

It is not just about understanding the rules of the game and also good theory. There are many other things you need to pay attention to in order to become a professional trader. Avoiding forex trading mistakes is your obligation to succeed.