Well, human beings are called “creatures of habits”! Yes, we do develop certain habits over a period and stick to it unknowingly. The habits are behavioral, ideological and conceptual. You might be wondering that how is all this related to FOREX trading? Is it an editing malfunction? Not at all, we are talking about a certain trading patterns that people develop over a period. They think that the patterns are perfect and there is no scope of losing money.
However, it is the right time to stop, think and analyze retrospectively about the worst of the trades you have committed so far. It will be hard to believe that you executed these trades. They will look so illogical and bound to fail. No wonder you made losses as it was a real account and not a dummy forex trading practice account!
Why do we commit mistakes in FOREX trading?
The reason is simple; you think that you took a well-thought decision, but it wasn’t actually. In fact, the trade happened absolutely automatically. Since you clicked it, not even the best forex trading platforms can warn you about the risk involved in it. You thought in a certain way and confirmed the deal even if market segments or other parameters were indicating differently.
Remember, your worst trade is not necessarily one that gave you huge losses. It could be a deal with marginal loss or even marginal profit as well. If the deal was not up to the standard rules and concepts of FOREX trading, then you can’t call it a good deal. It was something totally different from what is suggested by trading guides. You took the decision based on the gut feeling, and it went wrong.
It happened because your set thinking patterns suggested that the deal is good. Experts say that it is a nasty habit and one should refrain from committing such mistakes.
Can a free online forex trading training program correct the mistake?
No! In fact, no training program can correct it. The habit of believing in a deal based on set behavioral patterns should be corrected by the trader only. Never mind, even if you made marginal profits or losses; the trade gave you a great learning. You understood that theory is more important in a FOREX trade instead of preconceived notions. Thus, you prepare better next time and move on to another trade with confidence.