Are you struggling to break through the glass ceiling to a profitable trader? Check within you; maybe there are some bad trading habits you need to break.<\/p>\n\n\n\n
Here is a list of 28 bad trading habits that will keep you a sore losing trader.<\/p>\n\n\n\n
Beware when you notice them, and do all you can to break these bad forex trading habits.<\/p>\n\n\n\n
1 Not having a trading strategy<\/p>\n\n\n\n
Only a tested trading strategy improves your odds of making money from trading. Yet, many traders don\u2019t find the need for one.<\/p>\n\n\n\n
2 Hopping from one strategy to another<\/p>\n\n\n\n
Those who realize they need a strategy never seen to stick to one long enough to see the full potential of the strategy. No strategy makes money 100% of the time, but some of us are in the habit of looking for that one strategy. In the process, you lose money.<\/p>\n\n\n\n
3 Trading without a full understanding of a system or instrument<\/p>\n\n\n\n
Most traders don\u2019t bother to create their own strategies; they borrow from forums and friends. Without understanding it, they go live. Same with a trading instrument, you are told crypto is the thing, and you are all in, not understanding the intricacies behind a pair, you lose.<\/p>\n\n\n\n
4 Not having trading rules<\/p>\n\n\n\n
5 Breaking trading rules<\/p>\n\n\n\n
6 Not planning trading entries and exits<\/p>\n\n\n\n
7 Trying to catch the tops and bottoms<\/p>\n\n\n\n
8 Fearing to lose money<\/p>\n\n\n\n
9 Making Trading decisions based on emotion<\/p>\n\n\n\n
10 Not keeping a trading journal<\/p>\n\n\n\n
11 Trading without a stop-loss limit<\/p>\n\n\n\n
12 Moving a stop-loss limit<\/p>\n\n\n\n
13 Removing a stop-loss limit<\/p>\n\n\n\n
14 Adding to a losing trade<\/p>\n\n\n\n
15 Trading with high leverage<\/p>\n\n\n\n
16 Taking random trades<\/p>\n\n\n\n
17 Holding on to losing trades for so long<\/p>\n\n\n\n
18 Impatient with winning trades<\/p>\n\n\n\n
19 Trading when you are tired, sick, or bored<\/p>\n\n\n\n
20 Depending on external sources for trading decisions<\/p>\n\n\n\n
21 Blaming the market or others for trading results<\/p>\n\n\n\n
22 Feeling bad about losing trades<\/p>\n\n\n\n
23 Trading with money, you know you can\u2019t lose<\/p>\n\n\n\n
24 Hesitating taking or exiting trades<\/p>\n\n\n\n
25 Trying to double a trading account in one day<\/p>\n\n\n\n
26 Not investing in your wellbeing<\/p>\n\n\n\n
27 Ignoring the importance of trading psychology<\/p>\n\n\n\n
28 Not learning from your mistakes<\/p>\n\n\n\n
Before you think of breaking bad trading habits, you need to be aware of the bad habits in the first place.<\/p>\n\n\n\n
Once you are aware of these trading habits, it becomes easy to notice the patterns and strategically stepping into the cycle to break them.<\/p>\n\n\n\n
I\u2019ll be honest with you; honing the right forex trading habits is the most challenging section in the journey to a disciplined, consistently profitable trader. But, if you want to make money from trading, you have to walk this course.<\/p>\n\n\n\n