Here is a list that annoys you most in trading Forex and that make you nervous or distracts you.
It is a list with things that many traders have experienced and that are still present. It seems that the things from the list will never get out from the market.
Forex truth is, when you read the list from the other perspective, like really experienced trader who has gone through all of them, then the list is funny which reminds you on those days.
If you know more things that annoys you most in trading Forex please share it with me in comments.
- 1 1. Waiting for the Trade to Hit Take Profit and Suddenly Reverse and Hit Your Stop Loss Annoys You Most in Trading Forex
- 2 2. It Annoys You Most When You Have to go Somewhere Instead of Staying and Trading
- 3 3. It Annoys You Most in Trading Forex When You Still Keep Looking at Lower Time Frames
- 4 4. Perfectly Thought Out Trades Turn Out to be Losers Annoys You Most in Trading Forex
- 5 5. Not Taking Trades That Turns Out to be Winners
- 6 6. Not Following my Rules Even the Trade Ends as Wining Trade
- 7 7. What Annoys You Most in Trading Forex is Self-Doubt
- 8 8. Entering New Trade With Already Opened Trade
- 9 9. Following Gurus Annoys You Most in Trading Forex
- 10 10. Blaming Others
- 11 11. Trading Systems and Robots
- 12 Conclusion
- 13 FREE WORKSHOP
1. Waiting for the Trade to Hit Take Profit and Suddenly Reverse and Hit Your Stop Loss Annoys You Most in Trading Forex
When you wait for several days for the trade to hit your take profit level and when it comes close to the target, few pips away, it reverses and drops a lot where in a single day closes with your stop loss.
You have being waiting patiently for the trade to reach your target and then everything disappears. The waiting for the take profit to be hit is so torturing especially if you are all the time in front of the screen.
This way of market moving is so annoying that makes you hit something or to yell on someone.
But it is very satisfying when you see large drop without being your stop loss hit and then price moves back in your direction.
How do you solve this annoying thing and prevent losing your profitable trade?
If you use trailing stop you can easily prevent the trade being losing trade after it was profitable with price close to your take profit level.
Trailing stop will move your stop loss level after certain pips you define and you at least can be break even or make some money. It is always better to be profitable with small amount of money than lose profitable trade and end up with loss.
2. It Annoys You Most When You Have to go Somewhere Instead of Staying and Trading
When you are trading and waiting for the trade signal to come or you are already in a trade and then someone, wife, tells you you need to go buy something or do something.
Trading requires being in a quite room without distractions but that is not possible all the time.
When someone interrupts you in trading you get nervous which makes you frustrated. Then you start to look for fast exit if you are in a trade or you are looking for fast signal so you do not miss some trade signal.
Fear of missing out (FOMO) enters into the game and forces you to do wrong decision. You do not want to miss something because the next trade signal could be the best one you took in a while.
To overcome FOMO you can completely ignore trading at that time or if you must open the trade you can open with smallest lot size. If you open the trade with smallest lot size you will prevent losing a lot of money if the trade is bad one.
3. It Annoys You Most in Trading Forex When You Still Keep Looking at Lower Time Frames
If you are day trader it happens that you trade mostly on the H4 and D1 time frame. Your trading strategy is based on the stronger trade signals on larger time frame without going into smaller time frame where is large noise.
But, it happens that you look into smaller time frames because you are waiting to long for the signal on the larger time frame. And, to make some trading and not just waiting you open M1, M15 or M30 time frame.
Then you look for a trade and eventually open few orders and you lose the money because smaller time frame does not give right signals and which does not last to long.
To overcome this problem it is better to close all lower time frames without opening them at all. Or you can automate your trading style and let the software do the trading for you which will not open smaller time frames.
4. Perfectly Thought Out Trades Turn Out to be Losers Annoys You Most in Trading Forex
When you invest a lot of searching and waiting for the right signal and then the signal shows up. The perfect trading signal you were waiting for days appears in front of you.
You check the signal by all the rules and steps in your trading strategy and it ends up that it is the right one.
You check your risk management rules and open the order. After a while market starts to shift against you.
You start checking again the checklist you have checked before to see have you maybe do something wrong. The market does not move in a way it should.
And the trading signal ends up as a losing signal.
You become frustrated because everything was by the book but no, the market decided that this signal was not the right one.
Well, I think all of you have experienced this situation. You have done all what you could and you should end with the money on your account but you end up with loss.
This problem you cannot avoid but that is why you should always use stop loss defined by the risk management. That way you will protect your trading account from bigger loss.
5. Not Taking Trades That Turns Out to be Winners
You watch the market and wait for the signal and then you see it. The trading signal appears but you are not sure should you open that trade or not.
Something is holding you back.
Maybe you have already open position on other trading pair and you cannot or you think you should not open another position.
Maybe you think it is not so good trading signal even it is by the book or there is an event ahead which could have impact on the market.
And when the time passes you see that the trading signal was very good and promising where you could make a lot of money.
But you were waiting on the side because you were thinking why you should not enter into that trade.
What you could do here to solve this kind of the problem?
If the trading signal is by the trading rules and you have taken all the steps necessary to check the trading signal then you should open that trade.
Do not wait what will happen but open the trade because you are protected by the risk management. If the trade is bad one you will lose what you have defined by the risk management.
If the trade is wining one you will make money and you will not be sorry for not opening the good trade.
Be confident and consistent trader by following your trading strategy.
6. Not Following my Rules Even the Trade Ends as Wining Trade
When you see great trading signal and you enter into the trade even you did not check all the rules by the trading strategy you have.
And then the the trade ends up as wining one.
But you are not happy and annoys you that you did not enter into the trade by the trading rules. You entered the trade by the feeling.
Even though you made money without losing anything you are not happy.
This happens a lot and if it continues further you will open trades that will not be wining ones.
To solve this problem you need to overcome this way of trading and follow your trading rules. Do not open the trade until it is by the book.
7. What Annoys You Most in Trading Forex is Self-Doubt
When you have losing streak and you do not know is the problem just in the trading signals or it is because you are afraid.
Your confidence melts down and eventually you do not know should you open any trade again. You become afraid that the next trading signal will be losing one.
I have encountered this situation many times and it can be tough to move forward.
But if you are playing by the trading strategy rules there is no worry. Your risk management have good ratio between wining and losing trades so eventually you should end up with profit.
8. Entering New Trade With Already Opened Trade
It happens that you do not follow your trading strategy which says “Do not open new trade if you already have open trade“.
What happens when you open new trade when you have already one open that is profitable?
You think that the market will move in your way all the time so you open another trade in same direction hopping to make more money.
But, right after you have open new trade market stalls.
You sit in front of the screen and wonder “Why did you stop right now. I have just open new trade and you should continue moving“.
But, the market reverses and now you have one profitable trade that is melting and second trade that is losing trade. And your profit starts to melt faster than earlier when you had one trade open.
How to solve this problem?
The best and easiest way is to follow your trading strategy which says: do not open another trade if you already have one open, even that one is profitable no matter how much.
9. Following Gurus Annoys You Most in Trading Forex
And you found the website where Forex gurus tells you where the market will move.
You listen to them and you open order thinking they know where the market will move. But after order is open you blow your account.
Why do not close the order when you see the trend is not moving in your direction?
Well, you think the guru knows what he is talking about and you move your stop loss hopping the price will reverse in your direction.
But that does not happen and you eventually get stopped out by the margin call.
Read more: What is Margin Call
How do you solve this problem?
You should not listen to Forex gurus blindly.
If they say the market will move in one direction because of the bad news or good news, you should check the market by yourself and base your decision on your knowledge.
If you do not have enough knowledge, do not trade and start learning so you get the necessary knowledge to trade by yourself.
10. Blaming Others
You have seen many beginners or you were at the same position when you just started and did not learn a lot about Forex.
You have started trading and you start to lose all the money you have invested.
And then the only possible cause of your loss is your broker, Forex market and you get the idea that all in Forex is SCAM.
They are all wrong and you are right. The Forex is manipulation and only what you can do on Forex is to lose your money.
You are blaming everybody instead taking a moment and thinking what you have done wrong. Do you have enough knowledge and the right skills to be a trader.
This problem annoys most Forex trader who knows where the problem is. And mostly the problem is in the beginners who do not have enough knowledge to succeed.
You can solve this problem by learning and not doing beginner trading mistakes.
11. Trading Systems and Robots
How many times have you seen someone is selling the trading strategy, indicator or expert advisor(robot) that will help you trade on the market and make money?
So many peoples sells everything in hope to make money but many of those tools are not worthy buying.
It annoys you most when you buy something and you see that there is no help from it and you have lost money buying it.
You start thinking why the sellers sells it if it is profitable? Why does not he or she make money with it?
You make conclusion that they do not use that tools to make money but to sell it to you and make money.
How do you prevent being scammed with false tools?
You need to read the reviews and if it is possible to test it by yourself. That is the best way to confirm something is working and it does not work.
Some of the tools that are selling is good and it is possible to buy something that can help you make money. So, generally not all tools are bad.
Read more: Is Trading Forex a Scam?
I have listed some of the things that annoys you most in trading Forex but there are many others that I did not cover in this post.
We can agree that there are general things that are annoying but many of those things can be solved. On some of them we can influence in some way and some of them we can avoid them.
You should avoid annoying things in Forex just to remain calm and ready for trading because trading requires you to be patient, calmed and disciplined.
If you are a beginner in Forex trading or experienced trader you can get help to solve some of the annoying things connected with knowledge.
The help can be trading mentor who can show you right steps to become successful trader.
For beginners who does not know how and where to start with trading
In the workshop I will tell you
what steps to do in order
to transform yourself into a trader