Overtrading

[Zerologic]

My biggest mistake is overtrading.I have minimise it to a very larger extent,but some times Iam guilty of doing it

This is one of the weaknesses of manual trading, wanting to get more profits and not caring about higher risks. If we can be disciplined, actually sticking to the trading plan can minimize risk. Say today I will only open one order, well if the order is completed, whatever the result is profit or loss, if disciplined we will wait for the next trading day. But sometimes we can't stop ourselves and want recovery sooner.

 

[FXO_trader]

This is one of the weaknesses of manual trading, wanting to get more profits and not caring about higher risks. If we can be disciplined, actually sticking to the trading plan can minimize risk. Say today I will only open one order, well if the order is completed, whatever the result is profit or loss, if disciplined we will wait for the next trading day. But sometimes we can't stop ourselves and want recovery sooner.

I agree. Haste and greed are bad advisors in trading. If there is no trading plan, then overtrading can ruin your earnings plans.

 

[Zerologic]

I agree. Haste and greed are bad advisors in trading. If there is no trading plan, then overtrading can ruin your earnings plans.

Perhaps the most difficult part in forex trading is controlling emotions, even though an experienced trader when fails to control emotions, most trades end in losses. Emotions are often the basis for traders to overtrade, be greedy, and be overconfident.

 

[FXO_trader]

Perhaps the most difficult part in forex trading is controlling emotions, even though an experienced trader when fails to control emotions, most trades end in losses. Emotions are often the basis for traders to overtrade, be greedy, and be overconfident.

The most common emotions experienced by traders include fear, nervousness, conviction, excitement, greed and self-confidence. And to avoid these emotions, an individual approach is needed for each trader. But there are also a number of universal ways to reduce the impact of negative emotions: systematic trading, a trading plan, reducing risks in trading, observing money management, avoiding overtrading.

 

[billi]

Only two things can overcome any type of emotions and i.e., number one is the focus and the second is the discipline.

 

[stoch]

The most common emotions experienced by traders include fear, nervousness, conviction, excitement, greed and self-confidence. And to avoid these emotions, an individual approach is needed for each trader. But there are also a number of universal ways to reduce the impact of negative emotions: systematic trading, a trading plan, reducing risks in trading, observing money management, avoiding overtrading.

You forgot to add algotrading, in my view it's the most efficient way to reduce human error in trading.