Forex can look glamorous — charts, candles, and people flashing profits online. But behind the scenes, many beginners lose money fast. Why? Because they repeat the same mistakes.

Let’s unpack the most common ones and how you can avoid them.

Mistake 1: Trading Without a Plan

Jumping into trades without rules is gambling. You need a plan:

• Entry point (when you’ll buy/sell).

• Exit point (when you’ll take profit or stop loss).

• Risk per trade (usually 1–2% of your capital).

Mistake 2: Over-leveraging

Leverage lets you trade big with small money. But too much leverage = faster losses.

• Tip: Start low (1:10). Don’t go 1:500 just because your broker allows it.

Mistake 3: Trading on Emotions

Revenge trading after a loss? FOMO after seeing someone’s profit screenshot? That’s how accounts get wiped.

• Solution: Stick to your plan. Take breaks if emotions take over.

Mistake 4: Ignoring Risk Management

Pro traders lose too. The difference? They manage risk.

• Always use stop-loss orders.

• Never risk more than you can afford.

Mistake 5: Chasing Signals

Buying signals from random Telegram groups is like copying exam answers from strangers. Sometimes right, often wrong, and always risky.

• Instead, learn analysis basics (support/resistance, trends).

Mistake 6: Trading Too Often

More trades ≠ more profits. Overtrading burns you out and drains your account with fees.

• Solution: Trade less, wait for high-quality setups.

Mistake 7: Not Practicing First

Jumping straight into live trading is like playing football finals without training.

• Start with a demo account. Build consistency before risking real money.

Final Take

Forex isn’t quick money. It’s a skill that takes discipline, patience, and practice.