Community Forex Questions
What are some common mistakes traders make when it comes to evaluating their trading performance?
One common mistake traders make when evaluating their trading performance is focusing solely on their profits or losses. While the bottom line is important, it's also important to analyze the strategy and decisions made during the trading process. Traders should evaluate their trades to determine if they adhered to their trading plan, if they followed their risk management strategy, and if they were disciplined in their approach.

Another mistake traders make is not keeping track of their trades in a trading journal or spreadsheet. This makes it difficult to evaluate their performance over time and identify patterns or trends in their trading behavior. Traders should record their trades, including the entry and exit points, the reason for entering the trade, and the outcome.

Traders also make the mistake of not taking responsibility for their losses and instead blaming external factors such as the market or news events. It's important for traders to accept responsibility for their trading decisions and learn from their mistakes in order to improve their performance.

In summary, traders should focus on evaluating their trading process, keep a trading journal, and take responsibility for their decisions in order to accurately assess their trading performance and improve their skills.

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