Mistakes in Trading Forex

Mistakes in
Trading Forex
BY
WWW.THEFOREXNITTYGRITTY.COM

http://www.theforexnittygritty.com/forex
/mistakes-in-trading-forex
There are little mistakes in trading
Forex and there are big mistakes in
trading Forex.

The big mistakes are more noticeable
but it just may be the little mistakes in
trading Forex that are keeping you
from making money trading currencies!

Before We Continue…
Click the links below to get your
FREE training materials.
Free Weekly Investing Webinars
Don’t miss these free training events!
http://www.profitableinvestingtips.com/free-
webinar
Forex Conspiracy Report
Read every word of this report!
http://www.forexconspiracyreport.com

Really big mistakes include falling for
Forex scams in which turn out to be
pyramid schemes.

If someone promises to trade your
money in the Forex markets and
promises limitless and continually
great returns they are simply lying.

The biggest mistakes in trading Forex
are to believe in the proverbial free
lunch.

Similarly, when you trade your own
money you need to treat it as a
business and pay attention every
minute.

This is where the little mistakes in
trading Forex start.

Homework and
Practice

Someone asked a famous pianist why
he practiced the piano eight hours a
day when he was world famous.

He replied that if he did not practice for
a month the audience in the concert
hall could tell the difference.

If he did not practice for a week his
accompanist could tell the difference
and if he simply skipped one day of
practice he could tell the difference in
his skills.

Think of this example when you are
uncertain about a trade, forget to set
your stops or do not research a tip
before acting on it.

You can have what has been proven to
be the most successful Forex trading
system in the world.

And you can lose money if you do not
pay attention to the basics. You can
know everything that you need to know
and you can have a great system but if
you do not practice you are making
one of the biggest mistakes in trading
Forex.

Trading Live and
Simulation Trading

Many traders think of simulation
trading as what you do in order to
learn the mechanics of trading foreign
currencies.

For many it is how to master the skill
set needed to work at a trade station.

The problem with this way of thinking
is that skills decay when not used and
the real trading world is not where you
want to practice your skills.

The pure fact of the matter is that
many trader trade too much and too
often.

They do not wait for clear trading
signals and they do not do the
research to help them choose the most
profitable Forex pair and know when to
trade it.

They trade compulsively in the belief
that their trading software will make
money for them if they simply follow
the cues.

But, if you are waiting for a big move in
a currency pair you will want to think
about the trades that you will make
and you will want to practice them in in
simulation.

You will not want to risk your hard
earned capital on random trades as
you wait to execute the most profitable
trades.

Of the many mistakes in trading Forex
this is the worst. Traders bleed away
their capital on repetitive poorly
thought out trades and do not do the
homework and practice the skills
necessary for truly profitable Forex
trades when the time and
circumstances are right.

Mistakes in Trading Forex

Recommandé

Recommandé

Contenu connexe

Plus de InvestingTips

Plus de InvestingTips (20)

Dernier

Dernier (9)

Mistakes in Trading Forex