May
15

Forex Mistakes – 6 Common Errors. Helpful Facts to Take Into Consideration

By

Here are 6 common forex mistakes that if you made, will ensure an equity wipe out. 95% of forex traders lose and most make these common errors, so if you want to learn forex trading correctly avoid them at all costs.

1. Not Having Confidence

An obvious one – if you don’t have confidence in what you are doing you won’t have the discipline to execute your trading plan. Most traders never get confidence in what their doing, as they never learn the right education and trust a guru, e-book or news story. If you want to win, you must fully understand what you’re doing and why it works – so you have the confidence and discipline to trade your method.

2. Believing Simulations

How many traders buy a mechanical forex Trading System off the web with a simulated track record and expect it to make them money? The bulk of novice forex traders fall for this but of course, a simulation done in hindsight, knowing the closing prices is easy – but trading not knowing them is the hard part!

All simulated track records make money in hindsight and 99% lose in real time trading. Most are simply made up by vendors and combined with some copy to appeal to the greedy na

Categories : Forex Trading