Its a fact that overall, 95% of traders lose their money and thats a massive p.c.. Click here to read articles about forex day trading strategy. The list of mistakes is in no special order of importance, make any of them and you may lose. Trading Breaking News Simply a dumb way to trade yet countless traders do it. The facts are there for all to see but all traders see them differently and draw their own conclusions from stories stories, with their opinion colored by the emotions of fear and greed. The facts are not crucial, its what people think about them that counts, never trade breaking reports. Making an attempt to envision the Markets ahead Prophecy is hoping or making a guess and that wont get you far in currency trading. Forget the far out investment crowd who follow such followers as Fibonacci, Gann and Elliot, these theories are not systematic as folk say they are, if they were they might work all of the time and they do not.
Other significant characteristics that traders need to have are discipline, confidence and appreciation of their own trading strategies. Why Do Most Foreign exchange Traders Fail to earn money Even Though They Have Completely Profitable Trading Systems? A lucrative trading system that works for a pro trader may not really work for another newbie trader . The reason being because different folks have different confidence levels and different experience of the systems that they use and the markets that they are trading in. No two pieces of info ever repeat precisely and the system falls down in realtime. Not Expecting Losses to several traders think currency trading is simple and assume they will never face weeks of losses.
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