Tag: forex mistakes

Do you think a winning trade is always good? Think twice…

What is the first idea that pops up in your mind when you lose a trade? “There must be something wrong with my system”, or “I knew it, “I shouldn’t have taken this trade” (even when your system signaled it).

But sometimes I think that we need to dig a little deeper in order to see the nature of our mistake, and then work on it accordingly.

What Mistakes really are

Most of us relate a trading mistake to the outcome (in terms of money) of any given trade. The truth is, mistakes have nothing to do with it, we make a mistake when we don’t follow our system, when the rules you trade by are violated.

To have a better understanding of this, take in consideration the following two scenarios: 

forex mistakes, trading psychology

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6 Mistakes That Assure Failure in Forex

Before venturing into your trading journey there are some things you need to be aware of, otherwise you could succeed on your trading adventure, and we don’t want that to happen, do we?

This Forex training guide will help you track the most costly mistakes Forex traders do.

First of all, make sure you don’t have a trading system. Having a trading system might increase the odds of your success. If you have a system, you will have an objective way to get in and out the market.

When traders create their trading systems they think objectively since there is no position to be taken at the moment.

If there is no position to be taken, there is also no money at risk, if there is no money at risk, we do think objectively and are open to every possibility, thus we are able to find low risk trading opportunities. So make sure you don’t have a system and trade based on a randomly approach.

If you have already created your system, then don’t follow it, be undisciplined. If you follow your system, there is a possibility that you can profit from the Forex marketbased on the trading opportunities you have found.

If you want to fail on your trading, be sure to be undisciplined.

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