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Mistakes That 95% of Forex Traders Makes |
Hi I'm Arvind, founder of Forexnext.com. I have seen many people loosing money in Forex Trading. When getting started in forex trading, there are common mistakes to be avoided. This is a list of common forex trading mistakes. It’s no secret that 95% of all new forex traders will inevitable fail and leave this market after losing some or all their money. What knowledge can we gain from this well know fact? If Indicators or Expert Advisor gives you profit then why 95% of people fail in Forex trading ? Professional traders won't use Indicators or Expert Advisors.
95% people trading setup screen shot:
This is my trading setup screen shot:
You are a Beginner Do not use Indicators & Expert Advisors
Throw away all indicators / expert advisors. Here I teach you the best method of making profit without Indicators / Expert advisors / Candlestick reading. For more information about the course click here Not Maintaining Trading Discipline The largest mistake any trader can make is to let emotions control trading decisions. Becoming a successful forex trader means achieving a few big wins while suffering many smaller losses. Trying to beat the market or giving in to fear and greed can lead to cutting winners short and letting losing trades run out of control Day Trading Beginners want to achieve great returns on a short period of time: Most beginners want to achieve great results on the short term. So, they leverage their account too much and try to day trade. This way, they can start making good money daily. That’s a thought, but unfortunately that’s not the reality. Day trading can be profitable but only if made by the most experienced traders on the market. Trading Without a Plan Failing to plan is planning to fail. The successful trader works within a documented plan that includes risk management rules and specifies the expected return on investment. First know what's happening in the market before you Buy / Sell. Practice & Experience is needed Thinking you’re smarter than the other traders or smarter than the market: Some beginners think they are smarter than everyone that can’t make money on Forex. That’s a big mistake. Some people are smart, well educated and can’t make money on Forex. If you start feeling you’re smarter than them you’ll believe that you don’t have to make big efforts to make money on Forex, and that will probably destroy your trading career. You need to keep in mind that Forex trading is a difficult business, and you need to work hard on it if you expect to make a living at it Quitting a job Thinking that you can make money in Forex with no work at all: Some people think they can make money on Forex with no work at all. That’s a huge mistake. Forex is a market where most people lose money. If you want to make money at it, you need to work hard, educate yourself, and dedicate plenty of time to it. That’s the only way you can make money on Forex. Overtrading Those forex traders who really overtrade are short term ones or day traders. For sure, overtrading is obviously the process of trading much more than needed. Thus many times that sheer excitement of trading is going to take precedence over the actual profit motive, so that forex traders certainly find themselves seeking some sort of adrenaline rush of fast paced trading but not equity growth. Forward this letter to any forex trader you know. Aspire to Inspire, Before You Expire! |
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![]() S.Arvind Founder, Forexnext.com, Sunpips.com, Suninside.com Forex Education and Trading Advisory Consultant Technical & Fundamental Forex Trader Introduction Broker (IB) Alpari UK |
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