Thursday, 9 February 2017

Top 11 Trading Forex Mistakes You Should Avoid - 1 of 11

Introduction

I wanted to share with you what I consider to be the top 11 mistakes rookie traders (and maybe experienced!) traders make.

Discipline is vital when trading seriously and following well established processes and habits does work. So why do so many traders think they can wing it and do it their own way? Follow the habits of successful people.

I'll be adding a new ones as the day goes by, or you can grab the complete set of Top 11 Trading Forex Mistakes by clicking the download button below.


Mistake 1 - Not having a trading plan.

Man making Forex trading plan
Like any business you need a plan to know where you are going and how to get there. Many traders don’t want to put the effort in to create a plan, they just want to get stuck in – “it worked when I was trading my demo account so why not now?”. Wrong. You need to be able to monitor your progress, measure your results and take action as needed.

If you fail to plan then you plan to fail. It also gives you peace of mind, following a plan allows your mind to not worry and invent various scenarios of what could happen when the going gets tough.

You know that following the plan will get you through.


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