Skip to main content

5 Mistakes Beginners Forex Traders Make



Mistake #1: 

Trading without education or training.

Mistake #2:  Allowing emotions to influence  trading decisions.

Mistake #3:  Failing to realize that trading has little to do with luck.

Mistake #4:  Thinking that losing is a negative when trading.

Mistake #5:  Not recognizing that learning to trade is an unending process.

Popular posts from this blog

Forex Trading Psychology -vs- Forex Trading Method

Did you ever see the movie The Italian Job, and if so do you remember when John Bridger asked: “You see those pillars over there, that’s where they used to string up thieves who felt fine.” Make the transition from paper trading to real money trading and you will feel FINE too – Freaked-out Insecure Neurotic and Emotional. And what a great analogy ‘string up’ is, because after all those months of paper trading winners are replaced with real money losses, that is exactly what you will feel like doing to yourself. The Trading Psychology Viewpoint No discussion about trading, or the consideration to begin trading, can be done without a harsh realization - the vast majority of all traders lose. It is said that the reason that most traders lose is because they are not psychologically prepared to trade, that is they are not prepared to accept financial risk for something of which they have no control over the outcome. Forex Trading is much more of a psychological problem then a methodologica...

Extreme TMA System

The market, like a pendulum, is a never ending sequence of extremes. It forever tries to reach the mean but never succeeds, constantly overshooting it´s mark, reversing and trying it again but always failing to reach balance. This system attempts to capture those extremes. It is a compendium of my understanding of the market, brought to it´s simplest expression. The principles are not complicated. The first indicator, the TMA shows us the average of the path that the price action in the market is following. As such, it is a backward looking indicator and attempts to determine the future from the recent history. It corrects itself by repainting itself. It has two outer bands that show us the outer boundaries of price movement that we are searching for. Our second indicator, the TMA Slope indicator will show us the relative change in the slope of TMA as compared to previous candles. It determines in which direction a trade must be placed and also shows divergences to price. For examp...

Top Rated Online Forex Brokers

Based upon average ratings from individual forex traders collected world wide from numerous websites throughout the Internet. S ource: http://www.bestonlineforexbrokers.com Broker Name (Alternate Name) Rating Web Site 1. Dukascopy Swiss FX (Dukascopy) 2. Delta Stock 3. Windsor Brokers, Ltd. 4. MB Trading 5. FCMarket 6. The Royal Bank of Scotland (RBG) (formerly ABN AMRO) 7. AvailTradingCorp. (ATC Brokers) 8. Questrade Inc. (Questrade) 9. Alpari (UK) Limited 10. FxPrice LLC (FXPrice) - French 8.68 8.46 7.95 7.90 7.80 7.78 7.69 7.65 7.64 7.54 dukascopy.com  deltastock.com  windsorbrokers.biz  mbtrading.com  fcmarket.com  marketindex.rbs.com/uk  atcbrokers.com  questrade.com  alpari.co.uk  fxprice.com 11. Forex Capital Trading (ForexCT) 12. Swiss International 13. LiteForex (Lite Forex) 14. eToro 15. thinkorswim 16. Sucden 17. Cortal Consors - Spanish 18. Cantor FX 19. Capital Forex Pro 20. IFC Markets 7....