Mistakes to avoid in forex trading

1
Mistakes to avoid in forex trading
7

• www.Andywltd.com

2
Impatience
Many novices consider trading in the forex market
as an easy way to make profit in a short interval
of time. But, merely few consider the risks and
the commitments which are required to transform
it to success. To achieve long-term profit, you
should execute transections in relation to your
own balance.
3
Lack of discipline
Before trading in Forex, participants should have
the keen knowledge regarding the trade. They
should know the price at which they want to open
or close their position before they open the
market. Traders who work with a better trading
strategies, make more profit in their deals.
4
Trading with large positions
The forte of Forex marketing, which attracts many
private investors, is that you can trade on large
margin. This means, on deposit of small capital,
you can trade on a large positions.
5
Waiving of stop-loss orders
Through the use of stop-loss orders traders can
maximize their gains. Many newbie, however hold
on to losing positions far too long thinking or
hoping that the market will turn around.
6
No money management
The prevalent difference between newbie and
veteran traders is their approach to capital
management. It is highly recommended by the
professional traders that, traders should risk a
fixed percentage of their capital and to never
vary that percentage.
7
Lack of market knowledge
The common mistake done by the beginners is lack
of market knowledge. Generally they start trading
without a proper knowledge regarding selected
currency pairs and these are influenced by global
events.
8
Set and forget method
In this method, you just have to set expiry rates
for your trade and forget all worries reading it.
Setting automatic expiry rates does the job for
us, which results in no need to monitor the open
positions any more.
9
To transform your trade into the profitable one
Contact us
Andy.w19731
www.Andywltd.com
support_at_andywltd.com
/c/AndyWLtd
/AndyWLTD
_at_AndyW_LTD