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How to overcome the common forx trading mistakes, See a practical approach to surmounting the common trading mistakes
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ifxkarlie
post Sep 2 2015, 10:21 AM
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Joined: 20-August 15
From: Lagos
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Hello Folks,

Allow me share with you the common forex trading mistakes that affects many beginners. Even traders with some years of experience in forex trading still find themselves submitted to the enslavement of these mistakes. I would also share with you how one can surmount these mistakes by following and practicing with a special system.
See the following advantages of this system...

1. It eliminates the need to stay tensed and glued to your system 1hr, 10hours or 24 hours just watching your eyes off, waiting on a potential set up or signal. It needs only 5mins to enter a trade and then you are off!
2. It eliminates the need for any complex analysis or any further analysis once you get a Heroic signal.
3. It eliminated the need to have your PC or Laptop on either, waiting on some sound alert to catch the big moves.
4. It eliminates the pain and regret associated with missing powerful market moves. one never misses a market move as you are hooked 24/5 on the market just by having a mobile metatrader 4 installed on your phone(I phone,Blackberry,Ipad or Android)
5. You get a tested money management formula that ensures you make consistent monthly profits and never lose your capital or account balance.
6. Eliminates the possibility of paying recurrent hundreds and thousands of dollars to signal providers.

Common trading Mistakes.
No money management
The main difference between an amateur and an experienced trader is their approach to money management. Professional traders recommend risking a set percentage of capital and never altering that percentage. Risking a set of percentage of your total capital on each trade is an advantage in times of repeated loses because it reduces their impacts. Amateur traders often disregard this and increase their stakes as they begin to loose more. This type of scenario inevitably leads to loss after loss.

Not knowing your market
A common mistake made by novice traders is to begin trading without having sufficient knowledge of their chosen currency pair(S) and how currencies are influenced by global events. Learn as much as you can about how different financial markets impact each other and how they correlate, i.e. stocks, bonds, commodities and forex. This knowledge would enable you to make better informed trading decisions when various economic figures are released. It is also important to identify the type of market that is prevailing to allow you to adjust your strategy accordingly and thus avoid entering into loosing trades. The more informed you are, the better your chances of trading successfully. Be aware that some markets participants have different intentions from the ones you have, for example, hedgers often look for good average prices on large orders in order to risk manage their portfolios. This is in contrast to individual traders who seek to maximize profit on each trade.

Not monitoring you position
It is crucial that you monitor any exposure you have in the Forex market. Having a close eye on how your trade(s) is/are doing will help you maintain control of your trade(s) and help you follow market movements as they happen. Staying up to date with market developments is a good way to maintain and expand your level of knowledge an understanding of the Forex market. Be aware that the Forex market trades 24 hours a day, so making use of pending orders may be crucial if you want to leave your PC.

To read the concluding part of the forex trading mistakes and to download the system visit my blog here

You can also open a no deposit bonus instafx account hereopen instaforex no deposit bonus account




A trading strategy discovered is key and must have gone through the test of fire to be designated as such, more key is the discipline to ride on the trading strategy against all odds and establish confidence in it... most key and paramount is a good risk management rule which empirically is the fuel that would keep the engine of your strategy running and brings you to arrive at your financial goal always. This as a whole, can make up our trading system which we must always execute with discipline if we really wish to make a good living from trading currencies online. See Profitable, easy and stress-free system. Be your own free, quality Mt4 mobile signal provider. Visit My Blog
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