16 Deadly Forex Mistakes to Avoid

  1. Over trading. Trading just to keep busy and opening too many simultaneous trades

  2. Looking at charts over and over without purpose and no analysis

  3. Making trading decisions based on short time framed charts

  4. Not starting your trading with a demo account for a few months before live trading

  5. Trading the news. As an amateur you will always be late on the news and will end up trading the rebound

  6. Not understanding that trading is about percentages & coping with randomness.

  7. Feeling panic when you don’t have a trade on and feeling the urge to trade

  8. Not trusting your trading system

  9. Concentrating on your winnings and not on the system that creates winnings

  10. Meddling with your trades after you have set them. Changing trade amounts and stops losses

  11. Hesitating when a trade opportunity occurs and then piling in late when you have missed most of the gain

  12. Not having predefined stop loss and no idea how you will exit the trade

  13. Following a system or an expert blindly without any understanding of the system

  14. Not back testing your trading system before starting trading

  15. Trading on hunches

  16. Doubling up on trading losses and quitting a trade early when you have only made small gains