Gene Seay

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If you want to enjoy Forex trading success you can but you must understand this - 95% of traders fail and you must avoid the common mistakes most traders make, here they are...

Most people don't enjoy Forex trading success, because they make the basic errors below, make any one of them and you will fail too. Let's look at the mistakes and what you need to do to enjoy Forex trading success.

Major errors made by traders include.

- Trusting a Forex robot or Expert advisor to lead them to success

- Believing the markets can be predicted in advance

- Believing that Forex scalping or day trading is a way to make money

- Thinking that working hard guarantees success

- Thinking that being clever is an advantage

- Thinking that complicated trading systems work better than simple ones

- Thinking they will not suffer long periods of drawdown and not being prepared to accept this and keep losses small

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- A failure to run profits due to not understanding standard deviation of price.

All the above beliefs lead to losses so avoid them.

Forex trading looks simple to learn and it is, if you avoid the myths and get the right Forex education. You can quickly put together a simple Forex trading strategy which can make money but getting a system that is logical and can win, is only half the equation for success.

The major problem most traders have is they simply cannot adopt the right mindset.

Forex trading involves losing for sometimes weeks on end (don't believe it won't happen to you it happens to all traders even the best) and in these periods, it is important to keep losses small, until you hit a home run. In Forex trading losing is part of winning.

If you get angry, frustrated or can't trade with discipline, through a losing period you will never win at currency trading.

Trading with discipline is hard but you can do it, if you have confidence in what you are doing.

You need to have an understanding of your emotions and keep them in check, in order to win. Most traders never manage to do this but if you can, you can enjoy currency trading success.

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