ProTrader
Forex Supporter
It rumored that 95% of traders failed in Forex trading and no longer trader after a few years. Why is such high failure rate? Below is a few common mistakes:
1. Too much expectation to win:
As new traders, you usually win and make a good profits, it somehow called new trader's luck which gave expectation that they understand the market and the market will go as they want. But it is WRONG.
You have to understand and accept the fact that you will on the wrong side sometime, even Warren Buffett make wrong decision so it's okay for you to be wrong.
2. Follow the market rules on both Technical and Fundamental:
If you traded for sometime you probably got skills and a few indicators on your platform, but that's not enough to generate the profits.
Technical indicators don't understand fundamental factors, some data such as NFP can move the market up-side down.
Have you ever make above mistake? Would you have something to added? Please share your thought.
1. Too much expectation to win:
As new traders, you usually win and make a good profits, it somehow called new trader's luck which gave expectation that they understand the market and the market will go as they want. But it is WRONG.
You have to understand and accept the fact that you will on the wrong side sometime, even Warren Buffett make wrong decision so it's okay for you to be wrong.
2. Follow the market rules on both Technical and Fundamental:
If you traded for sometime you probably got skills and a few indicators on your platform, but that's not enough to generate the profits.
Technical indicators don't understand fundamental factors, some data such as NFP can move the market up-side down.
Have you ever make above mistake? Would you have something to added? Please share your thought.