TOP 5 MISTAKES IN TRADING IN FOREX MARKETS

TOP 5 FOREXTRADING MISTAKES TO AVOID

1) Running Losers and Cutting Winners:
If you cut off winners too soon you will lose profits but if you hold on too long to a trade thats going sour hoping for an upswing you will usually lose all profit

2)Trading without a plan:
Putting together a plan gives you a map, a guide and structure to yiur trading

3) Tradingwithout a stop loss:
This is worse than riding a motorcycle without a helmet up the wrong direction on a freeway!

4) Over trading:
This means trading too often and trading too many positions at once
5) Over leaveradging:
The chase for big wins draws some newbie traders to over leverage their trade so that even the slightes move in your favour brings big wins ...unfortunately the volatity of the Forex Markets for example means that its more likely to turn against you first before going the direction yiu had planned and over leveradging could result in you being wiped out!