Here's just what exactly you have to know in regards to the 3 main characteristics that needs to be avoid by every traders: 1- Irresponsible 2- Expert Fever 3- Impatient. These 3 characteristics are one of explanation why forex traders have failed in currency trading. Once you know and understand the whole these three things, you will be capable of fix yourself and become one of successful.
Irresponsible
Gaining knowledge from mistakes is a vital key to become successful as well to achieve your ultimate goal faster. Knowing that you are in charge of the road of your own goal, you need to do a number of researching regarding exactly about forex in order to achieve success in currency trading. Remember, you are the one that responsible in finding your own personal strategy, which broker or platform you may use etc. Plus your own personal success lies on your diligent self.
Expert Fever
There a plenty of what do you called expert these days are posting their very own strategy and promoting it to numerous traders. The catch is most of those buyer (traders) are following all what expert says completely and It's like most traders are been tricked. Following all expert opinion or system and analyze it and understand it and tweak it to fit for your own personal strategy is exactly not a problem howevere , if you're following the expert completely then, that's going to be problem. This is just what I called expert fever. All you have to perform is develop your own personal system and if you would like to search for some opinions or idea to your system, do it now and suit it to your own personal system. The real key thing is to follow what that's suit for you.
Impatient
Most of the forex game is watching for the valid signal and then execute an entry order but the catch is that with impatient trader. They jump on the market although they don't see any signal or what do you called blind trading. Thus, the result using this blind trading is much like that they are burning their own money. All you need to do is to study to be patient and not to be like a hungry monkey doing stupid things and keep in mind that the main element thing is that you simply must understand when to wait and when to go for it.
You've now learned these three stuffs that you need to avoid and you also know the solution from it. Let me put in a simple recap, first is that you are responsible for what all you do so its mean if you're fail on developing or planning your own personal strategy then, you are planning to fail. Second is that never follow the expert said completely since you must some testing on it first and pay attention to if it suit for you own strategy or system and third, you have to understand when to wait and when to go. So next time you do some trading, you'll remember these three stuffs that you will need to avoid and you may trade successfully because you know these 3 things.
Author Resource:
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