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Forex Training: Deadly Forex Mistakes That Assure Failure



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Futures Trading Systems SpacerBefore venturing into your trading journey there are some thingsyou need to be aware of, otherwise you could succeed on yourtrading adventure, and we don’t want that to happen, do we? ThisForex training guide will help you track the most costlymistakes Forex traders do.

First of all, make sure you don’t have a trading system. Havinga trading system might increase the odds of your success. If youhave a system, you will have an objective way to get in and outthe market. When traders create their trading systems they thinkobjectively since there is no position to be taken at themoment. If there is no position to be taken, there is also nomoney at risk, if there is no money at risk, we do thinkobjectively and are open to every possibility, thus we are ableto find low risk trading opportunities. So make sure you don’thave a system and trade based on a randomly approach.

If you have already created your system, then don’t follow it,be undisciplined. If you follow your system, there is apossibility that you can profit from the Forex market based onthe trading opportunities you have found. If you want to fail onyour trading, be sure to be undisciplined.

Don’t get educated. Most successful traders are very welleducated in the market they trade (stocks, Forex, futures, etc.)If you get educated, you might acquire the knowledge andexperience you require to master the Forex market. Don’t readabout the Forex market, don’t enroll into Forex trainingprograms and don’t even look at historical charts.

Don’t use any money management technique. The purpose of moneymanagement is to avoid the risk of ruin, but at the same time ithelps you boost your profits, allowing them to growgeometrically. For instance, by using no money managementtechniques, there is a possibility that in loosing 10 trades ina row you could empty your trading account. On the other hand,by applying simple money management techniques you can avoid it.So make sure, if you want to fail, don’t even consider moneymanagement.

Forget about psychological issues. You need to get every tradeto win. Successful traders know that they don’t need to winevery trade in order to profit from the market. This is onecharacteristic that is hard to understand and really apply. Why?Because we are taught, since kids, that any number below 70% isa bad number. In the Forex trading environment, this is nottrue.

Don’t even consider using a Risk-reward (RR) ratio greater than1-1. If you use a RR ratio of 1-2 (willing to make twice theamount risked in one trade) then you only need a system that isright around 50% to make money. If you use a RR ratio of 1-3(willing to make three times the amount risked in one trade)then you will need a system that is right around 40% of the timeto make money. So make sure to use a RR ratio below 1-1.

By applying every point outlined in this Forex training guide,you will almost assure your failure in your Forex tradingjourney. Do the opposite, and you will have the possibility toachieve what every trader is looking for: consistent profitableresults.

About the author:

Raul Lopez is a full time Forex trader; his trades are based ona price behavior approach. Raul is also founder of a high quality Forex education company.


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