Tuesday, 30 June 2015

Top 7 mistakes made by people investing in Forex

First of all what is forex.
Forex is the foreign exchange market, in this market you're able to convert for example your Dollars into Euros and vice versa.
People are able to trade these currencies and predict certain movements (most movements are made due to economical shifts or news facts).

There are tons of different trading systems in this market.
It all depends on your own investment style.
Do you want to get in quick and leave with a small profit then your better of scalping.
Do you like the pairs with volatility then it's best to go for a grid.
For me personally I like a system that's able to adjust itself to the market conditions that lay in front of him.

Now some mistakes every manual trader has or will make:

1. Lack of experience.
2. Too much dependency on news/indicators/ etc.
3. Trading without a purpose like as addiction.
4. Open a trade with huge risk.
5. Lack of self confidence.  

6. Let your emotions stand in the way
7. Trying to make up your losses with bigger trades 

I've also made these mistakesthis is a interesting market, but it's also one that can turn against you quickly if you don't know what you're doing.


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