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7 Forex Trading Mistakes and How to Avoid Them 🙄

By on July 25, 2020 0 143 Views
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7 mistakes to avoid when trading Forex.
1) What affects the price of Forex? PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! These mistakes would apply to most markets but we are focusing on the currency markets here.
1) Poor Risk Management – this is the main thing that is going to kill you. If you haven’t got a good grip on how much you’re risking per trade/per day/per month – odds are that you will fail. Even if you have a good strategy you will still suffer a streak of losing trades at some point.
2) Not sticking to your plan – The whole point of a trading plan is to stick to it – if you’re not following your plan you’re not trusting your own judgement.
3) Averaging down – chasing losses and doubling positions is very dangerous.
4) Chasing market-moves – chasing a market due to fear of missing out rarely works over time.
5) Trading news releases
6) Not keeping a good journal
7) Trading too much size/leverage – a common mistake new forex traders make is misunderstanding how leverage works

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