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Sunday, April 15, 2007

Popular Causes for Loss in Forex Trading

As you all may know forex market is the largest financial market in the world with highest volatility. Thus a small mistake in executing your trades may cost you great money. Below are some popular reasons for loss in forex trading, especially for novice traders.

  • Following a fraud book or course – most of the online courses and books educating you for forex trading are just made for profiting from your greed.
  • Day trading by novice traders – day forex currency trading is a practice only for experienced traders, not for novice traders.
  • Following false news stories and predictions – believing all news, especially from unpopular sources, can lead you to destruction.
  • Trading on others trading system – each trader has unique requirements; following other’s system means following others requirements.
  • Refusal of using stop loss principles – optimism is a good character but not in serious situations.
  • Laziness – Any type of money investment needs constant monitoring.
  • Over confidence – You may be a good trader, but believe that there may be better ones in the market.

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posted by Daniel Pipitone at 11:09 PM  

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