There are common mistakes and ‘traps’ that give nearly all traders
trouble at some point in their trading careers. So, let’s cover the most
common mistakes that traders make which keep them from making money in
the markets:
• Analysis-paralysis
There is a virtually unlimited amount of Forex news
variables that can distract a trader, as well as tons and tons of
trading systems and trading software. You’ll need to sift through all of
these variables and forge a trading strategy that is simple yet
effective, warning; this can be a very a difficult task for beginner
traders.
The reason why, is that most traders seem to think that ‘more is
better’, when in reality ‘more’ is actually worse, as it relates to
Forex trading. There really is no need to sit in front of your computer
for hours on end analyzing Forex news reports or numerous indicators. My
trading philosophy is that all variables that affect a market’s price
movement are reflected via the price action on a price chart. So,
spending your time and money on trading software, systems, or analyzing
news variables is simply a waste. Furthermore, many traders get
analysis-paralysis, this occurs when a trader tries to analyze so many
market variables that they exhaust themselves to the point of making
silly emotional trading mistakes.
No comments:
Post a Comment