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Forex Trader’s Worst Enemy

July 19, 2010 by

When a newbie trader enters the world of Forex trading he barely knows anything and often isn’t very successful. But after gaining some basic experience, reading some educational books on Forex and mastering some of the simple position management techniques a trader becomes confident in his skills. Unfortunately, such confidence can be premature as there are many enemies of success in Forex trading. Some traders don’t have enough understanding of the market, some have a poor discipline and others simply choose wrong Forex brokers. The first step in eliminating the obstacle on your road to success in Forex is identifying it. For example, I suffer a lot from my lack of patience — even when I test new strategies I tend to change them before I get some long-term results, or sometimes I would close the trades in small gain just because I don’t have a patience to wait for more profit. And how about you?

What's your worst enemy in Forex?

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If you have some interesting comments or questions about the enemies of the trader’s success in Forex, please, feel free to reply using the form below.

4 Responses to “Forex Trader’s Worst Enemy”

  1. Nathan Wheeler

    I am looking for an experienced trader interested in giving me one on one instruction, I can afford to pay $500 to $1000 for a couple of hours.

    Reply

    Slayhardstyle Reply:

    it not you to be teached!!you should teach your self to gain more experience than listening to other gurus…..teaching yourself is more efficient.And,trust me so that you can be a great trader.YOU MUST USE YOUR EXPECTATION!!NOT OTHER!!

    Reply

  2. ForexWinner

    How about the broker trying to make lose my operations, example FXCM

    Reply

    Andriy Moraru Reply:

    What did they do to make your trades lose?

    Reply

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