2 Forex Mistakes: How To Avoid Them To Make Profit

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Forex trading is a lucrative way of earning extra income online. It can replace your day job, make you live your dream life, have time for yourself, family and friends. While some traders make daily profit trading forex, others make great loses everyday. Not because they don't have idea about forex but because they overlook or don't consider some basic trading rules. This article explains 2 forex mistakes and how to avoid them to make profit.

The 2 common overlooked forex mistakes are explained below.

1. Trading Rules: Setting a set of trading rules and following them strictly are no doubt a good way of profiting from forex. However, most forex traders make mistakes by ignoring or breaking their trading rules. The major reason of setting trading rules is to eliminate your emotion from affecting you while trading. Don't break your trading rules, follow them to the letter and you will see increased profit at the end of each trade.

2. Greed: This is a deadly sin that is within every human but yet no man wants to admit it. A trader might find himself in a particular winning trade and want that moment to continue forever or want it to stay for a very long time. But the question is that does any winning trade last too long? The answer is no. A short term gain can disappear anytime. When this happens, the trader loses focus and this affects his emotion thereby dropping from being a successful trader to that that loses money regularly.

Greed can make you break your own trading rules and that will put you on a very slippery slope towards achieving success as a forex trader. Follow your trading rules because they are your best friend and guidance.

The above 2 forex mistakes are always ignored. Follow them and you will see success.
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