The Seven Deadliest Crimes A Trader Can Commit & How To Prevent Them"
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Thread: The Seven Deadliest Crimes A Trader Can Commit & How To Prevent Them"

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    Arrow The Seven Deadliest Crimes A Trader Can Commit & How To Prevent Them"

    #1 - Losing trades from lack of knowledge. This might actually not be your fault. You don't know what you don't know. I see a lot of traders who make mistakes just because they have never been taught to trade properly.

    #2 - Closing a trade too early. Because most trades generally lose, they tend to bail on the trades too early when they have a profit. This is the whipped dog syndrome.

    #3 - Entering a trade based on gut feel. You might have been studying a system, or even bought one, but for some inexplicable reason you just take a trade because of gut feel. Don't worry, everyone has done it, but it will empty your bank account faster than a New York banker.

    #4 - The martingale and grid fallacy. This one can come down on your head like a sledge hammer. One of the most common ways traders try to gain back what they have lost is to double up. The problem is you only need one or two losses to kill your account stone dead.

    #5 - Blackbox signal services and other such magic. I should qualify that there are some reputable traders out there who share their trades. Unfortunately, the vast majority of signal services are nothing more than smoke and mirrors. By the time the trader realizes that he can't replicate the provider trades, his account is toast.

    #6 - Inconsistent trading. The psychological part of trading is vastly underestimated by the majority of traders, especially new traders. They are fine if they are ahead of the game or around breakeven, but as soon as the inevitable losing streak comes around, it all goes out the window.

    #7 - Buying a system based on a flashy sales page or not applying common sense to what you are getting. I kind of sympathize with this group of people. These are just ordinary people who are looking for a way to earn some extra cash or improve their position in life. They don't know any better and are almost forced to make decisions based on the only information they have, which in most cases is the sales page

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    Rookie mohamed reda's Avatar
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    we must know that all trading system is the same because it totally depend in one thing which is technical analysis and also it may use the trends as the main strategy so it is the same in my opinion .i think buying a new system will not be useful for any trader .in my view point i think Forex trading is totally depend on technical analysis and fundamental analysis only .

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  3. #3
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    Before any trader invest in the currency market its important that you be well informed on how to operate and run a forex account, how to mange these accounts,how to trade on this account, how to mange and exploit and market risks, why lots if traders lose is because they trade or open an account without knowing how to manage and make profits in this account, so being well informed and being prepared are two important factor,you post has given some hints in how to prepare yourself before investing in the currency market.

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    if the trader has a good skills in analysis of the market he will be able to know how and when he can trade, he will know when to open a trade and will know when to close the trade and so he will not get big loses and will not close the trade early, so he will be able to make good and consistent profits, and will be able to survive in forex market for long time.

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