One biggest mistake for many new traders is starting to trade Forex without a solid Forex trading System.
The Forex market is really attractive because it operates 24 hrs a day and you can trade when the market is going up or when the market is going down and in the eagerness to make money, or prove themselves they dive headlong into trading.
Does that mean the beginner Forex traders cant make money?
Yes, you can make money trading Forex…and its if you are a beginner trader and you get into Forex trading and start making money right away, you should be very careful to let ego overcome you.
You can make a fortune trading currencies in the short term but soon this will lead to a bad psychology and trading discipline problems and you’ll end up blowing up your forex trading account.
Good trading discipline, psychology and humility are only achieved through experience.
To be successful in Forex trading, you’v got to have a strategy/plan in place which you must follow.
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