Popular Strategies That Lose Money – Avoid Them!
There are many Forex trading methods but only as few work, hence the fact that 95% of traders lose money so if you want to win make sure you avoid the popular losing strategies enclosed – lets take a look a them. You would think that when 95% of traders lose money, that it would be common sense that Forex trading is not a walk in the park and this leads us to our first huge group of losing traders.
Cheap Forex Robots Don’t Work
If you see a Forex robot which says it can make you a lifetime income for a hundred dollars so avoid it. These robots are laughable, they claim better track records than the worlds super traders on millions a year in salaries and yet, none have been sacked in favour of a hundred buck robot and the reason is obvious they don’t work. The Forex robot world is one of – hyped claims, actors masquerading as traders and simulated paper track records; its a wonder that so many people believe they will work, when common sense should tell them they don’t.
Scientific Theories of Market Movement
These are popular, when its quite obvious markets don’t move to science if a system can predict the future it would be right all the time and there is no such system. The theories of Gann Elliot Wave and Fibonacci are the most popular but none are right all the time so they can’t be scientific. Perhaps the funniest one is Fibonacci, this was a theory that was designed to solve a problem to do with the copulation of rabbits and has nothing to do with Forex. Fibonacci was a brilliant thinker but he would be as bemused as me, at how his theory has been hijacked by the far out investment community and applied to Forex.
Day Trading and Scalping
In days gone by, before we had instant price information the day trader could make money and take advantage of the window of opportunity which existed between the few who had the price information quicker than the masses but this advantage has gone. All daily volatility is random, you can’t get the odds on your side and that means losses. Day trading and scalping is a lot of work for no return.
How to Win at Forex Trading
Get a simple system which is based on the reality of price change and trade it with confidence and discipline and while you may not win every trade, if you trade with the odds on your side, cut your losing trades and run your winners you can make a lot of money.
