39) Results simulation – beware of “black boxes” systems. These are those not disclosing the results after the signal appears. Most of them are trash. They show the list of incredible results. But think, if you could create a system with half dozen filters, wouldn’t your creature be perfect? Sure, moving forward is another story. High speed possibilities for solving questions are enabling you to create perfect systems with retrospective. Beware!
40) Inconsequence. Any entrepreneurship, including trade on forex, requires a business plan. If you do not pay much time to prescribe and to follow them, your trade will be chaotic and non-concentrated in your online currency trading. Make your forex currency trading plan, select the rules and follow them. Set the goals possible to achieve and you will reach them!
41) Specialist with no specialization. Focus on one currency for the technical trade. Each and every currency is trading the very special way, and if you don’t get familiarized with one currency, you will never make sense of it. Don’t try to do everything at the same time – focus and don’t try to learn howto trade currency #1, #2 and #3 at the same time.
42) Thoughts about the future. Live one moment. Especially if you are a single day trader. It doesn’t really matter what happens the next week or the next month, if you are trading with 30 – 50 stops. Limit your thinking with one day terms. It does not mean that your short-term trend is not helpful, yet, it’s not really obvious that it would be helpful to your daily operations.
43) Arrogance. It’s hard to trade, the statistics shows 95% failures in 100% cases. If you are successful, don’t take it for granted and try to do your job better and better every single day.
44) Keeping your head cold. It’s important to always keep your head cold. Trading you have to behave as if you were not in the center of the happenings. In order to achieve it, you have to be calm. It’s not football. Stay focused and enjoy.
45) Stay in the game. We do not advise you using demo-trade, just because a trader is obtaining bad habits while trading not real money. We do not as well advise to start with just observing the situation. Do start to trade with comparatively small investments. Yet, it has be considerable enough for you to feel the loss or the profit. It should be, say, one third or one fourth what you will be trading when you actually start.
