One of the forex market trading most unique features is that the trade is operated around the clock. The following trading sessions are distinguished: Asian, European, American, Pacific. Asian and Pacific are less aggressive and there are almost no dramatic rates increases or decreases often seen during the European and Pacific. The period when the European and Asian sessions cross are better to avoid for a newcomer, as the indicators are often misleading and divergences of numerous kinds often happen. It’s hard for a foreign currency trade newcomer to trace back all the forex trading information and understand the reasons for specific behavior. It’s especially difficult to trade when the daily world news awaited by the whole trading world are on air (like Reuters). If it happens that you have to trade in this period, it’s better to trade before and during the Reuters news than after them as dramatic unexpected changes hard to forecast is you are new to the market may happen. When an average foreign exchange traders are asked about the time when they normally trade, they will tell you, e.g., from 12 to 18 – easily, with no strategy. It may be time before the work shift starts or before children come home from school. Yet, it may be useful for you to trade during the Japanese market is awake, no matter what’s your local time. It’s the best time to make use of all the indicators that are the most accurate, earn something and go to bed. You may return afterwards, during the Pacific market trade. It’s desirable to absolutely ignore the Reuters news time. Sure, even if you trade on the calm Asian market, it’s worth learning some today’s news before you enter the market.

One more important aspect is a demo account trading. Some market newcomers are practicing on the demo account for less than one month, that is absolutely not enough.

So, summarizing the foreign currency trader looser mistakes we have the following:
1. Little starting investment, not enough to actually start trading, feel the market and make fortune.
2. No strategy, plan, trading diary.
3. Wrong time.
4. No demo account practice.