In the high leverage game of retail forex day trading, there are certain practices that, if used regularly, are likely to lose a trader all he has. There are five common mistakes that day traders often make in an attempt to ramp up returns, but that end up resulting in lower returns. These five potentially devastating mistakes can be avoided with knowledge, discipline and an alternative approach.
(For more strategies that you can use, check out Strategies For Part-Time Forex Traders.)TUTORIAL: ForexAveraging DownTraders often stumble across averaging down. It is not something they intended to do when they began trading, but most traders have ended up doing it. There are severSUMMARYForex requires a lot of training, large investments, heavy commissions, and your full concentration on the process.
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While there is a potential for profits, there is also dau risk of loss. A loss incurred tradding connection with trading forrex exchange currency contracts can be significant. You should carefully consider whether such trading is suitable for you in light of your financial condition since all speculative trading is inherently risky and should only be undertaken by individuals with adequate risk capital.