10 – Do Not Trade Lot of a Day
Mostly new traders try to do number of trades in a day. They take entries and become more aggressive getting little/big profit from previous trades, eventually they find entrap their selves in any volatile trade and beat their head into wall.
Slow and steady wins the trading race, it’s cliché I know, but it’s so true. Trading with high frequency opens you up to a world of emotional trading mistakes that will destroy your trading account and your self-esteem.
My practical experience shows and I know that for many of you this will unfortunately not register in your mind until it’s too late, but you do not need to trade a lot to make a lot of money. To understand why more clearly, check out this article on high frequency vs. low frequency trading.
I think a single trade with proper analysis, skilled approach is thousands time better than various trades done unprofessionally in a day.
Finalizing my discussion, I can say with full confidence if you learn the secret How to Start Forex Trading Business from Home and want to become successful trader, follow the above mentioned tips, you will gain a lot of. However due to volatility feature of forex trading profit and loss probability always looks moving on the chart.