1. Don’t use robots: We have not seen one that consistently works.
When the market changes the robot stop working.
2. Less is more:Â Info overload makes you a worse trader. The basic tool
you need to be able to see is a 5-alarm set up. This is a high probability trade
3. Successful traders make money from larger time frames which is where
they see the larger trends
4. Don’t look at smaller time frames: High stress trading comes with the
small time frames. They take more time and make you less money
5. Don’t trade the news: Many times the price has already been factored
into the move. Wait until good signals form then trade the signal.
6. Trade what you see not what you think: Learn to read the market don’t
over think things. This can be a big problem for many traders
7. Exits are more important than your entries:Â An exit comes about with
good money management. Learn how to manage your trades and be
willing to close a trade whether it is a winner or losers.
Hope this helps to keep you out of some of the forex trading pitfalls.
Jed and Kirk Norwood
support@forexstrategysecrets.com