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Biggest Mistakes
You MUST Avoid
If You Are Ever Going To Achieve Constant
Success Trading Forex!
TELL US HOW YOU FEEL ABOUT FXCM, DBFX & DukasCopy
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MISTAKE: Believing that Forex "robots" can
make you rich while you sleep...
Most auto trade "robots", "expert advisors", or "black box"
systems don't work over the long haul. Sure they look great
on paper, but that's because most of them are "curve fit"
and programmed to work with historical market data. Think
about it: if these "robots" really did what they say they
could, don't you think your broker and everyone else on the
planet would be using them 24 hours a day?
Later in this article, I'll show you one
trick that gives you a better edge than all the robots
combined..
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MISTAKE: Thinking that you'll discover a
"holy grail" Forex system that can't lose...
There is no can't lose "holy grail" of Forex trading, and as
soon as you realize that in order to get ahead in the Forex
markets you WILL have losing trades... you're on the right
path to becoming a successful trader. Instead of trying to
predict the future, which is impossible; you, as a
successful, independent trader know that all you need to do
is put the odds in your favor on every trade. In fact, my
approach to trading is actually BETTER than a "holy grail"
system... because it actually EXISTS and is being used by
thousands of traders around the world right now.
You'll see how in a minute...
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MISTAKE: Trusting mindless, blinking red &
green light computer software to make trading decisions for
you...
If you think you can "get rich quick" buying Forex pairs
when a light turns green on your computer, and selling them
when it turns red... think again. As a successful trader,
you understand the underlying reasons behind your decisions,
which gives you way more power and flexibility than blindly
obeying a blinking light like a mindless lemming. I'll
show you how the "real pros" trade Forex, and once you
see how it works, you'll just shake your head at the poor
folks who were 'taken' by slick Forex 'red & green light'
software sales pitches...
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MISTAKE: Choosing a crooked or unscrupulous
Forex broker (this happens more often than you think)...
Let's face it. You and I both know that your broker is a
salesperson and just doesn't care about you. The bottom line
is that the more trades you place - win or lose - the more
money your broker makes. Also... it's a plain fact that
there ARE some crooked, dishonest brokers out there.
However, you'll never worry about which ones to trust once
you get your hands on my "Forex Broker Selection Scorecard"
that lets you quickly "size up" any broker quickly &
accurately. Many brokers won't be
prepared for some of these questions you get to ask them...
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MISTAKE: Spending too much time trading the
Forex markets...
Most traders think that in order to make the most money
possible trading Forex, they need to stare at their computer
and trade all day long. But most traders LOSE. I've found
that the more time you spend trading, the worse you do... in
part because you begin to sabotage your trading decisions
due to burnout, fear, and greed. Not to mention that you end
up not "having a life". I'll show you how to spend as little
as 20 minutes a day placing your trades. Don't worry, you
still can get your hands on as much "pip potential" as you
can handle. It all has to do with a
specialized way to treat the 24 hour Forex markets...
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MISTAKE: Waiting for the economy to recover
before adding Forex to your trading arsenal...
Many traders, especially beginners, wait for the media - or
their broker - to tell them the market or economy is safe
before placing trades. This is nonsense. The general state
of any markets - stock, Forex, whatever - and the current
condition of the economy has nothing to do with your
potential success trading Forex. As a successful Forex
trader, you know that profitable trades can be found EVERY
DAY, if you know what you're doing. Further, in the Forex
markets, over $3 TRILLION a DAY change hands. That's some
serious dough... which creates a TON of trading
opportunities. Let's take a look at
some clever ways successful Forex traders have been quietly
taking their fair share of this market... and how you could,
too...
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