Hello welcome again to this blog. You are here because you want to become a better trader in the forex game. Today in this article,
I want to show you 5 things you are doing wrong when you trade. Let's move on right? ok.
Why you are not making money.
I want to show you 5 things you are doing wrong when you trade. Let's move on right? ok.
Why you are not making money.
You did not learn the basics:
This is the biggest if not the main reason why people lose or don't have profitable trades. I get reactions every now and then from friends about how some guys sold them some sort of 'forex signals' which they applied to their trade, and finally ended up as a big looser. As i hear this reports and reactions i get very upset and this is the main reason why i started this blog, just to help you become a better trader. 
The reason why anybody can just wake up one day and say they are selling signals, and then you were fooled into buying such trash is because you are not educated.
The forex trading game is a game of probabilities and because of the liquidity and high volatility involved (depending on your currency pair) nobody has the guts to sell you a buy, sell, stop loss or take profit signals as even they themselves are not sure what next behavior the market might put up. I even noticed that even when professionals sell you anything, they have a disclaimer that makes you accountable for your losses due to wrong application of knowledge. To crown this point, i say to you; sit down and learn before you lose your pants!
You do not have a working strategy
I will not be tired about talking to you about the joy you can derive as a trader, when you have decided to learn and study how to use the PRICE ACTION trading strategy. I already discussed the details here what is price action in case you have not read that article, drop this and go there now.
You were not trading like an Armed Robber
As i have already discussed in another article here trading like an advanced armed robber you do not have to just take any trade you see. My question is: must you trade? Trading has to become something of interest to you not a compulsion. In that article you will learn that spotting high profitable trade once is better than 100 useless trades. Go and read that article.
You were never realistic
Oh you thought that becoming a forex trader will make you rich overnight? Please wake up! It is this attitude to the whole idea that has made you do all you are doing right now. If your mindset about this whole game of forex is wrong it will definitely show up in your account. Of course your account won't lie.
I am not saying a forex trader don't make money. In fact it is the biggest paying profession i have seen on the earth. FOREX? highly profitable! But you have to be realistic. It does not take 1 month to 1 year to become profitable; it rather take years at minimum 3 years to 5 years max to really see results if you are doing the right thing. It could be shorter depending on your account which enables you to trade larger position sizes. 
But what I am saying is that you don't just start and become profitable overnight. It is best that I say this to help you think the right way and that is; taking the game slowly but steady. That is how to be profitable. Please I really emphasis you read this trading like an advanced armed robber again in case you didn't earlier.
But what I am saying is that you don't just start and become profitable overnight. It is best that I say this to help you think the right way and that is; taking the game slowly but steady. That is how to be profitable. Please I really emphasis you read this trading like an advanced armed robber again in case you didn't earlier.
You were over trading
Over trading is not the key to success in the forex market. Being really skilled and simple is!
Professionals don't trade anyhow, they do trade hunting and this is simply all it takes to be the best you can be. As a price action trader, over trading is not allowed in our circle. Here is another article for you that will help you understand this point better.how a newbie is supposed to approach
Professionals don't trade anyhow, they do trade hunting and this is simply all it takes to be the best you can be. As a price action trader, over trading is not allowed in our circle. Here is another article for you that will help you understand this point better.how a newbie is supposed to approach
I believe with this 5 simple points, you will change some of the things about trading you were not doing right and begin to do them right. Most importantly, I want you to change your thinking because this is where it all must begins. The mind.
Thank you for reading and do leave me a comment if you love this article. Questions are also welcome.
See you again soon!
I am Wealth Peters
CEO and Head Coach, Pips Akademy
Saying: Be a Great Trader!
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