The foreign exchange market is attracting more and more individuals wanting to take advantage of the financial opportunities it offers. However, among these novice traders, only a handful eventually realize profits. To help you to be among the few elected, we propose 5 errors generally committed by the new entrants of the forex.
Error n° 1: Dealing with Training
Error n° 2: Use too much leverage
Error n° 3: Too diversify its portfolio
Error n° 4: Abstain from setting up a money management system
Developing a system of money management makes it possible to define a set of rules with the aim of protecting your trading capital. Without it, your chances of succeeding are tiny.
Error n° 5: Do not close a losing position
By avoiding these five common mistakes, you are putting more chances on your side to successfully enter the forex market. However, know that there are many others then, continue to explore the different aspects of forex before you really start.