Common Mistakes in Forex Trading
Forex trading mistakes are not exclusive to forex beginners and that even experienced forex traders in some point of their trading life have committed these mistakes that have left them penniless and broke. One costly mistake that can put traders out of business is the stop-loss order. Many times, forex traders are advised to enter a stop-loss order immediately after entering a position. The stop-loss order is for cutting down the loss that might incur by the trader in order to protect him against the volatile movement of the currency pairs. Many traders commit the mistake of not entering a stop-loss order right after entering a position thus get affected by the currency movements and in the end might end in losing more than as expected. Many traders have the thinking that big initial deposit on their trading account will give them more trading advantages. While it can be true because of bigger gains, a small initial deposits on the other hand ensure traders of losing small and in ma