The old saying goes “Run your profits to cover your inevitable losses” most forex traders simply never do this, for 3 main reasons. They could but they don’t because they make fatal errors which means they lose all their money. Let’s look at the reasons.
Let’s first of all look at a common scenario that happens.
A Common Scenario
A forex trader sees a good trading opportunity and his forex trading system says enter - so he does, his trading signal is in the market and the trade moves into profit.
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Forex Traders - 3 Reasons Novice Traders Can Never Run Profits And Lose
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Forex charts and technical analysis is a great foundation for a successful forex trading strategy but most novice traders keep making the same mistakes and lose.
If you don’t want to join them, avoid these common forex chart mistakes!
1. Using Useless Indicators
These are indicators based upon flawed logic and are mostly loved by the far out investment community and in the hall of fame we are going to place:
Fibonacci numbers, Elliot wave theory and cycles.
They all come from the markets move to scientific theory brigade.
Really?
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Forex Charts - 6 Common Mistakes That Cause Equity Wipe Out
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