Get a FREE D20P E-Book, Download your eBook here!
 

The Overconfident Syndrome

forex-confident.jpgThere are many traders that think they must never close a trade until it will turn into a profitable one, the truth is by doing that they are just digging their grave.

Many trader think their predictions based on a particular indicator and technical analysis will always be right and the forex market will start behaving in the way they had predicted in any moment.

This is not a right forex trading strategy, with that behavior you will only be giving free money to the markets. You just will be defeated by your own obsession with being profitable even if everything is going against you indicating you must close the trade or tighten your stops.

Never fall for obsession when trading the forex markets, nothing good can result from this behavior. You must always place your stoploss according to your tolerance level and must have take profit level as exit channel.

 

Read More

I Just Want To Get Back To Even
This is a common words you always said when you caught on the bad trade. "I just want to get back to even" is a desperate quote that comes from some traders who are sinking under water. That "hope" is usually never realized. The traders who get most...
 Dont Hold Your losses Too Long
Traders can have all kinds of trading strategies, but prudent money management is paramount. In other words, cut losses short! The losing traders always hoping the markets would turn around and losses would be reversed. Any time a trader has losses...
 New NFA Anti Hedging Rules
Currently forex trader can have two opposite directional trades open at the same time on a single currency pair. So say if you are trading GBP/USD currency pair, you can have short as well as a long trade opened at the same time, which is what is called...
 Crossing Currency Knowledge for Forex Traders
The main reason for the forex bussiness was the Crossing currency. Crossing currencies in forex trading is one of the most profitable ways to earn money for many investors. The Forex is unlike any other type of market in the world. The foreign exchange...
D20P e-Zine

D20P Popular Search Terms

All incoming search terms for this post

del.icio.us:The Overconfident Syndromeblinklist:The Overconfident Syndromefurl:The Overconfident Syndromereddit:The Overconfident Syndromeblogmarks:The Overconfident SyndromeY!:The Overconfident Syndrome