Here we are going to give you some currency basics and this involves 10 essential tips you must do and 10 tips on common mistakes which you must avoid to enjoy long term currency trading success.
Let's start with 10 common errors you just avoid.
1. Don't Day Trade
It doesn't work because short term volatility is random and prices can and do vary anywhere in a day and you have the odds firmly against you and will lose longer term.
Ever seen a day trader with a long term track record of success? No neither have I, so avoid it and trade longer term trends where you can get the odds on your side.
2. Don't Try and Predict
Predicting is simply hoping and guessing and won't get you far - trade the reality of price change. No one knows the future and your predictions will end up as accurate as your horoscope!
3. Don't use Science
Don't believe anyone who tells you markets move to a scientific formula they don't - if they did we would all know the price in advance and there would be no market.
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