However, there are forex mistakes, making any of them you will join the 95% of traders who lose. If you want to achieve currency trading success, you need to avoid them.
 1. Relying on Someone Else for Success
Many apprentice traders think they can buy success from someone else. But remember that you can reach successes by yourself. And even availability of plenty of people can not give you this.
2. Day Trading Works
More apprentice traders try forex day trading than any other method. Day trading doesn't work, never has and never will - all short term movements are casual - period.
3. Forex Markets Move to a Scientific Theory
Many people think there are ways to beat the market. They also believe in the people selling systems that have found the scientific formula for market movement.
If markets will move to a scientific theory, then we will know the answer beforehand. Thus there will be no market.
4. You Need to Predict to Win
Remember, predicting where prices are going to go may cause your losing.
Rather than trying to predict, use momentum indicators to confirm price momentum has turned your way before trading.
To make odds to be on your side you may when you will trade the reality on your forex charts and be trading with momentum.
5. Markets Move to Supply and Demand Fundamentals
Because of living in a world of instant communications and because fundamental news is instantly discounted in the price, you cannot win using it you are playing catch up.
Besides, while the fundamentals are important they don't move markets, because people do this.
Remember the rule that says to follow action on forex charts and let price action tell you where prices are going.
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