Trading Mistakes

Trading mistakes:
Avoid Online Forex Pitfalls

By Brian Dolan
Online currency trading has absolutely exploded in popularity over the last several
years. Hundreds of thousands of traders from around the world have flocked into the
forex markets. Some are experienced traders from other markets who are branching
out into forex while many others are entirely new to financial market trading. The appeal
of online forex trading is easy enough to understand: 24/7 market access, generous
leverage ratios, ease of execution, and a narrow universe of active currency pairs.
But just because it’s easy to get into a market does not mean it’s easy to be successful
trading in that market. To be sure, currency markets can be as rewarding or unforgiving
as any other trading market. Beyond that, there are the many self-imposed errors
that can lead to unfortunate trading consequences. From my vantage point at an online
currency brokerage (full disclosure) I’d like to review some of the more common trading
pitfalls so you can avoid them.