95% of all Forex traders lose money and the mistakes they make are easy to avoid, as they are myths or based on a misunderstanding on how Forex prices move. Here are your mistakes to avoid.

We look at how to win at Forex trading in a moment but first lets go through the top mistakes traders make which you need to avoid.

1. Trusting a Cheap Robot or Expert Advisor

They all claim they can make you rich with no effort and all you do is pay 100 dollars or so, they all lose. If Forex trading were that easy, everyone would be trading and not working. You don't make easy money in Forex trading and that's a fact, you have to work and learn skills.

2. Trading Short time Frames

Day trading and scalping as trading methods are very popular but all short term volatility is random, you can't get the odds on your side and sooner or later you will be wiped out. If you want to win, trade longer term time frames where you can get the odds on your side.

3. Trying to Predict Prices

No one can predict the future and if you try, your predictions will end up as accurate as your horoscope. Trade the reality of price change and you will get the odds on your side and win.

4. Thinking Prices move to Mathematics or Science

Related to the above point and its not true; the markets move to probabilities not certainties and if they did move to mathematics and science, we would all know the price in advance and there would be no market at all, markets move on uncertainty not certainty. Leave the theories of Gann, Elliot Wave and Fibonacci and the other ones who think they have discovered order to the far out crowd and trade the reality of price change only.

5. Over Leveraging a Position

You can get 400:1 leverage with many brokers and of course it creates risk as well as reward; not only does it create risk, it creates a transaction impact that can be in double figures on a highly leveraged position, so you have to make that figure back just to break even. You should never really use more than 10 or 20:1 leverage.

6. Thinking Being Clever or Working Hard Brings Success

You don't need to work hard or be clever to win, because Forex markets don't reward you for these traits, only the accuracy of your trading signal. Work smart and keep your system simple, as simple systems work best in an odds based market.

7. Not being Prepared for Drawdown

Most traders think losses happen to others and not them and they are unprepared for a losing period and cant cope with it. It is in these periods of drawdown that you must have the next key trait.

8. Not Trading with Discipline

You need to have confidence in what your doing which will give you the discipline to follow your system signals, through a period of drawdown and keep going until you hit profits again.

If you cannot follow your system with discipline you don't have a system and will lose.

To Win at Forex Trading

You need to see the markets for what they are a high risk market which is based on probabilities. In this environment, you need to trade a simple robust system with discipline and have an understanding of what you are doing so you have the courage to seek Forex trading success, this has always been the way to make money in Forex trading and always will be.

If you get the right Forex education and learn skills no other business offers you such great rewards