Online Forex Trading - the Biggest Error you Can Make

By: Sacha Tarkovsky

There is one error that is common amongst novice traders and guarantees that they will join the 90% of losing traders.

The biggest error traders make in online forex trading is:

Traders, who think that others such as:

Mentors gurus and systems they buy can give them success - This needs a bit more explanation, consider this:

1.Why is the advice being sold?

Think about it if someone is really a good trader why are they selling advice? The answer is most advice is sold by writers and failed brokers who can't make money from trading and simply make it selling advice!

You have seen them earn 10,000 a month easily, win on 70% of trades, an automatic way to make profits etc

Well if I could do that, I would keep quite and make myself a millionaire and wouldn't bother picking up a few hundred dollars selling the advice!

A bit harsh?

Maybe, but the above is true for over 90% of the advice sold on online forex trading.

Now not all advice sold is bad but the vast majority of it is and even if you do some advice that is good this presents another problem.

2. Can you follow someone else with discipline?

You will find it difficult to follow as it's not yours.

You need to have confidence that the logic works and will work, even through periods of losses, otherwise you will not be able to follow the advice with discipline.

Many traders can't do this as they did not come to their own solution they can trade with confidence or discipline.

The fact is

We live in a society that teaches us to consult an expert or someone else about almost everything.

We are not taught to find our own solutions, but the fact is if you want to be successful in anything you need the following:

Confidence, discipline and courage.

This you give to yourself and cannot get from someone else.

If you want to be a success

Then you need to learn and teach yourself a method you're comfortable with and that's a lot easier than most traders think.

If you read stories of the great traders you will see they all came to their own solutions and applied their own methods ( check out Jack Shwager's great books that interview some of the best traders of all time in Market Wizards and The New Market Wizards ) all of them built their own methods and that's why they became successful.

If you think about it no one will give you success it's up to you to make yourself successful and that goes for trading as well as most other ventures in life.

Do your own research, derive your own method and you will find the success in online forex trading that you desire.

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