In any event, back on topic…  Forex Nitty Gritty could very well be your entry into taking matters into your own hands, particularly if your worried about equities, but at the same time unfamiliar with Foreign Exchange trading. 

Borrowing from my official Forex Nitty Gritty Review, the TRUTH–If you don’t really understand HOW to profit with Forex trading, or, if you are NOT WINNING on your Forex trades, you need to figure out WHY. You are doing something wrong–And we bet our reputation (and it’s a good one) that you’ll find in the Forex Nitty Gritty what you’re doing wrong and HOW to correct it. This isn’t a get rich quick, black box, automated program–No robots here, sorry. This is an absolute TAKE CONTROL OF YOUR OWN TRADING course.

You can read my complete review here. Thanks for visiting… See ya.

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The information is sourced from a suvey of over 500 experienced futures brokers querried about what, in their minds, caused most traders to lose money. Some of the items on the list are redundant, but these as you may know, bear repeating — thinking about repetition being the mother of skill. In any event, it’s a worthwhile read that serves as a reminder to avoid the pitfalls of trading at all cost… 

1. Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions.

Usually, they liquidate the good trades and keep the bad ones.

2. Many traders don’t realize the news they hear and read has already been discounted by the market.

3. After several profitable trades, many speculators become wild and aggressive. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”

4. Traders often try to carry too big a position with too little capital, and trade too frequently for the size of the account.

5. Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.

6. They fail to pre-define risk, add to a losing position, and fail to use stops.

7 .They frequently have a directional bias; for example, always wanting to be long.

8. Lack of experience in the market causes many traders to become emotionally and/or financially committed to one trade, and unwilling or unable to take a loss. They may be unable to admit they have made a mistake, or they look at the market on too short a time frame.

9. They overtrade.

10. Many traders can’t (or don’t) take the small losses. They often stick with a loser until it really hurts, then take the loss. This is an undisciplined approach…a trader needs to develop and stick with a system.

11. Many traders get a fundamental case and hang onto it, even after the market technically turns. Only believe fundamentals as long as the technical signals follow. Both must agree.

12. Many traders break a cardinal rule: “Cut losses short. Let profits run.”

13. Many people trade with their hearts instead of their heads. For some traders, adversity (or success) distorts judgment. That’s why they should have a plan first, and stick to it.

14. Often traders have bad timing, and not enough capital to survive the shake out.

15. Too many traders perceive futures markets as an intuitive arena. The inability to distinguish between price fluctuations which reflect a fundamental change and those which represent an interim change often causes losses.

16. Not following a disciplined trading program leads to accepting large losses and small profits. Many traders do not define offensive and defensive plans when an initial position is taken.

17. Emotion makes many traders hold a loser too long. Many traders don’t discipline themselves to take small losses and big gains.

18. Too many traders are under financed, and get washed out at the extremes.

19. Greed causes some traders to allow profits to dwindle into losses while hoping for larger profits.
This is really a lack of discipline. Also, having too many trades on at one time and overtrading for the amount of capital involved can stem from greed.

20. Trying to trade inactive markets is dangerous.

There are more rules to consider specifically for Forex Traders. If you are seriously in a learning mood, head on over to The Forex Nitty Gritty; definitely a preferred site for learning Forex.

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We invite you to check out our review of the Forex Nitty Gritty on our Forex Beta Testers Reviews Page and discover some basic facts about what’s being called… “The best basic Forex course available at any price.”

Speaking of basic facts, TRUTH is if you don’t currently understand how to make money in Forex, or, you’re trading Forex and losing your shirt, you need to take a step back and find out why. We strongly believe that what you will find in the Forex Nitty Gritty is a brilliant way to finally uncover “the mystery” behind successful Currency Trading and how to avoid the pitfalls. In fact, we’ll go out on a limb and say that FNG is an absolute godsend to frustrated Forex everywhere.

But of course, you can be the judge of that. Continue on to read our Forex Nitty Gritty Review.

As always, thank you for visiting Forex Beta Testers.

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Forex Beta Testers have implemented a simple set of rules to follow when Evaluating a Forex Trading Method, course, system or program and today we are happy to share them with you. First and foremost, any Forex trading method you consider must be complete. By complete, we mean the trading method must teach you the following:

1. Conditions

The precise conditions under which you can consider a Forex trade to be entered into. These are known as the “setup” conditions and refer to the technical indications (usually) that a Forex trade possibility exists.

2. Entry Point

The exact point at which you would enter into a Forex trade (price). This refers to the Entry Point (or Entry Rules) and means the price at which a Forex trade would be executed.

3. Rules

Rules for establishing initial and ongoing Stop loss marks for an open Currency trade. As part of Risk Management, it is imperative, especially in Currencies, to have Stop Losses ALWAYS in place. If a Forex trading method or Forex trading system does not teach or define these, you should abandon it. The upshot being that without effective stop loss management you can be easily wiped out in a single Forex trade should the market move against you.

4. Exit Strategy

The exact points and an effective strategy for exiting a Forex trade. Unlike stocks, you will rarely, if ever, find yourself holding a Forex pair position in the markets for extended periods of time. Therefore, it is also important that a method teach you a strategy for exiting a Forex trade once that trade has become profitable.

Combined, these four elements will help you to eliminate chance plus, actually Streamline and Optimize Your Forex Ttrading process. Without any of these, no Forex trading method, system or program should be considered because in each individual case, traders will be exposed to steep losses or taking poor positions. Keep in mind, not every setup will execute into a trade, nor should every Forex trade be taken.

Once implemented, these rules will help to protect you both in evaluating and executing the method when trading Currencies.

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Bill squeezed all the Forex Basics he could come up with into a digital training course that’s better than most high end courses out there. Because it’s digital, you can watch it INSTANTLY… and the price, well, you’ll be amazed.

Hundreds of beginner Forex traders are out there right now “doing it”. They’re trading the markets the INDEPENDENT way. Is there any other way? Yeah, the uninformed, uneducated way–Boo! Anyway, these new Currency traders are confidently making their own trading decisions and they don’t have to listen to anybody but themselves. So if you’re on board yet, just take a quick look at Bill Poulos’s Forex Basic Course. We think these methods rock and by the way, you don’t have to be a beginning trader to take advantage of these tested strategies. Go get ‘em!

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