Learning Wrong Trading System

Serious Manual Trading Problems

Emotions. People get greedy very fast when they enter trading. You end up wanting to squeeze every penny out of every single trade. When you miss a few Pips, it bothers you. This feeling can cause you to set your trading strategy aside and make serious errors in judgment. Some will even change their established rules to satisfy their greedy nature to try to make more money. Eventually, feeling this way will wipe out your account.

Fear is just as bad as greed. When you see a trade start to move against you, you need to remain calm. One trade does not define your long term success as a Forex trader. Many new traders panic and sell too soon only to see the price change direction and their trade would have been profitable.

Consistency. It's difficult to stare at charts for 8 to 12 hours a day. Searching and hoping for your trade set up to occur. Doing this week after week can wear you out. When you are not in the right state of mind, you will make mistakes.

If you have a few bad trades, which will happen, you may start to second guess yourself. Even if you spent weeks practice your strategy in a demo account with fake money, you still will do this. It's hard to see three or four losing trades and not start wondering if you've got it right.

Time. To learn manual trading properly, it takes a lot of time. I mean months. Seriously, if you are thinking about taking a course that says it's easy to do manual trading, they are not telling you the reality of this approach. It takes months of practicing before you get it down. Even then, if you've chosen a poor system you may never get there!

Automated trading systems are the only way to eliminate these problems and mistakes from your FX trades. You can get one of the automatic systems and cut out the months of practicing. New traders literally turn them on and start trading the same day. It's pretty awesome.