10 biggest forex trading mistakes and misconceptions

Nial Fuller's newest article "Top 10 Biggest Forex Trading Mistakes and Misconceptions" , just put out today, is a pretty good read. He really goes over what the major mistakes are that most traders make, he then gives some solid insight into these mistakes and directs readers to previous articles that give more information on each topic discussed.

For anyone looking to find out more about nial fuller's trading course, I suggest you read some of these nial fuller reviews, it is an unbiased review source that traders can check out to read some real testimonials that other member's of nial's trading community have written.

What all do you get with Nial Fuller's trading course?

After following Nial's commentary for a number of months now, I will say that his member's back-end commentary is really one of the most amazing learning tools ever. The thing is that when you buy his forex trading course, you get access to all course materials, member's videos / articles, the price action discussion forum, member's daily commentary, email support from nial fuller, and he adds member's articles and videos periodically. You get all this for a one-time fee, no on-going subscription fees like James16 group or anything of that sort. So, I feel like Nial's stuff is the best way to learn how to trade.

Trading with Confluence

The concept of trading with confluence is something that is very interesting to me and that I learned from my mentor Nial Fuller. The idea of trading with confluence revolves around waiting for price action to form a strong signal near an important support or resistance level, moving average, retracement level, or other "confirming" indicator, although Nial Fuller does not recommend trading with "lagging indicators" except a few moving averages which he discusses in detail in his forex trading course.

Why you should not trade the news.

Many traders get stuck in the trap of trading the news by over analyzing every single economic report that comes out and trying to guess what the market will do in response to it. It is very easy to develop this bad habit if you do not have a clear understanding of why trading the news is dangerous and essentially pointless. If you are basing your trading decisions of off what you think will happen after an economic report comes out than you are just guessing and really have no better chance at a winning trade than if you were to flip a coin. Let’s discuss the reasons why trading the news can be one of the worst things you can do for your trading account.

First off, markets move on expectations of future events, often when the actual event or news release happens the move is either over or ready to come roaring back the opposite direction that the news report implied. This is why you may have heard the term “buy the rumor sell the fact”. However, it is very easy to get sucked into the trap of fixating yourself on one specific economic report that looks like it could really move the market in a certain direction. Once you convince yourself that what you expect to happen based on a news event is what most likely will happen, you have basically dug your own grave for your trading account.

You can avoid this entire trading pitfall of trading the news by remembering two things; price action reflects everything that is happening in the markets, and prices are contrarian. Price action analysis will show you the likely direction the market is expecting before any economic report is released. A quality forex trading course will give you specific setups and a unique way of looking at the market via price action analysis that will allow you to make your trading decisions based off the real and solid data reflected on the chart. Price action contains all the information you need to be a successful forex trader. You do not need to over analyze every single economic indicator and pull your hair out with frustration by trying to figure out what will happen next. The only thing you need is price action analysis. Most professional traders have been consistently profiting from price action for years without even so much as a thought about economic releases.

Prices in any market are inherently contrarian. This means that usually price will do the opposite of what it appears should logically happen next. This is why many beginning traders have so much trouble and lose all their money and then some. You really need to understand that often when it looks safe to enter a trade, or a market is breaking to new highs or new lows, this is the exact time the amateurs are getting on board because they feel safe about entering. They are trading off of emotion because they have no real game plan or trading strategy. Price action will tip you off when a move has run its course or when the dominant trend is ready to resume. There are specific price action strategies demonstrated in a good forex trading course that will give you the edge you need to survive and thrive in the contrarian world of forex trading. I can tell you from personal experience if you try to trade based off emotion with no real education in price action you will end up buying tops and selling bottoms. Markets are by nature extremely contrarian and the only real way to read what the charts are telling you is by analyzing and developing a trading method around price action.

For more great trading articles click here: Forex articles

Forex Trading Videos

Forex trading videos can be a great tool to learn how to trade the market from. Being able to see the method you are attempting to learn in a video format is a big advantage for the aspiring forex trader. There are some really great forex coaches out there who are professional traders as well as great teachers. These are the people you will want to learn from as they not only talk the talk but also walk the walk of their trading method. Many people are more visual learners and as such they learn quicker and better from video formats as compared to text formats. For these people forex trading videos can be especially useful in speeding up the learning curve.

Some forex educational websites offer free forex trading videos for you to learn from. These are really great tools because they provide you a different perspective into the material being offered, and free of charge as well. Forex videos abound on YouTube and other video sharing outlets, but unfortunately many of them are not worth watching. It is no easy task to find a series of well produced and well explained forex trading videos, but there are some out there made by experienced professional traders who have already walked in your shoes and are great at explaining their ideas. These are the forex mentors that you want to learn from, free forex videos put out by top notch forex mentors will always be the most useful.

Forex trading videos can be a great tool in your educational arsenal. Do not underestimate the power of their ability to inform you in a different light on the intricacies and nuances of the particular forex trading strategy you want to learn. If you cannot find any quality forex trading videos regarding the method you want to trade by than it is probably safe to say the method is not very profitable to begin with. The best forex trading videos are ones that are easy to understand and explain a trading method that makes logical sense yet seems highly effective and relevant. Do not be fooled by complicated trading methods or trading videos that offer a seemingly overly-complicated method, more is not usually better in the world of forex trading methods, the forex trading videos you learn from should reflect this logic.

Learning to trade the forex market can be a difficult endeavor to tackle, but with the right combination of forex educational tools, especially forex trading videos, you can make this process much easier on yourself. Don’t be fooled by fancy forex websites that aren’t offering any free educational materials or videos, these sites are generally just trying to sell you something and don’t really care if their product truly works or not. Honest forex educational websites will have numerous high quality forex trading videos offered for free as well as a plethora of other free educational materials. Trading the forex market is not technically difficult, what is difficult is finding someone who can explain it in simple terms that make logical sense in the context of price movement. Forex trading videos are one of the best mediums for a great forex mentor to explain his or her trading method to aspiring forex traders.

What is the Best Forex Trading Course?

Finding a quality forex trading course that actually teaches you how to profitably trade on your own can be very difficult. Many forex educational courses consist of overly complicated indicator based trading methods that only end up hiding the price action setups that occur naturally as a result of market dynamics. Beginning traders often do not know what to look for when trying to find the best forex trading course out there; this article will give you an overview of some of the features that you absolutely want to see in a trading course.

The first thing you should ask yourself before buying a forex trading course is, what style or method of trading is this course teaching? The bottom line is that simple is better when it comes to trading any financial market. Any experienced or professional trader understands that mind-set and discipline are the determining factors of success in regards to forex trading or any trading for that matter. This is the main reason why a simple trading method is always going to be taught in the best forex trading course. A trading course that is either very expensive or very technically complicated is most likely written by someone who has not figured out how to consistently profit as a trader yet. The best forex course will be written by a professional trader who naturally will be using a very simple method, such as price action trading, because they have realized that complicated methods only work to damage your market mind-set.

The next big issue in regards to finding the best forex trading course is finding out who wrote the course and what kind of experience they have. What do you know about this person? If you can’t come up with answers to either of these questions than its time to run for hills so to speak. An educational trading course written by a professional trader will be backed by years of real market experience and trading success. You want to learn from someone who is teaching you with the same simple strategies that they have been utilizing successfully for years. Essentially what you want is professional forex coach; most people selling a trading course hide behind a fancy webpage that promises big results with little effort. The best forex trading course will be written by a pro. trader who readily puts himself or herself out there and isn’t afraid to stand behind their product.

Finally, a high quality forex trading course will not just be a trading course. It will come with other valuable learning tools such as educational forex videos and articles and on going support. Too many people are just trying to make a quick buck today in the world of forex education. It can be tough to tell the charlatans from the genuine professional trading educators; however, generally the genuine educators will offer numerous free resources in addition to the product they are selling. The best forex course will be backed by periodic material updates as well as numerous other learning resources like trader forums and instructional videos at no additional charge. Take the time to learn a little about the forex trading course you are buying and the person behind it before you buy it, learning from a genuine forex mentor will reward you in more ways than you know.