If you want to learn currency exchange, you need to avoid the 4 deadly mistakes enclosed in this article; there not the only ones novice forex traders make but there certainly the most common; you make them you will end up a loser so beware of them…

Here are the 4 deadly mistakes that you need to avoid to enjoy forex trading success.

1. The mechanical trading system with the simulated track record

You will find them all over the net and people fall for these and yet they have never been traded and all have this disclaimer read it carefully and you will see why if you buy one you’re destined to lose:

“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

So what use is that? Read the rest of this entry »