Discussing three specific part-time Forex trading mistakes that one
must avoid to begin to improve part Forex trading strategies today.
If one one is not a full time Forex trader or one is in a full time
employment but one wants to trade the Forex market then one
is a part-time Forex trader.
This is the first video in the series of videos titled:
Combatting Part Time Forex Trading Mistakes Like A Rapid Intervention Force.
Be sure to watch the video in full and stay tuned for part two
Many part Forex traders are in a full time employment and for that reason they can only trade Forex as part-time traders.
The first mistake that most part-time Forex traders are making is to analyze Forex charts from a smartphone or tablet. Really, it is not the same thing to analyze a chart from a smartphone or tablet as it is from a desktop. The best approach is to use a desktop to conduct a proper chart analysis then only use the smartphone or tablet to execute the trades. Generally, Forex part traders do not realize that this is big issue but they are making wrong FX trading decision just because of that narrow view point ( smartphone and tablet) from which they are analyzing the chart.
The second mistake that part-time Forex traders are making is to place a trade while they are at work without placing a limit order to take profit at a profit target level. Consequently, a profitable trade may turn into a losing trade just because one has failed to set a limit order to close the trade profitably.
It is also a mistake to place multiple trades at the same time when one is at work. As one is working, one is not in control of those trades, therefore one can not quickly cut losses as soon as possible as someone who is a full time Forex trader. Indeed, it would be better for a part-time Forex trader to place one or two trades at a time.