---

You Are Your Own Worst Enemy in Forex Trading.

Forex traders face a number of factors that may go in the way of their prosperity, however, being their biggest enemy are certainly one of the worst. Many traders end up being bankrupt as a result of acquiring poor habits. Let's examine some of these trading behaviors and why you might improve them.

Take look at the best forex brokers review and pick out the best apple from the farm.

Refusing to Admit That You Can Be Wrong

The most successful traders are putting in a lot of hard work on their trades, analyzing the markets looking for trading chances, however, you may get unlucky with the trades you think you are putting in. You must not refuse to let go of it in this situation. 

The dumbest thing you can do is to become uncompromising and insist on being correct because you've analyzed everything. Although you've got the confidence that this will still work out, it's best to not keep this transaction open.

Pick one of the top 10 forex trading platforms to make the right choices and trading strategies for profits.

Not Letting Your Edge Pay Out

It is also one of the deadliest feelings a trader may encounter; FEAR is one of the worst feelings. In response to fear, a trader may become cautious and will hold on to losing trends rather than allowing the price to go in the direction of the trend. 

This is in contrast to traders who engage in the practice of 'hunting losses' [an established negative tendency]. Due to a lack of self-discipline, these two things happen. Your edge must be allowed to run its course in order to take leverage of the prevailing trend and make a profit.

Using Too Much Leverage

Leverage is very essential for a forex trader, thus without it, earnings earned are little. The only way to generate large gains is to have large amounts of capital to trade with. The risk remains, however, that several traders always have the mindset of a gambler wherein they think they can pull off the 'huge payday' that would lead to a lucrative payout. 

As a result, they employ excessive leverage hoping to earn outsized profits. These individuals are exposed to higher dangers, and they eventually go bankrupt. To be continuously successful, traders should aim to earn modest gains.

Leverage the best UK forex traders to earn money in the forex markets.