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A little bit of knowledge is a dangerous thing and its no different when it comes to Forex trading. A lot of forex traders end up making basic mistakes that could be avoided. This this the second in a series of three articles we look at some of the most common mistakes that traders continue to make.

The difference between creating a successful Forex trading portfolio and losing money can be a thin line. Creating a successful account can become a nightmare if fall into the trap of making the most basic of mistakes. In the third part in this series of three articles we highlight some of the most common trading mistakes that are commonly carried outs by traders.

The difference between Forex trading and gambling is simply the presence of a credible and sustained strategy. Most Forex traders fail to prevent really basic mistakes and as such are more gamblers than actual investors.

In the industry of speculative trading there are only two types of brokers that are allowed to take part in forex trading. The first one is the market maker who has potentially more power to perform speculative trading compared to the other. The less powerful, and more often exposed to controversy that led to its early sunset, is the retail Forex broker.

10 pips per day or 20 pips per day, is this a lot or little? It might seem like not a whole lot at all. If you look at Forex market graphs you will see constant movement, and this movement is by far bigger than 10 pips or even 50 pips.