Forex Automoney: Have Enough Trust To Success
How can it be, that two different traders, will follow the same signals the system provides
, and one of them will close the position with profit, while the other investor will close the position with loss? It appears that this situation is possible due to one major reason: Trust!
There are few main mistakes that trader can make when there is a lack of confidence in the Forex Automoney system: a. When the market is going to the opposite direction to the signal, traders tend to close the position before it arrives to the stop-loss recommended by the system; b. When the market is moving to the opposite direction to the signal, some traders try to wait, and dont close the position on the stop-loss the platform recommended on; C. When the market is moving to the right position as the signal indicated, there are a lot of traders that are not patient enough to take a full profit as the platform indicated them, and they close the deal before it reaches the recommended point.
Of course there are other mistakes which can temper with the Forex Automoney system signals success, and can significantly reduce the chances to earn money by using the software, but these three are most common. The reason this kind of traders behavior seriously damages his chances to earn money by following the platform recommendation is: the involvement of the trader in the statistics model, which is practically the foundation of the whole system.
Forex Automoney platform, like any other trading system has its own statistics regarding profitable and nonprofit deals. For example:
Lets assume we know a trading system which for a long a period of time supplied 50% of profitable deals and 50% of non profitable deals. When the system is right, the trader earns 100 pips, and when the system wrong the trader loses 50 pips. In this example its clear that a trader will have profit by using this system over time (if he follows the system recommendation 1 by 1).
In the described example, a trader might make mistake c, which means he wont wait to win 50 pips on profitable deals, and he will close the deal after 50 pips. Some would mistakenly think that there is nothing wrong with such behavior, but in fact this kind of behavior is damage the whole statistic model the Forex Automoney platform based on. In the described example, after 10 or 20 positions, the trader will not have any profit (due to the 50% positions that will turn out to be 50 pips loss, and the other 50% will turn to be 50 pips profit).
From the above example we actually can learn that a trader might come to the wrong conclusions regarding one trading technique or another, due to unprofessional testing and analyzing.
Read
Forex Automoney ReviewPlatform, and learn more regarding key rules you have to follow in order to have successful trading.
From Michael Kahiri - MBA in Finance and Trading strategies.
by: Michael
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