Do you know what is the biggest mistake that Forex traders make? It’s not about a strategy, and it’s not about money or risk management. The number one mistake that traders make is trusting their beliefs. See, trading Forex is not about what you believe, it’s not about your hunch, it’s all about mechanically following a strategy.

It’s very easy to give in to emotions, to follow your beliefs, which in reality is only an obstacle. Trading is all about getting into a mindset of following technical signals and following mechanical rules. Yes, some decisions require your decisions “on the spot”, but that is not to be confused with emotions and beliefs.

Trader’s psychology is often overlooked, but it really is that important. A trader with the wrong mindset can lose with the best strategy, and the right mindset can get you trading in profit even with an inferior strategy.

I hope you see how important it is not to make this mistake. Forget all your beliefs about Forex and markets, don’t base your decisions on what you believe, base them on what your strategy tells you.