Kreslik.com - traders community since 2006

A friend at work got really into it, he would constantly be on his phone checking the market and whatnot. No one was interested in it but after a year I ended up asking what it actually is. He gave me a quick ‘Forex 101’ in our break to start in forex.

As a former trader on wall street with over a decade of experience, I can tell you that the number one mistake new traders make is that they are unwilling to cut losses. This causes the large majority of daytime / retail traders to lose money. Every time you put on a trade, you need to tell yourself...