1. Giving up too shortly
Be careful not to give in on a good system simply because it goes through bad times. Look to the long term results. As long as your total results are profitable, do not get excited by successes or unhappy by mess ups. Treat them both as numbers and keep emotions out of it. 2. Acting too soon
If you are impatient you won’t be trading at the right moment and your results will suffer. Impatient currency exchange traders do not wait for the signals to be right but jump in and open a trade because they believe things might be on the point of going their way, or because they’ve not had an opportunity to trade for a bit and they are bored. Huge mistake!
3. Acting too late
Hesitation, on the other hand, generally occurs because you do not trust your fx trading system. You’ve got the signals but you need to wait for another movement or another indicator before you act. If you regularly end up in this scenario you might need to test your system further or cut back your position size so that you don’t feel so alarmed.