Forex Trading Advice from the "Experts"

Unfortunately a lot of what I am reading lately is the same old cliches, just rephrased, and a whole lot of blah-blah-blah thrown in for good measure.

For example:

Trader’s Corner:As a trader I learned how to learn from my own mistakes and from the mistakes made by other traders. The most common mistake is not to admit that you are wrong, accept the consequence of the wrong decision and close the trade. Instead what most traders do, they let their pride takes over and they hang on to a losing position because they are afraid to admit that they were wrong. Pride has no place in the market, pride can lead to devastating losses, especially when the trader had a successful run and feels invincible. I’m only proud of one thing, that I have no problem admitting when I’m wrong and move on to another trade, which is why I use stop loss to minimize the damage of my mistakes. Mistakes should be used as a learning experience, I may not know all of the things that work, but I do know what does not work and will not repeat the same mistake twice, or at least not the third time.



Now, did you learn anything from the above?

I thought not.