The list of mistakes is in no definite order of significance, make any of them and you’ll lose. Trading Breaking Stories Simply a dumb way to trade yet countless traders do it. The facts are there for everyone to see but all traders see them differently and draw their own conclusions from news stories, with their opinion colored by the feelings of greediness and terror. The facts aren’t important, its what folk think about them that counts, never trade breaking reports. The Fibonacci Sequence is a special and intriguing set of full numbers that, as far as anybody knows, runs on indefinitely. This sequence was first discovered and written of by the mathematician and thinker Leonardo of Pisa ( aka Fibonacci ) in the year 1202. Now, the Fibonacci Sequence has many interesting properties–not the least of which is that it was first discovered by Leonardo when he was trying to work out how many pairs of rabbits he might have by the end of one years time if he started breeding only one young pair ( barring any accidents, rabbits do not die in only 1 year, so he’d have all the rabbits that were bred, and the 2 he started with, at the end of one year ). This fact of how he discovered his famous sequence means it has its roots in really practical applications, not abstract mathematical ideas. Fibonacci Retracement is a technical trading tool for presaging the chance a given finance assets price will retrace by a major amount and, then, find support or come up against resistance at certain key Fibonacci levels before then moving once again in the first direction it took before the retracement. Here’s a useful story about
Bill Poulos Forex. In reality , these key Fibonacci levels are found by making use of the key Fibonacci proportions, which are twenty-three.

The above mistakes are simple to avoid, so take care you avoid them or you may join the 95% of losers.