Five golden advices for beginners

Thousands of beginner traders lose their money due to the same errors.

Discern bad ways from the truly right isn't easy. For "ways" I mean everything -like brokers, advices, trading systems- that can make you surely lose money. In other words, scams.

So I decided to create a brief list of things to avoid if you want to reach a long-term success in the forex market:

1. Beware of self made guru: Surfing the web you can find a lot of "guru", traders that claims to be self-made millionaire traders, sometimes claiming to have reached enormous amout of money in just some months. Forex is not a "becomin' rich fast" business, so beware from those guys. Anyway keep in mind that there are true and professional traders that are enjoying great success, but they are living theirs life, so it's difficult that they want to search you to force you for some dollars. To be honest, you shouldn't even trust me without any personal experience!
2. Holy Grail exist... but it's YOU!: There are no "holy grail" system, but only experieced traders that uses high probability entry and exits. That's all. So don't waste your time filling your chart with hundreds of indicators, use your time to find a simple strategy that suit you best... then master it!
3. Avoid Market Makers if you can: Those types of brokers can be a choise only if you trade on high timeframes and spreads/order speed aren't a problem for you. If you are a scalper or even an intraday trader, avoid MM and look for true ECN professional brokers. The differences are enormous.
4. Ignore signal services: Entrust those signal service systems is like gambling to me. That's because the difference between win or lose depends by others, and you even need to pay for that kind of service. Not a good deal. If you spend some more time to improve your trading skills maybe one day you will find the method to make money by your own, but if you won't it's better to change business.
5. If you can, look for scalping or intraday methods: I suggest you to look for scalping system. Why? because scalping involve less screentime, less binds and more gains. If you trade on high timeframe you'll need to monitor the market for much more time, because your orders will stay opens for many time. Anyway the best reason to prefer scalping is that you can make much more money in less time. That's because if you trade higher timeframe you'll make much more pips, but with less capital risk (less lots per trade) and your ROI gain will be tiny. If you scalp, you can use higher lots, and, with more risk, you will get less pips but much more money. 100 pips made with a scalping method are much money than 100 pips made on a long term strategy. And you need less time to make 100 pips with scalping than the other ways.