In order to avoid overtrading have a trading plan and don’t deviate from the plan, be it on a demo account or a live account.
Hi @elenmirie - I’m in need of a good trading book and just took a look at this - it seems Alexander Elder is a stocks guy, would you (or anyone else here ) say that there are parts of this book that are irrelevant if you’re forex trading or is it all good stuff?
His trading principles are relevant to anyone. You just have to filter for what you are interested in.
Of course most traders fail, mainly because they don’t stick to and learn one system before venturing into another, and secondly because they don’t have a good money management system in place to protect them from losing trades.
The beginner's guide to FX trading