There are several things you should avoid when trading forex to increase your chances of success:
1. Emotional trading: Avoid making decisions based on emotions such as fear, greed, or hope. Stick to your trading plan and strategy.
2. Overtrading: Avoid trading too frequently or with too much capital. It can lead to significant losses and can be emotionally and financially draining.
3. Lack of risk management: Avoid trading without a risk management plan. Always use stop-loss orders and limit orders to manage your risk.
4. Not using a demo account: Avoid trading with real money until you have practiced and tested your strategy on a demo account.
5. Following others blindly: Avoid blindly following other traders or signal providers without understanding their strategy and risk management.
6. Trading without proper analysis: Avoid trading without proper analysis of the market and the currency pairs you are trading.
7. Trading without a plan: Avoid trading without a clear plan, including entry and exit points, risk management, and profit targets.
By avoiding these common pitfalls, you can increase your chances of success in forex trading.