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Hope – Hopeful traders are closely related to gamblers. Presented into market ‘hoping’ they’ll make moola. They place trades and ‘hope’ heading go within direction. Hardly ever let bad trades meet even worse trade hoping the market will turn and bring them for you to profit. They often let good trades turn bad whenever they hope the market will in which bit extra and all of them a few more pips. Hopeful traders have no real plan and use little market analysis inside trading. However similar to a novice snooker player who simply ‘hits and hopes’.
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