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Becoming a Better Trader: Trading Clichés, Fact or Fiction?

Becoming a Better Trader: Trading Clichés, Fact or Fiction?

Paul Robinson, Strategist

Paul conducts webinars every Wednesday, Thursday, and Friday. For details and a full line-up of upcoming live events, please see the DailyFX Webinar Calendar.

In today’s webinar, we discussed several trading clichés and whether they are really true or not. Additionally, we discussed ways to address these vague expressions which we so frequently hear.

The following are the clichés we discussed in today’s session: Psychology and risk management is 90% of trading; Trade without emotion; When in doubt, get out; You won’t go broke taking profits; Let your winners run and cut your losses early; You’re only as good as your last trade; The trend is your friend; Don’t catch falling knives; Buy the rumor, sell the news.

For full details, please see the video above.

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---Written by Paul Robinson, Market Analyst

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You can follow Paul on Twitter at @PaulRobinsonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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