The Forex market has changed through the years, growing in volume and expanding across multiple time zones.

Brokerage houses have changed, too, going online with sophisticated software and powerful servers.

Economic indicators and technical analysis have become more sophisticated, too, until the Forex market of today bears little resemblance to what it used to be.

But there’s one thing that hasn’t changed: most traders lose.

Despite all the advances in the Forex marketplace, the ratio of winners to losers remains low. Experts agree that the most hopeful number that can be advanced is a measly 10%, which means that 90% of all traders on any particular day will lose.

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Why is it that very few traders succeed in the Forex trading environment while the grand majority of traders fail to achieve success? Although there is no hard answer to this question, there are a few things that will put you one step ahead and will definitely put the odds in your favor.

The main purpose of this article is to guide you through some important aspects of Forex trading. But in a different way, instead of telling you what to do or the best way to do it, it will tell you what to avoid. Sometimes it is better to identify the main drawbacks on a discipline and then isolate them so we have the best results at a certain level of development.

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Indeed, you really do need to hone your skills at self-discipline and become a virtual Zen Master if you truly want to succeed in the fluid Forex market. Trading 24 hours per day (the market does close from Friday afternoon until Sunday) thanks to a network of inter-linked computers in financial institutions around the world, the Forex market is by far the largest and literally dwarfs the commodities and futures markets. Nearly 1.8 trillion dollars change hands each day and you can profit from the interchange of currencies—if you can control the four most dangerous emotions that tend to cloud judgment and cost you profits. These four emotions include:

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