The good news about forex trading is that there is dome good information out there to help traders. The bad news is that their is probably 100 times the amount of bad information. The difficulty is distinguishing between the two.

Here is what I personally consider to be the biggest myths about forex trading, and how to spot them.

For starters, you don’t need the greatest charting platform to make money trading forex. As a matter of fact all you will ever need from your charting platform is a strong data feed. All the rest of the stuff it has, is just filler.

Make sure to remember this bit of advice when you see an infomercial for the latest “bell and whistle” platform being sold for thousands of dollars.

All these shortcuts don’t amount to anything. People are selling them left and right, but nobody is having any success. The truth is you have to learn to trade if you plan on making pips.

Just think about how fishy all these shortcuts sound? Its supposed to make pips for you while you are asleep? You just know that can’t be right. If it was that easy everybody would be making money.

Noting screams scam more than these forex trading robots. For those that are unaware, these are automated trading robots that will trade for you on autopilot. I know it may sound convenient, but how realistic is it? Well, if you went by how many people lost money on them, you’d know that it’s pretty unrealistic.

The best piece of advice I can give you is that less is more. I know this may not be of use to you right now, but if you follow it, there is no reason why you can’t succeed. So if you are thinking about piling up one indicator after another on your charts, remember this piece of advise I just gave you and don’t do it.