To earn as a professional currency trader I know how difficult it can be money on the Forex market. It is a known fact that most people who indulge themselves in the Forex market- just ask any Forex Broker exhausted as he is, dormant, Trading accounts they have on their books.
The Internet is flooded with sets, fail between 80% – 95% concerning those who have tried, and then not in the trading game. Although there is no official number, however, it can be concluded that this is a very high percentage.
Why is this so? I believe that it is in connection with a number of important factors, which I discuss below.
Unrealistic expectations of the traders
I think a lot of people, putting them in the Forex Arena for the first time, a totally unrealistic idea of what is involved to be a successful Trader and have unrealistic expectations of how much time, money (capital) and efforts to be successful. There is no doubt many reasons why people think that Forex trading is an easy way to make money, but I think that the unrealistic expectations of many investors around the world, especially the ruthless Web marketers of various Forex trading systems, automated Trading robots and so called Forex типстер Guru. These soulless promoters focus your Marketing efforts on unsuspecting beginners, while the claim that a lot of money with your product or service requires a little more than a few clicks of the mouse.
These products and services what I amounted to, as a large Online Forex or ГЦЛ. Here you need to check a little reality! Everything is very simple, if all these products were good, we all give up our jobs and leave the money on our Bank accounts just a few clicks of the mouse, while the world’s largest banks fire traders could you a Million and replace them with $97 automated trading robots. The sad fact is that these things work over time!
No Forex Training
Another fact is that many traders have simply been confronted according to the Forex or training are trained, and as a result, over time, fall into the sword, with the reality of this relentless market. Mind you, I’m talking here about General education, I am talking about Forex education. Forex trading, like any other profession – you simply cannot just start to successfully trade Forex without the appropriate education, practice or training, but people think that you can, and it will soon be different. It окопная war there, and you just have to be ready!
A further important cause for the failure is that many people are too emotional when it comes to trading, and let your heart, not the head to make the trade. Forex-is a lottery in many ways, and factors such as facts, logic, common sense and experience should be paid, instead of killer emotions of greed, fear, hope, anger and pride destroy their Trading accounts. I would so far as to say that the Person must have a certain type of personality to succeed at Forex – not all cut out to be traders, especially those, which is something I as an emotional discipline is missing Let’s be honest, here we have it with the money and it takes a certain type of character to stay cool, calm and collected, when things go wrong.
Inappropriate Trade Systems
No Forex trading system (or “strategies”, as many people call it incorrectly), or the use of inadequate or incorrect, and other causes, which is why many traders fail. Commercial systems exist or are developed, in order to dealer about the lens and systematically evaluate the trade based on the use of statistical indicators to help traders the risk or probability. Like many other things, some Forex Trading systems are better than others. But another Problem with them is that you must style your own Trader, personal Trading,. What a dealer may not work on the other. For example, if a trader prefer the Intraday trading, you must have the corresponding short-time-System. In addition, long-term Trader should use, say, a daily Trading systems. Therefore, the selection of the Trader and Trading System is another key to success in trading or rejection.
What is the solution?
Although I have singled out a number of factors that I think contribute to a relatively rapid demise of a beginner Trader on Forex, the above-mentioned factors can not be used in the Isolation made. They are all factors and combinations that brings many Forex traders to their knees.
So as we fall to us empty? Now, there is no magic formula, at least I have not seen it yet. I have already mentioned that some traders are there what it takes, and some do not. It is simply human nature, and must take. However, if a Person firmly believes that you want to stay in the game, no matter what it takes, my simple prescription is as follows:
For starters, you do not be gullible and believe this Forex product adverts and Web Sites, as many potential customers for so little.
If you are serious to be a successful Trader, get Forex education. There are many good free Tutorials, resources and Web-Sites on the Internet, as well as the evening courses paid for. After you receive your training, you will understand the way, why do all of that, what do you do that helps to overcome some of the above mentioned emotional issues.
The practice of financial management of money. Only trade you can afford to lose, and you will practice in trading with just 1-2% of your Trading capital on every Trade. You will be amazed at what it can do to your overall Shopping confidence. The leadership of the money-Management and methods courses in the most Forex, the value of salt. Rational methods of capital management helps with some of the emotional issues mentioned above.
Do not rely on hope through the use of automated Trading Software and so-called tips from the experts for your future success in the trade. Really is better than fiction when it comes to a successful trading on the Forex.
You make a good, опробованную on Forex Trading systems that suits your Trading style. For those trading Forex on the daily