Top 5 Reasons for Failure in Forex Trader

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As a Forex trader or someone who likes to learn how to trade Forex, you may have already read and heard that more than 95% of those who start trying simply lose money and then give up and only 5% manages to stay in a profitable Forex. grocery store. This is shocking and disappointing news, especially for those who like to become a Forex trader. But if you know why 95% of students in forex trading fail and give up, you may be among the 5% of students who become good traders.

1. Forex is different from all the other companies you know!

Most people think that Forex is like all the other companies they have already tried. Working hard is the foundation and foundation of success in any type of business. For example, a baker who starts working from 1 p.m. pm. 20 every day, he makes more money than a baker who works from 6 p.m. pm. 16.00 five days a week. People start learning and trading Forex with that background in mind. They sit at the computer for hours every day. They check several different currency pairs and time frames. They do not want to miss any commercial opportunity. They work hard and act excessively and eventually lose a lot of money and give up. Why? Because, unlike any other currency trading company, it is the currency market that should provide you with a trading opportunity. You cannot create opportunities. If you try to trade when there is no business opportunity in the market, you lose. And when you sit at the computer for hours every day while there is no business configuration, you get bored, lose your patience, and force yourself to take a position anyway.

If you like to become a good and profitable funded trading accounts, the first rule is that forex is another beast! It is true that currency trading is a home-based business, and in home-based businesses you are generally your own boss. But in currency trading, it’s the currency market that’s your boss. You can’t make him give you money. The Forex market should give you some money. You just have to be there to take advantage of the opportunities.

2. Lack of knowledge and experience.

Most people start trading Forex while they do not have sufficient knowledge about it. They only hear from some friends that Forex makes money. Then they open an account and start trading based on rumors and useless news or rules that they only hear from others. They lose all the money they have on their accounts in no time.

If you like to become a Forex trader, you have to learn it first. To learn forex, you don’t have to sign up for expensive education courses or buy expensive DVDs and books. You can learn it for free. There is probably free forex information on the Internet.

3. Too much knowledge

Sometimes not only does it help to have too much knowledge, but it can cause problems. When you know too much about currency trading, your overloaded knowledge will not allow you to make the right decisions. Every time you see a trade opportunity, part of your knowledge encourages you to trade and another part warns you to stay away. That’s why you always lose good opportunities and take advantage of bad opportunities, so you lose money.

4. Greed

You may think that you are not greedy, but try to trade Forex and you will see how greedy he is. Everyone is greedy when it comes to trading and especially currency trading. Greed must be controlled. Greed makes you lose your profits in the hope that you will earn more. It pushes you into over-trading, and over-trading has only one result: loss!

5. Fear

If you are afraid of taking positions, seek reason. You’re scared, probably because you’re taking too much risk. You trade money that gets in trouble if you lose them.

Forex may not be the main source of income for beginners. You must have an additional income while learning currency trading. When you have no other income and are trying to make money through forex, you will be very scared because you cannot take any risk. You need every penny of the money you exchange and you can’t risk anything.

Why use a Forex Trader robot?

Forex trading effectively means you need a trading style. A Forex trading robot can do this for you automatically. This article discusses the benefits of a forex trading robot.

Forex is becoming more and more popular with home traders who want to increase or diversify their income portfolios. Forex is the largest trading market with $ 3 trillion a day changing hands, most of it through computer-generated trading. The best thing for home operators is that it is very accessible to smaller investors operating from home. There are many online brokers who now meet the needs of the local grocer. They facilitate your participation in the foreign exchange market by offering online education, practicing trading accounts and the ability to trade with very small investments. In some cases, as little as $ 12.50

The other reason why trading is popular with small real estate investments is that with the experience and knowledge of some basic trading formats it can be quite simple to double your investment in a short time. Losing your investment is just as easy. The reason for this is that, like the futures market, you trade with a multiple of between 30 and 250 times your investment. Most people trade at 100 times their investment. This means that $ 100 invested by you will allow you to trade currencies worth $ 10,000 and a 1% change in the exchange rate, in your favor will bring $ 100, which doubles your investment.

Now, I mentioned that to be a consistent success with Forex 192.168.1.254, you need to learn, practice, and adapt different trading styles. Basically, it’s about using well-known and understood statistical tools that use business history to give you an advantage in predicting your business future. Using the standard forex trading software provided by your forex trading broker, it is up to you to initiate transactions manually using the criteria you have set according to your trading style.

With a forex trading robot, this is done automatically. And not only that. A forex trading robot can operate 24 hours a day, most deal with multiple currency pairs and do not suffer from the human feelings of greed or hesitation. They work according to their programmed rules, not emotional rules.