“Forex trading is very difficult. I rarely have a winning trade!”
“Forex trading is very easy. I only have one other winner all week!”
Two groups of Forex traders: losers and winners
Reread the two previous statements. These are two of the most important statements I often hear from friends trading Forex. These two statements are diametrically opposed to each other: a group of traders fined that currency trading is very difficult for them; they can hardly get a winning trade. The merchants in this group play with ropes try to become profitable merchants and can bring the chicken coop home. Dealers from another group are the happiest. They are still profitable in their industries. They are the winners of the foreign exchange market.
You look around and see others who are doing so well in currency trading and personal wealth gathering, even in trading for a living, some making thousands of dollars every time they trade.
Why 90% of Forex traders lose?
So why do 90% of traders not always earn money? What are the 10% of traders who make them big winners?
Until recently, currency trading was dominated by super-wealthy institutions and large corporations. If you are not well oiled and have deep pockets or a large amount of capital support money, you probably don’t even have access to currency trading.
However, this has changed over time, especially when mini-currency accounts have been created, leading to an increase in the number of people wishing to trade on the forex.
This led to a problem … and the problem started to get worse and exist today.
Currency trading simply explodes with more than $ 2 trillion in currency happening daily, this faster growth causing problems.
Many people get into currency trading without proper education and training as a trader. The ease of internet access made the situation worse. Many beginners simply go to websites, learn currency trading here and there, and start trading. Not that self-education is enough, but currency trading is such that those who succeed just don’t say how it works. The most successful traders are traders, their time is spent on their trading and researching trading kits, and they do not have time to market their trading signals on the Internet. For them, they are above all traders and not teachers, and there is simply no need to publish their skills or reveal their successful business secrets for free on the Internet.
Easy access to the Internet has led to a proliferation of websites with some common trading systems that are probably useful for currency trading. The popularity of currency trading has led to viral duplication of these sites with almost similar content until the vast majority of currency traders have received their “Internet education” and training to focus on such systems. , not knowing exactly when they are. Suitable for use and when not to be used at all.
Among other factors, this is one of the most important factors since a large majority of self-taught Forex traders make no money or are at best incompatible with their business. Most of them simply use the wrong tools or faulty trading systems and have not mastered their business or themselves.
1. Understand the foreign exchange market.
The Forex market is a system made up of many components that help maintain it. The currency card helps support the market by monitoring exchange rates. Each currency card follows a certain set of policies and features, and understanding how the FX Board works helps the trader to understand how the FX market works.
2. Invest only money at risk.
Investing in the foreign exchange market presents a great risk and traders should be aware of this. It doesn’t matter if the trader is working day or night and earning money in the foreign exchange market requires patience, discipline and a certain degree of risk.
3. It has a solid trading system
There are a number of forex trading systems on the Internet hop over to this website https://funded-traders.com/. It is up to the trader to decide whether he will form his own trading system or whether he will rely on other monetary signals from humans or machines. Today’s currency trading system is for nominal fees, which help the trader identify the trading record of a currency pair on a specific date and time. This information is sent to the buyer by SMS, email, RSS, etc. according to the choice of the seller.
Traders can develop their own currency trading systems by studying the two different types of analysis, basic analysis and technical analysis. These can be implemented according to the merchant’s business style, depending on the length of his stay on the market. If you have time on a daily basis, you can use a day trading system for Forex signals. A merchant can also develop long-term systems, such as a weekly or even monthly system, depending on the merchant’s needs.
4. Stay true to your system.
Foreigners who lose money only once stop hesitatingly abandoning their systems. These are not so easy to understand and losses are likely to occur. Highlighting the importance of trading system signals, if done, greatly reduces the likelihood of losing money.
5. Have realistic expectations
One thing that every trader needs to understand every day is that the foreign exchange market is unlikely to make a profit in a single day. It takes days of practice and experience to understand the market, even for beginners. Using your trading system correctly is essential to success. Any good system revolves around risk control and tries to keep losses as low as possible.