Before we go any further, we will tell you the following things before you consider whether to trade: 1.
All of us lose money on some trades.
90%, mainly due to lack of rules, practices, discipline and poor fund management rules.
If you are an intransigent person or a super perfectionist, then you should have a hard time adjusting to trading because all traders lose some money at some point.
2. Transactions are not for the unemployed, low income, credit-card debt, people who can’t pay their electricity bills or put food on the table.
You should have at least $10,000 in traded funds (in mini-accounts) that you can afford to lose.
Don’t expect an account that starts with a few hundred dollars to quickly become a billionaire.
Is one of the most popular speculative markets, based on its enormous size, liquidity and currency trends.
You would think that traders all over the world would make some gains, but the truth is that only a small percentage of them succeed.
The problem is that many traders enter the foreign exchange market with the illusion of making a fortune.
In fact, they lack the discipline needed to learn the art of the deal.
Just as most people generally lack the discipline to diet or exercise three times a week and if you can’t do that, how do you think you can succeed in one of the most difficult but financially rewarding careers known to man?
Short-term trading is not for amateur traders, nor is it a quick way to get rich.
You can never get great returns without great risk.
High-risk trading strategies showed inconsistent trading performance and large losses.
If a trader does this, there is no trading strategy — unless you consider gambling a trading strategy.
Forex trading is not a get-rich-quick way Forex trading is a skill that takes time to learn.
Skilled traders can make money in this area.
However, like any other career, success doesn’t happen overnight.
Forex trading is not a piece of cake (as some would have you believe).
Think about it. If it were a piece of cake, everyone involved would already be a millionaire.
The truth is that even experts with years of experience regularly lose money.
Remember this: there are no shortcuts to forex trading. It takes a lot of practice and experience to master.
Practice trading through mock accounts until you find a method that you know well and can objectively and easily execute.
It’s basically finding your trade.
