3 Lessons That Can Be Taken From Forex Trading
Nearly 90% of people trying to invest through forex trading have the same goal. They want to get unlimited money from the world of forex. But is this easy to do?
You can say making money from forex trading is very easy, for those who already know the ins and outs of this financial market. But how is that not? To find out the tendency of a currency to move they are still confused and do not know what to do, let alone get unlimited profit (money).
But if we remember further, there are many things we can get besides money from forex trading. In addition to experience from the world of investment, there are many more things that we can take from forex trading. If you pay close attention, you will find various lessons from forex. Then what is that? The following include:
1. Trading Really Requires Discipline
You may have seen an advertisement “Get 1000 pips in 1 month”. Or get an email from someone who is unclear and promises a percentage of profit in a certain period of time. Indeed, advertisements must be made as attractive as possible so that prospective buyers / clients are interested in the offer. But can it be that easy?
We don’t need to discuss these advertisements. All you need is flight hours and experience in advanced forex trading. Of course we will feel very satisfied if we do everything ourselves. All you need to do is learn and seek as much experience as possible.
Not that easy too. Can you be proficient in this investment world? Good experience requires very high discipline. As with other jobs, to be successful in forex trading you must be disciplined. In this world there is a definite unwritten law, “All Rules that we obey can bring life to be more comfortable”. Right right?
2. Trading Makes Us Get Out of the Comfort Zone
For most people, taking risks by setting aside funds / money to invest is something that is very shunned. No one wants to lose hard-earned money, especially by investing in an instrument that does not clearly reflect the returns.
For traders, of course this is very often found in every entry of their position. Worry about a minus moving position or a price that moves is not in line with expectations. When you open an order and you doubt the position, you will definitely feel uncomfortable with the order. Whether it’s a feeling of doubt, worry, fear of experiencing huge losses.
This is what makes the lives of traders far from a comfort zone. In each decision taken gives various reactions from the perpetrators as mentioned above. But behind it all, the work of a trader is more interesting than other jobs. It’s not an understatement of another job, but for a trader this job requires more extra energy and thought. If someone else sees the trader’s work, at first glance it just sits in front of the monitor and looks just daydreaming with a blank look. But if you look deeper, even though you only look at the monitor, the mind of the trader has traveled everywhere. Whether it’s imagining economic conditions in Europe, Asia or America.
I’m sure many of you have very high self-confidence when trading. However, trust that is too high is usually not accompanied by an alert attitude. This is what makes most beginner traders fail in the middle of the phase he is looking for experience.
When finding a trading system / strategy that feels suitable, usually these beginner traders start to underestimate the forex market. He felt that he was able to achieve consistent profit without seeking further information. The result is that at each entry position he does not have vigilance.
In forex, we need good emotional control. Usually a trader will take a position of “revenge” when he has just experienced a loss. Of course it has a good goal.
So the conclusion we can take in this article is that there is still much we can get from forex trading other than money. At a minimum we can know and get lessons to become more disciplined, careful, alert and clear-minded individuals.