7 Things That Keep You Secrets About Forex Trading (True / False?)
There are at least 7 secrets from you about Forex trading. Especially when you talk to people who want to sell their products and services. But 7 things are important for you to know especially if you just jumped in this field of Forex trading. Let’s see what those 7 things are:
1. Trading Can Make You Fast Rich. True False?
Yes we have often with the lure that by trading we can get rich quickly. Ask any trader who has experienced, if this is always true. Wrong. Then what is in secret from you: Risk Factors. Forex trading takes ongoing dedication and learning. The rich quick scheme does not exist in the trading dictionary because there are risk components that are always lurking in all your trades.
2. Trading Makes You Boss For Yourself. True False?
Indeed if you only focus on trading as a career you can do it from anywhere, even from home with T-shirts and shorts. But the secret of you is: Not All Trading Will Match Hope. If the wrong position and this often happens then you could be your own trademark slave. Monitor the glass screen as you go and make your emotions more and more muddied with anxiety. Risk management is important to be a successful trader.
3. Requires Time and Experience For Success In Trading. True False?
Correct. Indeed experience is the best teacher and it takes time to always gain knowledge from various sources. Of course can be successful in trading but do not consider yourself a master of trades just because you win several times. Always update your information with news and technical systems to keep up with market movements.
4. My Trading System Is Better Than Other. True False?
You may be lulled by reading or meeting people who say their trading system is the best with all the visible complexity. If you think that your trademark system is the best and refuses to grow, then you are wrong. Trading goes on the market and the market is always changing. It’s good to learn to adapt which trading techniques are suitable for certain market circumstances.
5. The more you “insist” Want to Win Then Opportunity Big Lose. True False?
Correct. It is purely back to your psychology. One of our shortcomings as a human being is HAWA NAFSU: Greed (Greedy) & Fear (Nature of Fear). These two traits usually dominate traders who are still not experienced. The desire to always win and not to lose this can be your trademark killer. Accept losing if losing position and realizing that there is still tomorrow. The more you force then guaranteed your account will be burned.
6. You Can Fortunately Anytime With Trading. True False?
In plain yes it can be spelled out like that because trading continues to run and anytime you can enter the position. But the secret of you is: Not every time is a good time for trading. There are certain times that are far more potential to reap success. The Golden Hours may be appropriate as the name of certain times you should know where high liquidity where one session of the forex market closes in one country and open in another. Learn when The Golden Hours is and do not trade when liquidity is quiet.
7. Only Need Small Capital For Trading. True False?
To open a trading account today does not require much capital. Often people think that with small capital with trading it will instantly become doubled. There are things that are kept secret from you are: Your capital is your endurance in the face of the wrong position. You must be smart to set how much of your capital is worth to tradekan with the risk that the position could be wrong. Because if you risk your capital too big and the market is not as expected; then guaranteed your capital will definitely eroded out.