Today, trading on the Forex stock market is very successful. It should be noted that only recently there has been a stable growth of traders. Unfortunately, not all people have appreciated the benefits of this type of income.
For investors, Forex brokers offer a trust management service, namely, investing in PAMM accounts, the convenience of which can be assessed using the demo mode.
On the Internet, you can often find discussions on the Forex topic, they say, who earned how much there and is it real at all ?! Namely, because of the conduct of such discussions on the forums and in various chats, myths were born, which we will tell you about in this article.
It is almost impossible to make money on the Forex market, and if it succeeds, then no more than 10% of the initial deposit. Earning in the Forex market depends directly on the skills of the trader. You need to be able to buy on time and then sell it profitably. However, it must be admitted that only 10-15% of the large number of newcomers to Forex can make a profit. However, this does not at all justify the above belief. By the way, unlike direct foreign exchange operations with exchange offices, Forex participants use the so-called margin and leverage trading system.
When switching from demo mode to real one, the trader experiences new difficulties. It must be said here that this is pure, true, confirmed by many Forex participants. The point is that the transition from working on a demo account to real trading, as a rule, is fraught with certain difficulties. The fact that you are successfully trading virtual money cannot at all serve as a guarantee of your profit when working with a real account. Technically speaking, when moving from demo to real, only the speed of processing your order by the broker changes. You will no longer be able to conclude a profitable deal with a second jump in the market. Rejecting the assumption that the broker began to draw quotes, knocking down your stops and holding on to the execution of orders, waiting for a convenient quote (this problem is solved within the framework of the correct choice of a broker), in fact, when moving from demo to real, everything rests primarily on psychology. If you have mastered technical, fundamental and informational analysis, correctly follow the principles of money management, regularly win on a demo account, then a successful transition to real will be determined mainly by one factor - whether you are capable of treating your own money as a kind of instrument. Are you ready to not only earn but also lose money?
Forex trading requires large sums. You can start your own Forex trading with a minimum amount. This opportunity for individuals appeared with the introduction of the so-called margin trading. The point of margin is that to buy a certain amount of currency, you need to have only 1% of the contract value. The rest will be credited to you by the brokerage office at the time of the transaction. After that, the loan is automatically withdrawn back, and all the profit earned with its help remains with you.
In Forex, you need to turn to a guru in order to be sure of your earnings. In fact, there are exchange gurus in Forex who can predict market behavior with accuracy. However, as for the fact that it is necessary to contact them, this is a delusion. In fact, Forex gurus are respected until everything he predicts comes true, and it is not a fact that tomorrow the guru will not be mistaken. Therefore, there is no point in turning to a guru. However, it is easy to ask what and how it is worth on the exchange.
The key to success in the Forex market is a good psychological state. And this is true, this statement cannot be called a myth. Indeed, a lot of psychological stress falls on a trader while working on the stock market, which must be dealt with. It is the psychological aspect that will help the trader to pave the path to his enrichment. It must be said that experts note that a balanced trader can keep his deposit for a long time, while a trader with a shaky psychological state will certainly lose it. All this tells us that when trading on the Forex market, you should always be aware of your actions, while being in a positive mood.
In Forex, the main component is luck. Forex is an elite stock exchange. People who really know how to analyze market behavior with the help of certain tools, and most importantly, with the help of their head, make money on Forex! A bit of luck, of course, is present for one of the parties making a deal. However, all the main component is definitely not the trader's luck in carrying out a particular transaction. Usually, such statements are put forward by "burned out" traders who have not worked out so well in Forex as they would have liked.
It is not necessary to develop a Forex trading system. Here I must say that this is a real myth. A trader who really wants to make money on the Forex stock market must necessarily develop an individual trading system, which he will follow in the future. Usually, a novice trader develops his own trading system during training. This is a long-term process. In the future, the trading strategy should be constantly adjusted taking into account the realities of the market. A trading methodology can include a trading strategy and a trading plan and daily routine, and any other rules that form the mentality of a trader. The trading methodology is deeply individual and is created by each trader for himself.
It is possible to work in the Forex market, however, following the clear rules that can be found on the Internet. This statement is neither true nor myth. Rather, it can be called 50% true and 50% myth. The truth is that really, in order for newbies not to make mistakes at the beginning of their career, they will have to study the advice of professionals. However, there is no need to follow "clear rules" further, because a trader is an individual trader in the foreign exchange market. If everyone trades according to the same scheme, then only 1% of the total number of traders will receive profit. Therefore, remember that using the advice of professionals, and perhaps their trading methods, is only at the initial stage. Next, you yourself must develop a scheme by which you will trade, and it should be purely individual.
Forex trading is a variant of gambling. Forex is an international currency exchange market where hundreds of banks, investment companies and individuals actually make money. The only similarity between Forex and casinos is that if you make deals hoping only for luck, you can either lose your capital or increase it several times in a short time. The difference is that in a casino you cannot constantly win, but here it is quite possible. In addition, no one will give you a loan to play in a casino, whereas in Forex such a loan is initially assumed under the terms of the "game". Treating Forex as a business, working systematically and seriously, you can reduce the number of failures to a minimum, and the number of profitable trades can be constantly increased.
Special financial education is required to trade Forex. Anyone with any education can trade Forex. Intelligence, self-discipline and the ability to restrain emotions are important here. By learning how to work in the foreign exchange market, you gain valuable and useful skills. Here they learn to quickly respond to changes in data, to compare the huge flows of stock information, on which the analysis of your future transactions is based. Many successful traders had no higher education at all, but had the necessary analytical skills.