Forex Trading Myths - Beware Losing Money With Them - Page 101
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Thread: Forex Trading Myths - Beware Losing Money With Them

  1. #1
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    Forex Trading Myths - Beware Losing Money With Them

    There are some common forex trading myths that have been making people lose greatly. 95% of people trading online make losses as a result of following these myths. Read them to avoid making unnecessary losses when trading online.

    1. Some people think that they will make great profits by following what others are doing. You will often receive email ads telling you on how certain signals are good. Unfortunately, most of these techniques do not work or else why would these people keep sending ads on teaching you how to trade instead of them trading themselves or managing hedge funds?

    Come up with your own ideas on trading forex since the market is unique and following what others have done will make you incur great profits. Some signal are however good but you will need to customize them.

    2. Day trading is a risky investment to trade in. Newcomers have often taken the forex trading myth that the more you trade the more profits you make. However, volatility of the market is greater on short term traders and hence investors are at a greater risk of losing their bankroll. Many new traders have ended up losing their capital since they are convinced the more they trade the larger profits they will make.

    3. Working hard will make you a millionaire is the worst forex trading myth since making profits all depends on trends taken by the market. You cannot try to force your own trades while forex is all about following trends smartly and determining when you will make profit. There is no one who can influence these factors by working hard and hence the best thing is through planning smart decisions and relaxing

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  2. #1001
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    this is a pure business where all the thing to make us survive and grow to be a real trader are enough skill, knowledge or experiences and support them with good understanding or stable psychologies.and so why as the important thing here is spend the time for learning and practicing to get the skill and build the foundation and there is no other way which will make us to be a good trader instantly and so we see all depend to us, we can not stay following the others to get the success

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  3. #1002
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    Forex is one trade we all will look forward to make profitable success with but some come into this trade with the wrong minds because they believe the wrong myths that makes them see this business as an easy place to make money. Ask most newbies why they want to trade, they will tell you is about making huge money and buying their dream houses and cars. The process is possible but wrong myths will make it sound as if it's an easy thing to achieve once you start trading.

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  4. #1003
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    If we are following the wrong method to trade forex, it will be difficult to achieve good results from this trade with time. Some of the myths we believe is affecting our psychology and this could make it hard for us to come up with profits. Forex is profitable no doubt but we also need focus and hardwork to improve on the right system which will give us stable needs to improve on forex and seek learning which is good.

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  5. #1004
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    Quote Originally Posted by Tonycee View Post
    If we are following the wrong method to trade forex, it will be difficult to achieve good results from this trade with time. Some of the myths we believe is affecting our psychology and this could make it hard for us to come up with profits. Forex is profitable no doubt but we also need focus and hardwork to improve on the right system which will give us stable needs to improve on forex and seek learning which is good.
    That is true, one has to be careful and should understand the market whereas knowing who they are learning from and things they are learning so they can become profitable. In forex trading market apparently there are a lot of people losing their money, so the best thing I want to do is that want to avoid making the same mistakes that other traders has probably.

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  6. #1005
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    There is the possibility of losses in forex trading, no matter how much knowledge we seems to get and have, that is just the way the business works, however the working on a good mechanism that would make us profits can save us from losing so much. Losses in forex trading market should be accepted as that is the best thing we can do to control the losses and become profitable.

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  7. #1006
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    Quote Originally Posted by +greenpip View Post
    There is the possibility of losses in forex trading, no matter how much knowledge we seems to get and have, that is just the way the business works, however the working on a good mechanism that would make us profits can save us from losing so much. Losses in forex trading market should be accepted as that is the best thing we can do to control the losses and become profitable.
    Risk is always involve in our trading and its does not matter how much you have experience and knowledge. If you make mistakes then you will face losses in forex trading. You are need care in your every trade and only open your trading orders after get the confirmation of market trend and follow your trades with tight stop loss.

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  8. #1007
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    Quote Originally Posted by mao View Post
    Risk is always involve in our trading and its does not matter how much you have experience and knowledge. If you make mistakes then you will face losses in forex trading. You are need care in your every trade and only open your trading orders after get the confirmation of market trend and follow your trades with tight stop loss.
    I see forex trading like other business that a trader has to know that there is losses, obviously, the traders that wants to become profitable in the business should be able know that to make money you should be willing to take some risk and then loss some few bucks, but when you are good with the market, you would surely recover them all.

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  9. #1008
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    Learning how to trade forex should be our major concern because if we do not learn how to trade forex properly before trading we'll not have the chance to make money in this market anyday we'll be using a lot of signal provider but to no avail we won't make any money but lose our investment, before you should start to trade you need to learn and get to understand this business well.

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  10. #1009
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    Traders that wants to make money should get to learn and know how they can become profitable. Learning is the best way of getting to become profitable. Traders that are looking at being successful should see the risk in the business and know that we can only succeed depending on how much experience and knowledge we have gotten so far. Losses are common in the market and on the other hand, if you don't learn from it then it will keep on happening.

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  11. #1010
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    Quote Originally Posted by Darkhorse View Post
    I see forex trading like other business that a trader has to know that there is losses, obviously, the traders that wants to become profitable in the business should be able know that to make money you should be willing to take some risk and then loss some few bucks, but when you are good with the market, you would surely recover them all.
    All traders are join this business and trade on it for only profit but when they are lose money then they leave this business but they are need to know that every business give us profit and loss. If you are lose your money then you are need to find your trading mistakes which are cause loss. If you are trade mistakes free then you can make good and big earning easily on this business.

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