Forex Trading Myths - Beware Losing Money With Them - Page 218
Page 218 of 218 FirstFirst ... 118168208214215216217218
Results 2,171 to 2,178 of 2178

Thread: Forex Trading Myths - Beware Losing Money With Them

  1. #1
    Trader
    Join Date
    Sep 2015
    Posts
    20
    Thumbs Up
    Received: 6
    Given: 0

    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

    Not allowed!

  2. #2171
    Trader Silhouette's Avatar
    Join Date
    May 2016
    Posts
    2,506
    Thumbs Up
    Received: 40
    Given: 42
    Quote Originally Posted by Giedra View Post
    There are many myths about traders that earn very big money in short time or they lose very big money. But the truth is that forex trading business is very normal activity and if we use normal leverage and little risk so there are no big losses or big wins. Earnings are nomal and about 10-20 percent of account from big size deposit.
    Such gambling habits must be thrown away from traders mindset to start this business with positive learning without rushing on market. Fast earning without experience is impossible to do no matter how much money we risk to lose, it won't work that way. Forex trading is basically a business we can do using our logic and other traders has been doing that since the first time this business came.

    Not allowed!
    rules made to be followed, not to be broken

  3. #2172
    Trader
    Join Date
    Jul 2017
    Posts
    4,109
    Thumbs Up
    Received: 6
    Given: 1
    Myth will not help the trader to achieve anything in this market,a good trader that wants to make good money in this market must try as much as possible to focus on developing a good trading system at all times,it is that trading system that will guarantee the success of that trader or not in this market.

    Not allowed!

  4. #2173
    Trader
    Join Date
    Jan 2018
    Posts
    595
    Thumbs Up
    Received: 1
    Given: 0
    Success in trading is a good one and once we make efforts to improve, the more we can succeed to become better. If we control our mistakes then we can earn every day high profit from this business and if we are work with confident then its really easy for us to trade on this market. It's better we avoid shortcuts and look to learn forex in the right way which is the key to get success.

    Not allowed!

  5. #2174
    Trader
    Join Date
    Apr 2018
    Posts
    2,243
    Thumbs Up
    Received: 4
    Given: 2
    We need to beware of those false trading method this will help us to stay away from any wrong trading method that will make us fail, but we need to remember that it take a good experience and knowledge for us to no the bad and wrong trading myth and if we have the right experience of trading forex we don't have to go about search for a shortcut to make money.

    Not allowed!

  6. #2175
    Trader
    Join Date
    Apr 2016
    Posts
    3,534
    Thumbs Up
    Received: 16
    Given: 4
    Myths have no value in trading and in our lives, so we should avoid myths and move on with the facts and the real things in mind. Understanding plays a very big role in the way we are able to trade in Forex. We have to understand whether we are comfortable with long term or short term strategy and then use a good strategy. Even if we make mistakes we should learn and correct them.

    Not allowed!

  7. #2176
    Trader
    Join Date
    Jan 2017
    Posts
    8,834
    Thumbs Up
    Received: 26
    Given: 17
    We have to think realistically that good business is built with good preparation and need the time for traders to understand it till meet the levels where they can enjoy in profit consistently. We have to forget about big success in a short time and start to learn seriously from the first steps. There are some steps which should be known well and we have to master them properly. Because the success will not come easily in a night but forex trading is about hardwork and smartwork

    Not allowed!

  8. #2177
    Trader
    Join Date
    Aug 2018
    Posts
    2,122
    Thumbs Up
    Received: 8
    Given: 7
    Quote Originally Posted by geddam View Post
    Myths have no value in trading and in our lives, so we should avoid myths and move on with the facts and the real things in mind. Understanding plays a very big role in the way we are able to trade in Forex. We have to understand whether we are comfortable with long term or short term strategy and then use a good strategy. Even if we make mistakes we should learn and correct them.
    I agree with you. Myths have no value in our real live. But there are many people who believe in myths and success stories. They are new in market and do not know all the truth or they believe only the most positive stories. Of course, market punishes them very quickly because their dreams are not realistic and market likes only realistic traders.

    Not allowed!

  9. #2178
    Trader
    Join Date
    Jul 2014
    Posts
    7,061
    Thumbs Up
    Received: 108
    Given: 70
    Quote Originally Posted by Rola View Post
    I agree with you. Myths have no value in our real live. But there are many people who believe in myths and success stories. They are new in market and do not know all the truth or they believe only the most positive stories. Of course, market punishes them very quickly because their dreams are not realistic and market likes only realistic traders.
    Yes we have to avoid myths in life and perceive things on the basis of facts and then the decisions we take will be more productive. The greatest myth that beginners should be careful of is that with Forex they can make a lot of money in a short time. We many times ready ads and promos that somebody earn multiple times his deposit in a weak or month, we should not fall prey to such illusive thinking.

    Not allowed!

Page 218 of 218 FirstFirst ... 118168208214215216217218

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •