Have you ever wondered where there is so much negativity about Forex? This is especially amazing for those people who are already trading and have successfully withdrawn profits from their account more than once. There is still a wave of distrust, friends insist that brokers are fraudulent companies that steal money. Only when you tell them your income will the negative bias be replaced by at least some doubt.
Of course, the first reason is that our people do not believe in easy money, in part, precisely because they have already exhausted themselves with it. But the second is precisely that thousands of newly minted “traders” download their Forex accounts every month and then generously share their negative experiences. True, avoiding details about the mistakes they themselves made …
However, almost every merchant found himself in or near such a situation during his work, even if he was successful in the end. Many psychological factors and small mistakes make the road to victory more difficult than we would like. In fact, 4 problems of Forex traders lead to failure. You got it?
4 paths that can lead you to a dead end in Forex
4 problems for Forex traders. Do you have them? Look at yourself through the eyes of a person from the outside and conclude if you have one of the common problems in trading.
Trade for trade’s sake… To be honest, for money, of course. But the thing is, some (and many) traders desperately want to open a deal as soon as possible. They are not driven by a thirst for market analysis or even sports interest. It’s just that somewhere deep down there is a belief that an open deal is money they are about to receive. And even the rich experience does not affect them: everything seems as if everything is different today. They do not take into account that several times, having opened with only one signal, they end up with huge losses. The desire to make a profit completely motivates them, and at the moment they only remember how they once earned 200 points per day using this scheme. These traders open a trade as soon as they see at least one suitable signal, whatever.
Trade with expert opinions. Here we are not even talking about those who trade according to prepared forecasts published by brokers. There is another category: people who constantly watch economic news. As a rule, after a while, your knowledge base in the field of fundamental analysis becomes simply huge, but… unfortunately, it consists of 90% unnecessary information. It would be more helpful during this time to complete some kind of training course or read a textbook, eventually gaining a solid understanding of the basics of trading. RBC news and programs mainly show very different analyst opinions that differ a lot. As a result, a person receives a bunch of predictions and at the same time learns to think only with other people’s thoughts, and the objectivity of the analysis is gradually lost. Most often, this scheme is used by those who want to become a trader, but do not know where they can learn cheaply or for free. This almost never results in a profitable trade.
Persistent self-study, absorbing tons of information. The idea itself is laudable. Self-study appeared in the biographies of many famous merchants. However, this path is not for everyone. Most people are used to being taught and explained. And they just can’t organize the “homework”. If you want to learn Forex yourself, try it first, is it possible? The second point is that not everyone manages to finally structure the information received. Not everyone can extract the most important from a dozen textbooks or hundreds of articles, create their own trading system. Although it is actually simple, it is difficult for many. But trading ideas start with the presence of ready-made strategies and systems.
Look for the magic wand. The few weeks that a beginner can spend on training, she spends finding advisers and robots. He is not too lazy to test them for hours, he is not too lazy to sit on the forums and discuss his work. They spend months looking for free cheese, even though they could have spent just as much time taking quality courses or reading various useful books on trading, for practice… Those people themselves do not understand their capabilities; not bear th t, who could have achieved much more, please look the other way.
In fact, robots and advisors are not so bad, but as long as a person is knowledgeable enough to use them to their advantage and get an acceptable plus on the account. And self-study is great, but that’s when you see positive results. And viewing the news and economic forecasts is a useful activity if it is unusual, and you are unbiased in your perception. And frequent opening of deals can be useful, but only if the trader opens them exclusively according to all the rules of the strategy. Which, in turn, contains at least 3 signals.
Therefore, if you have problems with trading, look for the reason among the above. You will surely find it there.
To do?
In fact, what? It is definitely not necessary to put up with the situation or stop trading. Find a way out and do everything, create your own solution path and follow it, that’s what it takes. For some it will be long and difficult, for others it will be easy. It all depends on the 4 problems for Forex traders. Do you have them? situation.
For those who have fallen into the trap of “trading for trading’s sake”, it is important to realize the harmfulness of their actions. With each of those trades, your deposit is at risk. For starters, it doesn’t hurt to look at the account history; it will surely impress you and you will think about changing tactics. Next, start a trading journal. It is useful for everyone, without exception, to take such notes, but in this case it is especially important. By fixing all his transactions with complete data (time, amount, etc.), as well as indicating the reasons for entry and exit, the trader very quickly realizes all the mistakes and stops making them.
Expert opinions are definitely worth stopping trading with. If you find it difficult to make decisions on your own, at least swap the “TV” specialists for those who post more specific forecasts on broker sites. You can even find entry points there. And in parallel, it is necessary to study the market, preferably also technical analysis.
If you are looking for a magical advisor, maybe trading is not yours at all? Traders tend to have an interest in analysis. If you are not there, then think of other ways: investing in PAMM, hiring a personal specialist and services for copying transactions. This is a much better way to get money, more profitable and faster.
And finally, there is the problem of self-study. If nothing works at all, even though you have enough knowledge, first check if your sources give really good information. Remember that you can always find a huge free knowledge base on our website. Next, try to design your trading strategy using ready-made schemes. You can find out how to do this here.
And:
still nothing happens;
he feels a lack of some knowledge, but is not sure which ones;
psychological factors seem impossible to eliminate;
you can only trade under someone else’s control…
…then the problem can still be solved. You just need to seek outside help. It can be expensive or free. The most expensive is coaching or personal training from experienced professionals. You can find such offers on the Internet, and their cost is quite high – several thousand dollars. Cheaper: classes in trading centers.
Free: all in the same DC, only correctly selected. Because in some of them you can stay from morning to night simply because you are their client. By opening an account and making a minimum deposit, you can constantly trade from the office, gain experience and use the advice of managers. It remains only to find such a DC in your city.
