graph line 380x254 - Reasons Why Forex Traders Beginner Fails

Reasons Why Forex Traders Beginner Fails

Why do Forex traders fail at start? It’s a well-known fact that anybody can learn to trade and win but then 95% of traders lose their money and, at this point we will look at the common reason why they lose.

Forex trading is a profession. Besides in any profession, you need to exert all your effort for you to learn the necessary skills to succeed but then most traders don’t do this, they think that they can buy success inexpensively and not to try which leads into our first mistake.

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1. Being Impatience

Most traders cannot control their temper and cannot trade their system with discipline. As soon as they have a losing trade, they get annoyed easily. If you can’t trade a system with discipline, then you don’t have one. Learn to accept your losses quickly and don’t worry if you keep them small, the market will give you some good trends that you can run to cover them and give you great long-term improvements.

2. Trading without having a plan

The first step in reaching success is to make and follow a trading plan. The effective trader works within a documented plan that includes risk management instructions and specifies the expected return on investment (ROI).if you don’t have a plan, you’re selling yourself in what you can achieve in the forex market.

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3. Poor in risk management

Traders should focus and exert all their effort on risk management as they do on developing strategy. Poor risk management is the main cause of project failure.  It is predictable that every plan has its own risk in the nature because of its complex dependencies connected to the environment, management, system, process, resource, and the shareholder factors.

man forex 380x254 - Why Invest in a Forex Trading Industry

Why Invest in a Forex Trading Industry

In this industry, there are so many opportunities that you can gain, many benefits and advantages in engaging in forex trading. Here are some explanations why many individuals pick this market as their very own business:

Low Starting Investments

In this industry, you think being a currency trader would cost you a lot of money? No, Online forex brokers deal with just “mini” and “micro” accounts with just a very small amount of deposit(raging to just a minimum of $25). It is not advisable to open an account in such a minimum amount but forex trading makes people reachable to this kind of business even if they have a low starting capital.

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24/7 Market

There is no resting in this industry, forex market is a market that never gets tired and have even a bit of sleep. This is good for people who has only a limited time of trading because they can choose when they want to trade even if its morning, noon, lunch, dinner or even when your child is asleep.

Low business charges

The normal percentage of retail business charges (which is the bid/ask spread) is actually less than 0.1% under the terms and conditions of the market, but for bigger charges, the spread can go down as low as 0.07% depending on your leverage.

Great Liquidity

Forex market is so enormous, it is enormously liquid. It is a benefit for people who do forex trading because under the normal market conditions, with just simply a click on the mouse, you can instantly buy or sell. After that, there would be someone immediately eager to trade to your offer. Its fast isn’t?

It has no charges

Because in the forex trading there is no brokerage charges, no government charges and no exchange charges. Forex brokers are mostly got paid for their services through “bid/ask spread”.

It has no middlemen

In this industry, they eliminate middlemen for you to trade straight with the market liable for the price of a specific currency.

It has free access at first

Most of the online forex brokers give a free access “demo” accounts for you to practice, experience and master your skills in this kind of business.

There are more great advantages and benefits you can get in forex trading. If you want to know more, you can contact me.

man laptop graph 380x254 - 4 Secret Rules in Forex Trading Business

4 Secret Rules in Forex Trading Business

Forex trading involves a lot of computation, analysis and data that needs to be considered before going ahead with the investment. There are certain rules and guidelines that must follow in order to minimize errors which might lead to unpredicted and unbelievable downfall. Following the 4 secret rules will sure fire the success in forex trading business.

1. First invest in your self

If you want to start trading, put much time and effort in yourself as its important to ensure before you make a move. Do full research, make inquiries and discover things out for yourself – don’t depend on what others say. Do legitimate testing of different items and frameworks before starting to trade in live account. It should be a constant learning process as this is possibly the most significant of all the Rules for Forex Trading.

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2. List all your plans in trading

You cannot even start trading if you have no plans and ideas. A plan should include a complete idea or thought of the trading strategy to be followed, the dimensions, period, trading hours, money exchange. If you have plans to do make sure that you will focus on it and everything will follow.

3. Tools to use in forex trading

Look for perfect Forex trading system and devices that is capable and consider their value to make the best operation. There are tools such as MetaTrader 4 also called the (MT4), Daily Market Analysis, FXTM Trading Signals and many more. Which is widely use know a day because it’s easy to use and user friendly.

4. Make it Organized

Make a reliable network that will have an effect to the traders that are experienced and have the knowledge of market and its complexities. Consider taking a break after every trade as it helps you to formulate better, have a peaceful mind and positive approach for your next Forex trade.