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Forex Stock Exchange Forum  » Forex and Stock Trading English Forum » General Trading Discussions » Popular long term misconceptions about Forex trading

Popular long term misconceptions about Forex trading

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Stuart Broad
adamsmiths
6 posters

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Michale Clark



Forex trading is not a traditional thing to think. Because it depends on economic events, political crisis which is huge factor for changing this market balance. Market conditions and price movements are not same every time. It is influenced by many things around it. So, for a trader he or she needs to keep themselves up to date with forex market news.

Guest


Guest

I support long term trading over other trading methods available in the trading platforms. Long term trading is the most profitable trading style a person can ever trade with and i think if you want to be successful in trading you should try to trade with longer time frames like H4 and D1. I have been trading with M5 and M15 earlier but currently after switching to longer time frames my trading accuracy has increased quite well and i can see the difference clearly.

Teddy Burkett



Knowledge is crucial for being an effective a trader. You need to study and research a colossal stamp in case you should be a helpful trader. You need to learn specific edge and mental perspective of trading. You have to acknowledge how to control your notions. By then start with demo record to perceive how past what many would consider conceivable. At present I am a binary options trader.

Teddy Burkett



Forex trading is most challenging and most competitive business of all time. In this business you can earn millions and lose even billions. Misconception about trading is that it is money making machine. yes it is but you need to work hard to make it a money making machine.

Stuart Broad

Stuart Broad

Nothing is achieved easily and if it does then it does not lasts long! So there is no other way than being skilled and working through success. I am with FreshForex and it helps me to reach my goals one step at a time and not in a hurried way. The trading conditions and the supporting conditions are such that one can trade comfortably and profitably across any financial markets.

Chris

Chris

There are two types of trading system among them one is short time trading and another is long time trading. Through long time trading is the perfect trading system that’s why I use to follow this one system. It gives me much profit than scalping. And I get the thirst of professional trading through long time trading.

Stuart Broad

Stuart Broad

Yeah there are some popular misconceptions, primarily people think it is gambling or take short-cuts trying to earn fast & big. But if people just looked at the big picture then they would not do anything silly and just stick to the finer parts of trading. Trading is not getting rich quick scheme. One needs to really understand it and then trade with a good broker which is very essential. I lost big money trading with scam brokers like IronFx, hence the need to be careful!

Clark

Clark

No matter how sad this may sound to you but forex really won't bring you money fast. Only hard work and passion will help you stay on the market and later on to start making money.

Stuart Broad

Stuart Broad

Yeah there are many misconceptions about forex trading. It is therefore essential to get the right skills. A good broker is also a must.

adamsmiths



Forex is a very trendy job to start from your home at the moment. But before you invest into forex, let’s clear some misconceptions. You cannot go very far with your misconceptions in forex. There are many traders in the forex market who are struggling for more than years to master the art of trading but yet they not been able to execute high-quality trades in their trading platform since they confined with most popular misconception in the forex market. On the contrary, if you look at the traders in Singapore then you will notice that they are far more advanced and trading with high-class brokers like Saxo which offers tight spread and wide access to all the financial instrument from a single account. Most importantly they also provide educational tools for their traders so that they can money in trading. Let’s discuss the most popular misconception in forex trading.
No quick money: One of the very misconceptions in forex is that you can make money here very quick. The opposite is true. Forex is very hard and also at the same time it relates to the very economic situations of the countries around the globe. You need to be a master with lighting speed decision-making ability to make money really out of forex to your pocket. If you cannot or do not want slow monetary investment, do not trade in forex. It’s an honest advice. If you look at the professional trader then you will see that all of them are instantly execute their trading orders in the market once they find the right setup in their trading platform since they know that every second count in this market.
Forex takes patience: Most of the forex traders you see successful today, they have one thing in common. They are all very patient. They have wasted and wasted their valuable times to interpret the signals of the market. But make sure that you learn the art of technical analysis in a robust trading platform provided by high-class brokers like Saxo. Only then you will be able to experience they really live feed of the market with the extreme level of precision. The professional traders are not in this position by their time only, but also hard work and endless trial and error. Be patient to be successful in forex. However, if you follow the correct way in your learning stage then you can easily master the art of trading within a single year and ensure your financial freedom in the world.
Build your own winning strategy: Do not subscribe to a forex master channel and wait for making money by interpreting their signal. Use your own handbook and brain and some pencil and pens to build your winning strategy. It is very important to follow a solid ground rule in Forex. However, you can subscribe to the professional signal service providers only if they provide a clear explanation of their trade setup in the market since it will help you to learn how to analyze the market like the professional trader.
Only invest if you can afford loss: Most of the newbie brokers lost all their capital in their first trades of the forex. If you are very needy, don’t have cash, lives on a credit card, do not invest in forex. Only invest your money and time if you can afford them to lose.

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