We all know that Forex is the largest investment industry of the world. If we compare all of the stock markets of the world with Forex, it will still be large and this is how big this industry is. People often think it would be wiser to invest in Forex as there is money flying. There is no way we can lose our money and it tricks our mind into believing every trader is rich and successful in currency trading. If you come to reality, you will find people are losing money more than their investment. They sometimes need to close their account after weeks of their opening because the market is not giving them expected rewards of their deposit. This article will try to reveal the mystery of why people fail to make a profit even in the largest industry of the world. As you read this article, you will slowly know the secrets of Forex.
Nowadays all the brokers will offer you high leverage trading accounts. But this doesn’t mean you will start trading with the low-class broker. If you trade with the unregulated broker you might even get scammed. For this very reason, the elite class trader always prefers brokers like Saxo.
No business in the world will give you such leverage trading opportunity. But you have to understand the risk factors also since the majority of the traders are losing money. In order to make a consistent profit from this market, you will have to execute quality trades in the daily or weekly time frame. Being a short time frame trader you can’t find high-quality trade setups. Instead of looking for big winners try to understand how this market works. Always make sure you have access to professional Forex trading account since it will significantly help to become a better trader. Learn the art of technical and fundamental analysis to find the best trades.
What good is the market if you are not a maestro?
When Bill gates make billions of dollar from his software business, does he give you any amount? He does not even know who you are and you are expecting to make a profit even when you are a novice trader? This conception needs to be changed and not all the traders are masters. There are groups of uneducated people who have only come here to make a profit. They do not know how the currency trading works and what changes the price trends on the charts. Forex is the biggest industry but it does not promise to reward you in exchange. You need to make your own way to make a profit out of the trades and this is how people have been trading for a long time. As long as you are not a maestro, expecting to make a profit is only a dream.
They try to trick the market and lose money
Another reason is they are always trying to become smart and make money in a short time. You need to practice your strategy thousands of time before it can be successfully used in your live trading. People who have a good record of demo trading fail in live trading because they traded the market with patience and discipline in demo accounts. They had no emotions attached because they knew their deposit was not going to be affected. When they place trades on live trend, they start thinking and it cost them money. The more they try to become smarter, the market gets harder and the result is a loss of investment.
Size is not important when it comes to skill performance
Ultimately, your profit does not depend on the size of the market you are trading. It all comes down to your knowledge, your wisdom, the art of trading and planning and executing trades with your skill and performance.