Forex

Why most forex traders loose and few have hit their goals?

Here are some of the reasons for the question above which might help you if you are in the same route to forex trading.

Commonly new traders wanting to make quick money without first having developed the skills needed for Forex trading.

The moment you decide that Forex trading is for you, you’ll have a greater probability to make successful trades in the long term, because you’ll develop the correct skills needs in forex trading

Further move on the important questions asked

Is buying and selling currencies right for you?

SO THE REASONS YOU SHOULDN’T TRADE FOREX ARE AS FOLLOWS,

1. Your Capital matters a lot.

A Man With No Money Holding Pockets Open

When not enought capital Using leverage and margin can uhelp you with little initial capital

Because the market can be volatile, there is always the risk of losing money when trading a currency pair.

Losing trades over a long period of time means that your account balance can reduce faster as posible

“In addition to the inherent risk linked to trading, with Forex trading you need to add margin trading and leverage, which means that you can invest large amounts with little initial capital”.

So, this high level of risk means that you need to be sure that you do not use money that you need to live on always trade with money you can afford to lose!

2. lacking skills or experience.

You can not lack skills and you understand what to do!

So before even considering trading, you need to know the basics of the markets, what influences them, and how trading works.

Another important aspect is that you need to have a trading strategy that suits your trading style, with strict money management and risk management rules that govern how you allocate your funds to trades.

If you have no trading experience, and you do not know how market trends and relate to each other, Forex trading might not be the right investment option for you at least not yet.

3. You can’t handle when you’re wrong.

When making trading decisions, you can be right and make money, but there is also a high probability that you’ll be wrong and lose money.

That’s fine as long as your profits are higher than your losses. Losing trades are part of the trading game you need to be prepared for this and not take it personally!

In Forex trading, you need to quickly recognize when you’re wrong, and close losing trades as early as possible. It’s important to develop your ability to accept your losses and learn from your trading experience.

But do remember, it’s OK to be wrong you can’t be right 100% of the time in every single trade you execute. And if you can’t handle losing, you won’t be able to be profitable in the long run

Make sure that you are well equipped with the knowledge of candle stick or line graph reading

4. You’re risk-averse

Fast changing market conditions, high volatility, and leverage can make Forex trading a high risk activity.

You can make huge returns in the FX market, but these kinds of returns do not come without risks, especially when using leverage.

So you must be aware that loses are to be encountered a long the run and if you can’t handle the idea of losing every dollar in your account, Forex trading is not going to fit your targeted risk!

Get your best alternative ways that can bring you success towards your forex career.

About, Forex

Explore The Most Important Things That You are Supposed To do Before You Turn 30 Years Of Living.

Revellers at Nyege Nyege Festival
ThStart saving.ink back to your 10-yeTake a cross-countryar-old self’s daydreams about your 21st birthday. Maybe you were convinced you would be living it up at your dream school, learning by day and partying by night. Perhaps you fancied yourself a world traveler, backpacking across the globe and spending your days sipping wine with the world’s most fascinating people.

If your dreams didn’t quite turn out as planned, it’s OK! You should still be cracking open that wine-in-a-box and celebrating your twenties. Being in your twenties is a time for adventure and whimsy. Many of us will settle down someday, create beautiful little families and become permanent fixtures in our neighborhoods of choice. But for me, that day is not today.

To fill my time between now and thirtydom, I’ll be attempting to be a little bit reckless and a little bit responsible, to fix my undeniably bad and self-destructive habits, to make goals and surpass them and finally, to make memories I will never forget.

Here is your Bucket List: 15 Things to Do Before You Turn 30:

  1. Travel somewhere you don’t know the language.
    Going somewhere you can’t easily communicate with other people is terrifying. But not only would it enlighten you and make you savvy to another culture, it would also force you to really learn the language — something we’re rarely forced to do.
  2. Date someone who isn’t your “type.”
    You will learn and grow from being around people who are different from you. Maybe the relationship won’t work out in the end or maybe you’ll meet your future spouse. At any rate, you’ll either have a great time or a terrible time, but you will learn from the experience.
  3. Start saving. Retirement might be a blip on the map but it will be here before you know it. Do yourself a favor and start saving now. Especially if your company offers matching. Grow money, grow!
  4. Take a risk: Go bungee jumping or skydiving or swim with sharks.
    I’m talking to you non-adrenaline junkies and typical stay-at-homers. Get outside, put yourself in the hands of trained professionals, and experience that exhilarating feeling of being thisclose to staring death in the face.
  5. Start investing.
    This is a risk in itself. Learn enough to invest some money or have someone else do it for you. No risk, no reward
  6. Form your political opinion.
    We live in a politically turbulent time. It’s up to us to educate ourselves and advocate for what we believe in.

Many people shy away from political discussions but by having them, you’ll come out with new, more well-rounded knowledge and, hopefully, will get to know your own opinions better.

  1. Stop holding grudges.
    Past grievances are overrated. You don’t need negativity in your life and you definitely don’t need it over something that happened years ago.

If you need to, unfollow of block the involved parties on social media. Don’t “hate follow” someone just for the heck of it. A grudge of affects the person holding it.

  1. Start a collection.
    Something fun, quirky and totally you. Be passionate about it but don’t be a hoarder!

My collectable of choice is mugs. They take up a lot of space, but they are something I use daily and always bring back memories from places I’ve visited.

  1. Take a cross-country road trip.
    Particularly if you are in the United States. You’ll get to experience many different nuances of the country and you can support local mom-and-pop businesses.
  2. Pay off your credit card debt.
    No one wants this to begin with, but you have a chance to start off your thirties with a clean financial slate if you play your cards right (or in this case, not at all).

Debt can not only be financially devastating for building the future you dream of, but it can also be tough on your confidence.

  1. Go see live music you love.
    There’s something so special about seeing your favorite artists live. They aren’t going to be on tour forever, so buy the tickets and make the drive. You won’t regret seeing them live.
  2. Set an annual reading goal.
    I could bore you with the list of benefits of reading, but I won’t (but if you’re curious, we’ve got some right here). Go make yourself a Goodreads account and set yourself a reading goal to accomplish each year.
  3. Overcome a fear.
    Sometimes your fears hold you back, but don’t let them. Take steps to overcome your fear of public speaking or heights. Once you know you what you are capable of, anything is possible.
  4. Be the first person to apologize.
    It’s hard to admit when you are wrong. But it’s usually for the greater good.

Saying “I’m sorry” is something we learn as children but don’t often implement as adults. Apologize when you’re in the wrong.

  1. Pay it forward.
    Ever had someone help you out when you didn’t ask for it? Even if you haven’t, you can still start a chain of positive events by paying for someone’s coffee or helping them change a flat tire.

Positive momentum is a powerful thing, people!

Best regards