Coming to forex, almost everyone thinks that he should win right now without hesitation. Yes more, yes more! But in practice, it turns out that just this approach is the most destructive, and the trader’s greed has become a very common scenario that causes a large number of novice players to refuse to play in the forex market altogether.
What else are the main mistakes made by the trader, lead to failures and numerous defeats?
Another mistake is a game of luck. Relation to forex as a casino is very conducive to quickly go broke. Have you ever seen a man who won a lot of money in a casino and subsequently lived on it for a long time? Of course not. And what, in the casino can not win? Can. But the point here is in the excitement – after all, the player will not stop until he loses everything – both the winnings and his own money reserves. At the moment, when the casino in the country is no more, many are transferring their passion to forex … and get a predictable result. If you need thrills – then forex is definitely not for you. Or, an urgent need to revise their attitude to this.
The less often you enter the market, the more you will want to make a deal immediately. This is a proven fact by thousands of players. When you go out hunting, for example, at nine o’clock in the morning and open the euro chart, you will immediately feverishly think about where are the prerequisites for opening a winning position for a maximum of ten minutes. And of course, you will see these prerequisites! Even if they are not. So do not look at them so hard, you need to calmly watch the schedule and not think about money at all. Only then can we hope for success.
Before you play for real money, you really do not hurt to first practice on a virtual account. There are two benefits here. Firstly, you will have enough time to study your main mistakes and mistakes, without losing real money and not giving up on it in forex as a whole. Secondly, you have a bit of excitement: you’ll get used to the fact that the money is not worth the money, and you don’t immediately project it on what you want to buy. With such a healthy attitude, you can only achieve something in the forex market.
And finally – do not forget about learning. A lot of paid and free books, video courses and online seminars will help you learn a lot before you go and achieve success in the foreign exchange market.