Mistakes That Could Cause Forex To Loss
Forex marketis now very popular. Work on the international currency market is profitable but according to statistics about 90% of new traders lose their first deposit. Forex losses are caused by mistakes which allow traders in their work. To avoid them you need to know about them.
The main reason for Forex losses is stupid and lazy of traders. Beginners often come in Forex open a demo account and start trading relying on luck alone. The chance to make money on currency fluctuations is quite large (about 50%) then the newcomers get their first virtual profits. Making sure that they can earn, they have not wanted to know what the features of trading are, open a real account and start trading. At this stage they do not know how to open a deal with a good lot, what is indicators, how to protect themselves from force majeure, do not account for the size of spreads, trying to get everything at once, taking advantage of the huge leverage. This is not a complete list of what you need to know before you just start trading.
Forex tradingis one of the most psychologically complex works. And the problem because of which a lot of traders are losing in Forex is inflated ego and greed. Initially many do not understand what percentage of profit considered normal when trading currencies. Many novice traders expect during the week to increase the amount of their deposit several times but few aims to implement the increase of its capital by at least 10%. The main mistake here is the lack of patience. Hoping to get everything at once many traders lose in the Forex. Knowing the key mistakes in Forex trader warning them and by following a simple algorithm which includes learning the basics, build and test your own trading system, compliance with the rules of risk management and control over psychological state, success in the financial markets will be real.