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Forex Myths

Forex MythsThe first myth that all brokers advertise is that trading is easy. Perhaps they are right, but only if they mean physical activity. Indeed, clicking on the buttons with the mouse is not a difficult job. If they meant to work and make money successfully, then this is not an easy task. The reason for this lies mainly in human psychology. You can really create a good trading system, develop excellent tactics in the market, but you will need time to develop a stable psyche and not react to greed and fear. It takes different people a different amount of time. It all depends on the personality, someone will still have a head start.

The next myth is huge capital gains. The one who told you that on Forex you can double or triple your money in a short time either simply did not work or is openly deceiving you. A trader is considered to be successful if he makes, on average, 5-10% per month gains.


It is easy to calculate that in order to double the deposit in this situation, it will take almost 4-5 months. It depends on whether the money earned will remain in the account and whether it will be used in this case. Let me remind you that we are talking about a professional. A beginner who somehow managed to resist the market and makes 1-3% a month at most will need about a year to double the deposit.

The myth that the Forex market does not like players. Here I would like to ask a question: what do you mean by the word players? Today all rich people are called gamblers. Players in the milk and meat market, players in the telecommunications technology market, and so on. If we mean the players who enter the market, anywhere and in any way, then this is completely different and it is still possible to argue on this topic. Those who lecture about Forex and say that you need to work and not play, moving on to the money management section, talk about the fact that if two professional traders enter the market at the same time in different directions, they will exit it with a profit. Well, in principle, I would like to note that people have long loved to play, and when it comes to work, the mood spoils and the approach to work worse than to play. It seems to me that it is better to trade in a good mood than to trade in a bad mood.

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