It's true. I believe everything because forex trading is advertised as the easiest activity for earning money and mainly brokers do it. Nowadays, there are lots of opportunities to make money in the internet and actually forex trading is considered to be one of the most hyped activity. That's why people come into trading and believe that they can make millions of dollars daily. However, it's not like that at all. There are no traders who would earn 100% to their deposit in the very first days. It's okay to earn 20-30% to deposit per month, but this result can be reached only due to hard working of a trader.
It is important to know that most people become unrealistic when they begin to trade in forex. They expect to become wealthy in no time, or they may even want to become millionaires overnight, but this is something that will most likely never happen. Forex is a long-term game, and you should never expect to become wealthy overnight.
Traders need to know that when they are starting to trade, they need to know that the goal has to be realistic and not to be mistaken with overachieveness. They tend to become unrealistic after making few profits, thinking if they can do it then they can create unrealistic goal.
Well, it's a really spread issue within trading community. Sometimes new traders believe in themselves more than professional traders. Everything because they heard that trading is something about easy money, while in fact it's not like that at all. Trading implies bunch of hard work and it means that there is no easy money at all. Everything that new traders might earn is 20% plus to their deposit within a month and this result is amazing one. Mainly because new traders as a rule lose their money, because of this over-self-confidence. It's cool that people are confident, however it must have wise borders. Overconfidence eliminated plenty of traders from the market.
Absolutely, its feed by people trying to make money from affiliate links to all sorts. You need to treat this like any other business and expect to work hard for it. There are massive profits to be made if done correctly
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.