The biggest mistake newbie does is they treat trading as a gambling. They come here to get rich overnight. But they are unwilling to learn by themselves. But the reality is- you have to be skilled in order to make money consistently. If you can't invest your time in learning, do Not invest in the market.
risk is everywhere in Forex its a very common thing , there is no one who can deny but if you have proper money and risk management then within a very short time you can bring good amount of profit from here.
For successful trading, fear is a great enemy. Since your fear can make you move away from your money management and let's close the deal before the level predetermined by your system. And as often happens in such cases, the market after that likes to turn in the direction you need.
DoraWalletInvest posted: It is indeed important to learn how to control your emotions. I don't believe it's possible to reach a state of complete emotionlessness but we can definitely practice and choose not to listen to our feelings.
In forex, fear comes from the increased possibility of losing money, which can happen anytime for a trader. Experiencing fear is normal. ... Simply put, you are experiencing fear. You think to yourself that you cannot handle it anymore, and do not want to lose more than you already have
Hm, I often hear that people are worried about this. But if you've already worked in business, you're ready for it. And if you worry too much, you should read more about trading psychology - it can really help!
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.
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