Newbie problem

Michihito posted:
Most new traders think he is going to be rich within few months. He got the easiest way to make money quickly. The problem is they have been introduced forex like that. Most newbie traders do not know the ugly truth of forex trading. Forex is not an easy job to do. You need specific knowledge and skills. And for that you have to give time and efforts. It doesn't happen overnight. Not even in few months.

Totally agree they have been told it’s a get Rick quick scheme when in fact it takes a lot of time

There is no way to make quick money in forex trading. Traders need to be patient and work hard.

If you are a beginner, you need to learn about forex trading first. You can choose an online course too if that suits your budget. The next step is to open a demo account on a reliable forex trading site. Once you have assessed your skills, made some virtual profits on your demo account, and get mentally prepared, it is time to enter the real market.

Your trading skills and psychology matter equally when it comes to trading forex. As a newbie, try to learn from your losses and don’t take them to heart. It’s a game where one would win and another would lose.

It seems that the biggest problem for everyone who is just starting to work in the forex market is gambling. Not being able to stop in time.
Theoretically, it is possible to earn on Forex, but only those who are able to predict the exact situation on the currency market can do it.
Even experienced experts find it very difficult to predict the dynamics of exchange rates because the situation in the currency market depends on many political and economic factors, the behavior of the world's largest banks, funds and companies, even the news and rumors. As a result, according to statistics, players lose 3-4 times more money on the Forex market than they earn.

If you can't control your emotions , just try to make an algo

Blame the IG influencer for this. The successful trader doesn't look like a rapper with bling and loads of fast cars. Chances are they are asset rich and look fairly normal. But that's not sexy and doesn't sell crap courses.