5 Misconceptions About Forex Trading That You Need To Avoid If You Want To Succeed In Forex

1. Trade Forex Profit 1000% A Day

Many people warn that if you have a little money, you can already trade forex and continue to double the value. This is not trading called, if this is the case, this is called ‘gamble’. You gamble your money.

Forex is a ‘high risk, high return’ business, where for people who always fail in forex place hope one day can profit 1000%. I do not say no, but on average it always fails to cultivate this unrealistic ambition. If you have a similar dream, please leave forex. Forex is not worth it for you. Forex is also one of the branches of business that provides realistic profits of around 20% -30% per month. The average forex trader who dreams of this kind of income on the capital traded comes from a consistent and successful group.

2. Forex Is As Easy As ‘Buy And Sell’

I don't think it's wrong if you think something is easy, but whatever business needs knowledge. You need to really know why you are buying and selling a currency pair. It can't just taste good. Because the rise of the currency does not follow our taste. If you can trade by playing with feelings only, you can check Forbes magazine next year, full of forex trader faces, and of course my face on the cover page. (chuckle).

3. Forex Traders Are Rich People Own Ferrari Cars

Many turn off the intention to learn forex trading after meeting a friend who is also a forex trader, or someone who is also a forex trader. Use a small car, life is in turmoil, this money chapter is indeed better than you and I thought, why do I want to trade forex if I has been a trader for 2 years but it is still difficult. Here I want to order one thing. You are wrong. Yes, you did find a forex trader, but that did not succeed. Why do you need to equate his achievements in the field of forex trading with the achievements that you will achieve?

Plus if you hear them complaining. Forex losses, that and this. Do not listen to the losers, go find a profitable trader. That means a full-time trader. But you need to know the truth, do not listen to the big talk.


Maybe he is not really a forex trader who trades using knowledge. Maybe he is a forex trader but is struggling to get out of debt in the past. His credit card debts are almost paid off using forex profits. Or maybe you found the wrong person. Maybe he has other family problems, and certainly judge a profession from a rough point of view. Go see the successful ones. Not all forex traders are the same. Just like a bank employee. Not everyone who works at the bank is happy. Some are difficult, some have family problems, some are still in debt with the bank. Would you say, the bank is not able to pay their salaries, or the bank is not making a profit? Ridiculous!

The achievement of a field depends on oneself.

4. Forex Is A Get Rich Quick Scheme

Forex is not a get rich quick scheme. But there are those who get rich quick with forex. How? With science. Knowledge and ingenuity accelerate the course of a field. If you feel lazy to study, lazy to everything, this field of forex is not suitable for you. It's just like stocks. Purchase. There are ups and downs. But if you want to get rich quick, you need to calculate Return on Investment in business, right? And it needs to be realistic with our capital. Do not hope if you enter USD100 and hope you will get a return of RM20 thousand 30 thousand a month. But it is not wrong if you feel that USD100 is to learn the feeling of feeling trading with real money.

5. Forex Is A Losing Business.

Forex and losses, losses, and forex seem to be synonyms. Because? The lazy gambler seeks knowledge and claims to be a trader. Instead, he 'gambled' with capital, after losing the blame of this business model. I don't think it's fair. Just like the banana fry business. If you do not have a good knowledge of fried bananas, you spend your capital, buy kiosks, pots, pans, oil, bananas, flour, and without knowing a strategic place to do business, you start going to trade fried bananas. That's called 'gamble'. Legally if you do not fit your style you will lose. The same goes for forex. Science is important. And not the sciences that follow. Take the time, learn, get used to trading on demo accounts. I used to open a real account, deposit a little first.