Almost everyone knows what Forex is. Some would like to try themselves in this field, while others have already tried and lost everything. Why is this happening? Why do many newbies "drain" their deposits? There are several common mistakes novice traders make.
Instructions
Step 1
Many newbies get euphoric after a few successful deals, and switch from a demo account to real, thinking that now they can do everything. If your trading was successful within seven days, this does not mean that now you need to give up everything and switch to trading with real money. It should be understood that when switching to real, the results deteriorate. There is no need to rush. Trade in demo mode for at least six months. This is due to both technical issues and a psychological factor. This is not how the brain works on a demo. There is nothing to lose except chips. Many systems and strategies that successfully work on demo will be completely useless in real life. In real life, there are a lot of aspects that worsen trade, so there is no need to rush.
Step 2
A trader should strive not for huge results, but for stability. Let you earn not so much, but it will be a stable income. And it’s not worth striving to make a million out of one thousand. There are two ways: you can improve your trading system, or you can increase the amount of funds. The second way is much simpler than the first.
Step 3
Never take out money loans in order to trade on "Forex"! If you are a beginner, then the loan puts a lot of pressure on your psyche and the psychological effect of this increases. You should never trade with borrowed money. This is especially true for beginners. Better try to find an investor. Let you have at first a small percentage of the transaction with investor money, but this is better than trading with borrowed money or your own. There have been cases when young traders got into debt and lost everything. If you want to start trading in the Forex market, first learn to be friends with your head.
