To the myth of fast win on forex
Targeted advertisements of Forex dealing centres, screaming about the ease of fabulous success that Forex trading brings, have flooded all over the place. Newspapers, radio, TV ... Everywhere you hear that you just need to come and win a big score from Forex market, solving your financial problems once and for all ... But how? We'll teach you.
But few people think that if everything were that easy and simple, would anyone grow bread, melt metal, heal people?
Is it possible to win on Forex?
Incorrect evaluation of conditions on financial markets leads to disappointment, painful experience of beginning traders, loss of equity. To avoid these negative consequences of their acquaintance with the market the beginners should understand that making money is not easy. It is making money by works, not by winning relying on blind luck.
This rule applies to any business. And Forex trading is no exception.
To achieve something you have to at least understand it. Therefore, the question of self-education of a trader comes first and dealing centre training courses are only the first stage of this long journey.
The notion of self-education includes not only knowledge of technical aspects of trading, but psychological aspects of trading are even more important.
Development of such qualities as patience and discipline. They are the ones that keep a trader within the framework of a trading plan and do not let his emotions run wild.
After all, nothing can be so detrimental to trading on financial markets as uncontrolled emotional outbursts. In order to properly assess yourself, determine your strengths and weaknesses, and practice using the knowledge you receive, the next step in trader's education is opening a demo account.
From virtual victories to real profit
Opening of demo account is absolutely free of charge and does not take much time. You can download the program from the website of any brokerage company. But you should understand right away that working with demo account is the most time-consuming and important stage of trader's development as a trader.
Of course, every person has his own perception level, that is why there is no time limit for Forex earning strategy. Only some self-assigned target can be a criterion here. For example, to increase your deposit by 50% every month for three months. For a shorter period of time it is unlikely you can really evaluate your strength and capabilities.
It is very hard for Forex novice traders to keep from realising their first successes. Self-importance can reach catastrophic proportions, the desire to open a real account and earn big money on it will outweigh common sense to stand the test period to the end and work through the detected errors.
Usually this quickness only leads to a quick loss of your own finances.
So, is it possible to win in Forex? Unlikely. But to succeed in trading, clearly - YES! But you must remember that it's not an easy task. It will take a lot of hard work, patience and discipline. There's no such thing as easy money. And everyone probably knows where the free cheese is.