Forex Forums | ForexLasers.com


Go Back   Forex Lasers Forum > FOREX TRAINING > Forex Articles


Forex Myths

Forex Articles


Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 25-12-2015, 13:11
Moderator
 
Join Date: Mar 2014
Posts: 979
Default Forex Myths

Myths, rumors and legends are everywhere. The forex market is not immune to them. The new forex trader is likely to be inundated with a number of forex myths, legends and downright falsehoods, so it’s important to separate fact from fiction before your money leaves your hands. Here is a list of just a few:

Myth #1 – Forex can make you rich quick
Think about forex as a journey, and not a destination. There is no final winning trade; no huge gains; no trade of the century. Advanced strategies like margin trading, options, and futures, require a great deal of analysis. Traders make money in the forex market by analyzing trends and making smart decisions. The gain on each trade is a small step in the direction of his or her long-term goals.

Myth #2 – The forex market is rigged
Sometimes you might hear a trader complaining that the market is against them. Every trade they make is a losing one. They blame the broker, the interbank, the government, the timing. The truth is this: foreign exchange rates change often and are too volatile to be rigged. Forex trading is not for the faint-hearted. Blaming everyone but yourself for bad trades will prevent you from learning and growing as a trader. The only person responsible for your poor trade performance is you.

Myth #3 - The markets move in a predictable, scientific way
The junk emails you get from companies trying to sell their guaranteed, scientific formulas are just that – junk. Anyone who tries to tell you that they have the market cornered with forex predictions or a single formula is just as crazy as those people who tell you that you can win the lottery by scientific method. Try doing some paper trading (simulated, such as with a demo) and find the pattern. It’s not there.

Myth #4 – The experts know best (experts always win)
This is probably the most enduring myth. Tons of ‘experts’ abound with advice for the new trader, based on years of experience. News flash: Even the world’s best traders are right only about half of the time. Think about it – a trader can literally be a loser 50 percent of the time and still be considered an expert in forex.

Avoiding these and many other myths that pervade forex market blogs and Articles will help you keep your forex investment under your control.



Reply With Quote
  #2  
Old 28-12-2015, 21:31
Level 1 Lasers Member
 
Join Date: Dec 2015
Posts: 5
Default Re: Forex Myths

no business can make anyone rich quickly. it will take its own time. forex is risky. it is a double side sword
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
5 OF MYTHS ABOUT THE DAILY TIME FRAME ForexArticles Forex Articles 0 17-03-2015 20:43


All times are GMT. The time now is 07:19.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.