Forex Currencies: • All Forex traders, and we emphasize that ALL, lose money in their operations. The question is to earn more money than is lost. • 90% of currency investors fail due to the lack of a good trading system, poor training and poor money management standards. Therefore, you should consider that if you are losing or are a perfectionist, it will be difficult for you to adapt to the currency trading process. • Forex trading is not the solution for unemployed, low-income people or those who are going through a complicated economic situation and want to get out of it quickly. You must have an initial capital available and be prepared to lose it if necessary. • Do not expect to be a millionaire overnight or effortlessly. On many occasions, the advertising made by certain companies in the sector contains misleading or very unrealistic promises. The Forex market is one of the most popular markets for speculation, due to its enormous size, liquidity and the fact that currencies tend to show strong trends in one direction. He wants to think that there are people all over the world with Forex, but success is limited to only a small percentage of people
Many beginners are attracted to the false hope of earning a lot of money quickly and without discipline or preparation. Many people lack discipline to go on a diet or go to the gym three times a week. If you are one of these people, that is, if you can’t even meet, what do you think, then you will succeed in forex trading? ? • • Short-term operations are not suitable for beginners. They cannot generate significant benefits without taking significant risks. A strategy that involves a high degree of risk means working with an inconsistent development and also suffering large losses of money. An operator who does this probably has no strategy, unless he believes that bets are a currency exchange strategy. • Currency trading is a skill that requires time to learn •
Experienced forex traders can earn money in this exciting world of the Forex market. However, like any other type of business, success does not come overnight. Currency trading is not as easy as some people or companies would make you believe. Imagine, if so, all investors would be millionaires at this time. The truth is that even the most experienced operators still have periods of loss. • • Learn this sentence and observe: there are NO shortcuts in Forex! Take the time to become an expert. • • • There is no substitute for hard work. Practice first in a demo account and treat virtual money as if it were your own real money. Never open a real trading account until you have made a profit in a demo account. • • If you cannot wait to open your real account until you achieve sustainable benefits with a demo account, try it at least a few months later. At least that way you will avoid losing all your money in two months. If you cannot control your desire to operate live for two months, you must first work on your self-control if you wish to enter exchange operations.
Focus on a single currency pair
It is too complicated to control more than one currency pair when trading Forex. Stay with a larger currency pair, since they are the most liquid and their distribution is cheaper.
You can be a profitable trader when trading Forex currencies, but as with any other aspect of your life, you will need a lot of work, dedication, patience, discipline, a little luck and a lot of common sense