Abstract:Being a trader is not just about formulating better strategies and performing more extensive analysis, but is also about developing a winning mindset.
There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.
Most traders lose because they are:
Over leveraged
Under capitalized
Can't handle the uncertainty
Trade Fearfully
Ignore trends
Practice poor bankroll management and bad trade selection.
Forex trading is high leveraged speculation.
However, traders can trade with as little as $100 at many brokerage houses. What make currency trading attractive is that a trader can create as much or as little leverage on a position as they are comfortable with.
The best way to learn forex trading is to open a demo account and learn the ropes.
Long term success in forex is measured not by how much you make when you are right but rather how little you lose when you are wrong.
If someone is promising you a guaranteed high return on currency trading my advice would be to run away as fast as humanly possible.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
GO Markets is a regulated award-winning global broker, dedicated to taking their clients' trading experience further. GO Markets began in Australia in 2006 as an online provider of CFD trading services. Since then, they have been an industry pioneer, evolving their technology, services and education, in order to provide clients with the best possible trading experience.
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