logo |

News

    Home   >     Original    >     Main body

    「KOL Analysis-Nazri Nas」5 MOST ENDURING "MYTHS" OR FALSE BELIEVE ABOUT FOREX

    Abstract:Forex trading is a platform of investment. Trading without a proper knowledge and information will eventually expose themselves to risk of huge loss. Thus, only with a right knowledge and information will increase their opportunity to get a huge profit while trading with forex.
    NAZRI

      The major problem faced by many novices is that they are always bombarded with “myths” or fallacies in forex trading. They tend to put aside either the right or wrong steps to trade. Rather, to do some research about it.

      Indeed, forex trading is a platform of investment. Trading without a proper knowledge and information will eventually expose themselves to risk of huge loss. Thus, only with a right knowledge and information will increase their opportunity to get a huge profit while trading with forex.

      Alarming... Please wait!

      This going to be a lengthy article. You want and need to learn, isnt it?

      Alright, let's continue to our core business!

      These misunderstanding are dangerous for new traders. It will cause a detrimental effect on their trade as the forex market is a high risk marketplace. The following are my 5 lists of “myths” or misconceptions about forex trading:

      #1

      THE STARTUP INVESTMENT SHOULD BE HIGHERTOATTAIN HIGHERPROFIT.

      Yes, I admit that this fact is totally correct and undeniable. The greater the investment, the greater the profit. But, please bear in mind if the big investment is poorly managed, this can lead to a major loss too.

      As we can see today, many brokers nowadays allow activation of a trading account that cost for only USD50. With high leverage options, your capital per lot will be lower.

      For example, if you use 1: 400 leverage, the capital for 1 small size is only cost at USD 2.5. It's still safe because you only use 5% of your entire capital. Isnt this amazing? Nevertheless, if you want to get better, for this high leverage, use a maximum money management (MM) of 3%.

      Start with low investment is advisable. Learn to minimize mistakes and maximize efficiency in this trading.

      In the meantime, traders should also focus on increasing the size of account “organically”.

      When they are used to manage small accounts to a large extent, they will eventually get mature enough to manage bigger investment in future.

      #2

      ALWAYS BE IN FRONT OF YOUR LAPTOP ORPHONE

      Believe it or not, this is not necessarily for forex traders. You may focus on your work or do other activities and spend some quality time with your beloved family. If we understand how to make profit in this forex trading, we will only pay attention at certain times. Forex trading does not own all of your time.

      After all, if you trade at the wrong time, you are vulnerable to the risk of loss. Usually, during an active time zone, it is easy for us to make a profit because there is a reaction to the actual trading of stock markets in major international markets involving USA, UK, Japan & Australia. As we know, they are the most influential broker entire the world!

      Outside of the active time zone, markets are often unresponsive and most if the large movements are often influenced by speculation.

      So, please focus at this time only: 3:00 pm to 7:00 pm

      8:00 pm to 12:00 pm

      Hence, trade will be easier when they focus at the best and right times to trade.

      #3

      MUST BE MATHEMATICS AND ACOUNTINGLITERATE

      The world is getting more sophisticated year by year. Nowadays, everyone needs things to be solve so quickly. Almost all applications or software for trading are “user friendly”.

      Profit, money management, risk management, all are provided in one application. No need to worry about calculating or anything else.

      Everything will be appeared on your graph screen.

      #4

      PROFICIENT AT ECONOMYNEWS

      If we want to trade in a large scale, only then we should be proficient in studying the stock news as well as become an economically literate.

      Proficient in economy is a great advantage. However, if we were just a retail trader, we wouldn't have to be proficient about the news and economy.

      The graph in MT4 captures the movement of graphs that are relative to time. As a result, the combination of these two information will explain the “behavior” and what their actions are at a specific time and specific price position.

      We can evaluate the actions of investors by observing graph movements. The graph which moves extremely slow indicates the behavior of large investors who were less active at that particular time. This inactive investor's attitude portrays that there will be economic news which led to a huge impact on the market afterwards.

      Therefore, it is not necessarily to be literate in economy or to be an economist for us to trade. Enough for us to observe all the investor behaviors through graph movement.

      #5

      THE HIGH THE LEVERAGE, THE GRETARE BIG ANDMORELOTS CAN BEOPENED

      Leverage is a financial convenience in the form of capital given by brokers to traders. Leverage is also a determinant of the percentage of “money management” (MM) for each trade. The percentage of MM used by most traders is 10%.

      But, many do not realize that 10% MM percentage is not suitable for all types of leverage. For example, let's say there are 2 traders. Name it Trader A and Trader B.

      Trader A uses a 1:50leverage.

      Trader B uses 1: 500leverage.

      Let's say both trade accounts are 1 pip = 10¢Trader A per lot capital: USD20

      Trader B per lot capital: USD2

      If both of them have same capital of USD 200 and use the same MM of 10%:

      Trader A can open 1lot. Trader B can open 10lots.

      Here, we can understand that both of the traders share the same MM & CAPITAL but at different RISK different. So, “money management” percentage cannot be equal for all traders with different amount of capital.

      Different leverage will require different MM percentage.

      Lastly, I hope that you learned and acquired many things from this sharing. Make sure you share this article so that this precious knowledge will spread to others who in need.

      NazriNas

      Forex Trader & Trainer Kuala Lumpur, Malaysia

    圖片2.png

      [About Author]

      Nazri Naz

      Trader, Author and Trainer TRADERS STUDIO KL

      11 years of experience in Forex Trading as a full time trader (2007-2018); 10 years of experience in conducting Forex education and training program (2008-2018); Founder of Traders Mentor Training Studio in Kuala Lumpur (since 2008); Overseas training experience: Singapore, Brunei, Qatar and Manchester (the UK)

    圖片1.png

      WikiFX App is a third-party inquiry platform for company profiles.WikiFX has collected 17001 forex brokers and 30 regulators and recovered over 300,000,000.00 USD of the victims.

      It, possessed by Wiki Co., LIMITED that was established in Hong Kong Special Administrative Region of China, mainly provides basic information inquiry, regulatory license inquiry, credit evaluation for the listed brokers, platform identification and other services. At the same time, Wiki has set up affiliated branches or offices in Hong Kong, Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted WikiFX to global users in more than 14 different languages, offering them an opportunity to fully appreciate and enjoy the convenience Chinese Internet technology brings. WikiFXs social media account as below:

      Facebook:

      Singapore Area:https://www.facebook.com/wikifxsingapore/

      USA Area:https://www.facebook.com/WikiFX.US

      Nigeria Area:https://www.facebook.com/WikiFX.ng

      LinkedIn:

      Nigeria Area:https://www.linkedin.com/company/31506916

      Twitter:

      Nigeria Area:https://twitter.com/WikiFX_NG

    2.png

      Wiki Forum Forum Function:

      In order to help more investors, WikiFX has launched the “WikiFX Forum” forum, which aims to provide urgently needed and professional services to Nigerian forex investors.

      The exposure function of “WikiFX Forum” includes the following features:

      1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

      As long as there is sufficient evidence, a review panel and an executive team will contact the broker to discuss the complaint or expose it directly through the media. Here are the exposure channels:

      2: Block low score brokers from entering the forum

      3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

      4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

      WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

      Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

      Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html

      Worried about missing out latest trends in the volatile market? WikiFX ‘News Flash’ is here to help!

    3.png

      With 24-hour real-time update of forex market data by minute, you can seize the opportunity of every bullish market! Bookmark the link below and follow the market trends immediately!

      Singapore Area:https://live.wikifx.com/sg_en/7x24.html

      USA Area:https://live.wikifx.com/us_en/7x24.html

      Nigeria Area:https://live.wikifx.com/ng_en/7x24.html

    Latest News

    Singapore Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Singapore Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area

    ×

    Select Country/Area