Investor mistakes that can lead to emptying deposits
Day forex market is a huge number of trades. Their sum is estimated at trillions of dollars. Both large players and private traders like us take part in the bidding. Over the past two decades, earnings in the foreign exchange market have become available to almost everyone. It attracts a lot of people, because at first glance it seems very simple, and at the same time has a high income potential. However, in practice, it turns out that most novice traders leave the market, losing their funds and becoming disappointed with this type of earnings. Why is this happening? I think the main reason for the failures in trading are bea trader error. Today I will talk about some of them.
Over the years of trading practice I have watched new players in the market. Unfortunately, many of them come to the market with inflated self-incene. They believe that forex trading is so simple that you don’t have to learn anything. This attitude guarantees the emptying of the precipitate. This will happen very quickly and only because of a lack of knowledge.
Choice Brokerage Company
Currently brokers offering their services to trade on the market, a lot. And often novice traders do not want to waste time on the sensible choice of the brokerage house of the company. They open a trading account with the first broker whose site was in front of their eyes. But the fact is that conditions, types of accounts, spreads may simply not suit the novice market. And soon he will combine his deposit. In addition, on the net, unfortunately, you can find the site of scammer brokers, the purpose of which is only to get money from their clients.
Denied demo account
Some new to the market, after learning the basic theoretical knowledge, believe that they are already quite ready to earn money on the foreign exchange market. Open a real account and start trading. As a result, their deposit is quickly reset. Trading on a demo account for several months is a prerequisite for success in the forex market. Even traders with experience periodically use it to test any technical analysis tool or trading strategy at all.
Inflated trade size
When choosing a broker, the market novice must pay attention to the minimum volume available for trading. It is with him to start at the stage of development of trade. Trading in a standard lot causes big losses. You can go to such a trade later, how to gain experience and confidence.
Of course, it’s not all beam entrepreneurs that lead to a loss of funds. But their absence can save the trader from excessive stress and speed up entry to the level of profitable trading.
Record Trader’s Mistakes, which may lead to a drain of deposits first appeared forex trading magazine | forex-for-you.ru.