When something gets popular it’s obvious that it gets more and more misguiding facts. So the concept does not change for Forex market. There are many misguiding factors for Forex as well, to state it clearly there are reputed brokers like the professional IB broker yet we can obviously spot scam brokers as well. The novice traders are misguided in such matter the only solution is to not to be misguided is by being aware of the market. The novice traders should learn the market thoroughly so then they will be able to become successful in the market by avoiding the misguiding factors. Let us have a look at the misguiding factors of Forex market.
Can be right all the time
There are misguiding factors one of it is by saying that the traders can be right all the time. This as false as it sounds because the Forex market cannot be profitable always it has to feed losses to the traders. If all the traders make profits all the Forex traders would have become billionaires by now. The traders should understand that finding the right strategy to trade the Forex market without any failure is impossible also when you make mistakes you tend to learn better. If you look at the professional trader then you will notice that even they are facing many consecutive losing orders in the market but all the loss are managed loss. As a full-time trader, you must learn to embrace yours loses just like you do to winners. Always make sure that you are not risking more than 2 percent of your account capital in single trade since this is one of the most common mistakes for which most of the novice traders loses money in trading.
Trading Forex news is profitable
True, trading Forex news is profitable but only if you use meticulous strategies and if you are experienced in analyzing the market when the news announcements are made. In such situation when we consider the novice trader they tend to assume that they could trade the market by considering the Forex news whereas they cannot. The reason they cannot trade as they assume is a successful trading setup should be presented and experience is required. We do not say that you cannot trade if you are a novice trader but you need to have greater support from professional IB broker in the market.
Trade as much as you can
This is one of the misguiding facts the traders are forced to think in this manner ‘trade as much as you can’ it’s not the way ‘trade as best as you can’ this is the right way. Even if you trade once it should be done perfectly, if you trade less you get to focus more. As traders, you should understand that in order make profits you should focus on trading as best as you can but not as much as you can. Most of the novice traders think that the more they will trade the more money they will make. But when it comes to real life trading things are exactly opposite. In the eyes of trained professional a single high-quality trade is thousand times better then low-quality trades in the market. In order to make a profit from the forex market consistently, you must focus on high-quality trade execution in the market. If you look at the professional trader then you will notice that most of them are trading the key support and resistance level in the market with price action confirmation signal. It’s true that you will face little bit of difficulty at the early stage of your trading career but if you are determined to learn the art of trading then within a few months you will have a clear understanding of the basics of the forex market.
Summary- you need to research the Forex market before you enter it, you need to learn the marker. If you do not have the knowledge on avoiding the misguiding facts it must be quite difficult for you to trade the Forex market. You should learn about the professional IB broker as well as the scam brokers so you get to know how to differentiate. Professional Forex traders learn from their experience but they also have been novice traders once and they tend to succeed because of learning the market thoroughly. You can also become successful traders by learning the Forex market.
