Dwayne Buzzell Blog | Misguiding facts about the Forex market | Talkmarkets

Dwayne Buzzell

Forex Trader
Member's Links: Forex Trader

Between 2003 and 2007 I was studying Economy at Berkeley University.

Since 2014 I've been investing in the forex market. It takes me about 2-4 hours daily. I have a lot of experience and I want to share my knowledge.

Misguiding facts about the Forex market

Date: Tuesday, May 16, 2017 8:22 AM EDT

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.

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