5 Reasons These Signify Traders “Newbie”
The ultimate goal of someone doing forex trading is of course looking for profit, but it is undeniable that on the way to achieving that goal it is quite normal if a trader experiences multiple loss alias losses.
If you are a trader who is “mature” enough, you will easily pass obstacles after obstacles, loss after loss. That’s because you are already full of the trading experience and can take lessons from each incident to be a valuable stock in the future.
It’s different with newbie traders, or beginners. Each time they experience a loss, they can make various reasons, but none of these reasons reflects the attitude of self-evaluation.
This time I will tell you a number of reasons that I have heard quite often from newbie traders. Are you still making these reasons often enough? If so, maybe you are still a newbie.
Reason # 1: Market is chaotic, doesn’t make sense
Loss is not good. Imagine, you have done an analysis that you think is right, already looking for buy or sell levels that you think are the best level, then you open a position with full confidence. That’s it, still loss too.
Then the most “safe” reason for not injuring self-confidence is usually to blame the market. Surely this is strange behavior. How can someone blame the market, even though the market does move according to his will. We have to adjust to market behavior, not markets that have to adjust to our will.
The market has millions of reasons that cause prices to move. This means that there are many possibilities that the market direction will not be in accordance with our wishes. So the important thing is to prepare ourselves (and of course our capital) to deal with various scenarios.Make sure you make transactions according to ability.
Reason # 2: Broker cheat!
This is the most popular reason.
It is possible that reasons like this arise because (especially in the past) many brokers did indeed cheat. But you need to know that today the supervision of brokers, especially in Indonesia conducted by Bappebti (Commodity Futures Trading Supervisory Agency) is getting tighter. Even periodic audits are always carried out by Bappebti.
Then what about brokers that are not regulated by CoFTRA but operate in Indonesia? Ahem … sorry, I can’t comment. 😉
So make sure that you have made a transaction with a legal and reputable broker. If you have been trading with legal and well-reputed traders but still use the reason of “cheat brokers” to cover your ego, maybe you are still at the newbie level .
Reason # 3: Trading is not possible to profit
Come on. When someone starts trading, it is impossible for the goal not to make a profit and he certainly takes that decision after seeing someone else who makes a profit.
The problem is when a beginner decides to trade (real), he comes with too high expectations. He starts trading with the wrong concept, with the mindset that forex trading can make hundreds of millions or even billions of rupiah in less than a month. It is true that indeed it can happen, but it also needs to be realized that to achieve this one needs a long time, good knowledge, high discipline and – of course – adequate capital.
A trader must at least learn fundamental analysis, technical analysis, or even both. He must learn several trading systems and make transactions without hesitation and consistency, then he can develop capital and apply risk management that is comparable to his capital.
Reason # 4: There is no good trading strategy
Is it true?
This reasoning usually arises from people who feel like trying a lot of strategies but still fail. Then he concluded that all trading strategies were nonsense.
A more precise sentence is “there is no best trading strategy”. All strategies can be good, it can be bad too. It will depend on many things, including the ability and knowledge of the trader itself. Not to mention the suitability of the strategy with the style of the trader.
In trading, you must really master the strategy you use. That strategy must also match your trading style. If not, then miss.
Reason # 5: Forex trading is too complicated
The solution is simple: learn in the right way and from competent sources. Don’t be shy to ask. For example, just learn all the trading material on the EduSpot page on our site. Are you confused? Ask us. We wait.