Don’t Believe Myths About Forex
Don’t Believe Myths About Forex – Are you a trader on Forex? How far? Have you felt the benefits? Or are you still a beginner who experiences a lot of hesitation due to lack of knowledge, deducing the results of people’s mistakes or pure fiction that spreads?
The vacillations that arise usually usually appear among the novice traders who are interested in forex but do not have sufficient knowledge. Let’s say this newbie is interested to invest in the forex market after finding an inspiring story of someone who managed to reap millions of dollars from this forex. Then he continues to stimulate his sense of interest by typing the keyword “forex trading success story” in search engines . Various success stories are used as capital to start.
Then this novice trader early in his career as a trader still has a habit of stimulating himself with inspirational stories. Then he accidentally found one of the failure stories of traders who lost millions of rupiah. The story of failure is complemented by a statement about forex that is made based on failure experienced at the end of the story. Beginners who start their trader careers from inspirational stories then become uncertain. Imagine imagination “if such a trader fails ……” and still many ‘ifs’ other bad that appears in his imagination that makes him hesitate.
This imbalance settles the difference which, if it then evaporates, will bring up inaccurate facts and myths. The simulation above will usually bring fear to other beginners who have just started their career in forex trading. The development of technology will certainly facilitate the dissemination of information without grounding. Therefore for you beginner forex will be better to pay attention to some myths related toex existing.
Investing in Forex = gambling
It is inevitable that investing in the Forex market has a big risk. This big risk will still encounter various types of investment, even outside of Forex. This huge risk that eventually led to statemant investment in the forex market is the same as gambling on a casino. Even though not always a big investment is gambling. The thing you need to do to reduce risk and avoid myth is to learn a lot about forex investment.
All traders in Forex are rich
Another myth is the forex market is a place where only rich people who can invest their money. Though the fact is everyone has the opportunity to invest their savings in the forex market and other investment markets. Anyone can do it directly by buying shares or investing through mutual funds.
Reckless capital is not determined to learn
As previously mentioned that usually beginners start investing in forex with minimal knowledge so that when something happens immediately led to adverse speculation. We recommend that when you start investing forex , you are not only armed with simple recklessness. Provide yourself with the resolve to keep learning and updating information so that you are not stuck with unfounded speculation that comes from the word ‘if …’.
Forex is the way you get rich quick
If you read the inspirational story of the success of forex that was used as your capital when starting the investment, at least the story is only written in one article or one book that read in less than 7 days. This makes you think that can imitate the success of people in the story within 7 days anyway. Though the fact is that forex is not a place to get rich in a fast time. The shorter your investment time the greater the risk you get. While long-term investment makes you grow more professional and success rate is higher.
High capital is needed
To grow into big you can start with a small thing first. It does not mean asking you to have a small capital preparation. You only need to learn to analyze and learn about the forex market which is the new world you are engaged in. If you are comfortable and know the movement, then start adding investment value.
Big companies ‘fields’ profits
When you invest, a stable company with large stocks does not guarantee generating profit. Many large companies still use prices below the achievement. The entry price determines the investment’s profitability.
Add information and knowledge
It does not have to be someone who is expert in the field of investment to become a Forex trader . But you can not ignore that knowledge and information literacy needs to be an essential asset so you can improve your ability to make wise decisions and avoid becoming a bad investor.
As time passes you may find more myths emerging from surroundings or arising from ‘ifs’ that arise from your mind. Avoid this by looking around and weighing based on facts. Do not let ‘if’ that you create obstructs self-determination and others to develop.