Have you grown tired of the advertisements saying that making money from forex trading is easy. Because deep down inside, you know that it is not easy at all. Earning from forex is hard. You lose money constantly. Forex trading requires a huge amount of knowledge and experience. So if you have failed in forex trading, don’t skip this article. I’m going to show you 3 reasons why you keep losing.
There’s no such thing as instant success
Almost all beginners think that forex trading is simple and making money from forex trading is not a big deal at all. They think that way because they have seen too many ads promising wealth and fortune in a short time after trading forex. Let me get this straight. If anyone tells you that investing in forex is easy, they are lying to your face. Let’s have an example:
An advertisement says that you can become a lawyer in just 3 months and the course costs only $1500. Do you believe it? Of course not. A professional lawyer has to spend years in law school before making their first dollar. It has never been as easy as the ads said.
Forex trading is just like that. Nobody can become a professional trader in just weeks or even months. No forex system or forex bot can automatically bring you money when you’re sleeping. If you go to this market thinking you can make some money right away, the exit is that way. This is not a place for you.
You have to prepare yourself for a long way of learning and losing before making profits.
READ MORE: CONSISTENCY IN FOREX TRADING
Most forex systems are useless
Most people waste their time looking for a perfect forex system that can make money for them automatically. You can see many good reviews on a forex system on famous forex trading forums. However, they never really work.
Most forex systems in the market nowadays are either made by inexperienced traders or scammers. They will make profits on the first few days or weeks. However, no system can last for long.
Especially for forex indicators, they are made to predict market trends. But the market changes instantly and no indicator can keep up with it. An indicator can make money for a few weeks and if you find out about it too late, you only have days left.
If you keep searching for an effective system, you will just be wasting your time. Save those times for learning the basics and figuring things out yourself.
Demo account cannot help you ready for real trading
Some people win a lot with demo account, but when they switch to real accounts, they lose instantly. How could that happen? First, demo account is just a tool brokers make for traders to test their trading platforms and features. On the demo account, you can only practice the skills and behaviors used when trading. There is no real-life factors there. Brokers make everything easy on demo account so that traders will like the brokers and keep trading there. When you switch to real accounts, it’s like a cultural shock.
Everything is so different. Just take it slow. Deposit a little money in and keep practicing with real life conditions. Don’t spend too much time on demo account. It is no good for you.
After reading this, do you think forex trading is easy anymore? Forex trading is complicated. It’s like any other fields. You have to spend time sharpening your skills and learning as much as possible. That is the only way to succeed in this industry. If you have failed in forex trading, don’t skip this article.