From Raul Lopez, StraightForex

Why is it that very few traders succeed in the Forex trading environment while the expansive majority of traders fail to attain success? Although there is no hard answer to this question, there are a few things that will put you one step ahead and will definitely put the odds in your favor.

The principal intent of this guide is to guide you through a few important aspects of Forex trading. But in a different way, rather than telling you what to do or the best means to do it, it is going to let you know what to avoid. Sometimes it is much better to identify the principal drawbacks on a discipline and then isolate them so we have the best outcomes at a specific level of development.


The hunt for the Holy Grail

Many traders invest years and years Looking for the Holy Grail of trading. That magic indior or group of indiors, only known by some traders, which will make them rich in a short time period.

Fact: Well, there is no magic indior, nor a set of indexes which will make anyone rich in a short time period. The most important reason of this is because market varies, each and every moment is exceptional. Every Currency trading platform will fail from time to time. Our work here is to loe a Forex trading system that fits our personality as traders, otherwise the trader will find it hard to follow along.


Searching for Easy Money

Unfortunately most traders are attracted to the Forex market for this reason. Mainly because of the publicity showing or rather trying to show how easy is to trade and make money in the Forex market.

Fact: Yes, it is very easy to trade, anyone can get it done. It is as hard as you click. Nevertheless, the second part of it isn't that easy. Earning money or achieving consistent profitable results is hard. It requires lots of instruction, patience, discipline, commnt, and this list could visit infinite. In a few words, it is likely to get consistent profitable results, but definitely it is not straightforward.


Searching for Excitement

Some other traders are attracted to the Forex market or some other financial market only because they think it is exciting to become a trader.

Fact: Yes, it is very exciting to trade the Forex market. But if this is actually the most important reason you are still trading the Forex market, sooner or later you may see the most expensive adventure you've ever known. Do a little thinking.


Not Utilizing Money Management

Most traders overlook about this important aspect of trading. They think they should not be using cash management till they achieve consistent profitable results. They completely forget about the danger side of trading.

Fact: Money management enables your profits to increase geometrically, but also limits your risk on each and every trade. Money management tells you how much to risk on each trade. Using money management is essential if you want to reach your trading goals. By using money management you be sure you are likely to be able to trade tomorrow, the next week, month and these years.


Being Plogy Tuned

This really is among the most underestimated subjects when it comes to trading. One of the main fundamentals of financial markets is that the purchase price of each instrument is based on the perception of each individual participant ”the crowd.” In other words the price of each instrument is determined by the fear, greed, ego and trust of traders.

Fact: Being aware of plogical problems which impact the choices made by traders will definitely put the odds in your favor


Lack of Eduion

Eduion is the base of knowledge on every discipline. As lawyers and doctors need many years of college till they obtain their degree, Forex traders also need long years of analysis. It is much better to have someone experienced to guide you throughout your trading, because some info could take you in the incorrect path.

Fact: The marketplace teaches us valuable lessons on each and every transaction produced. Schooling for a Forex trader's practice could take. That's right, we never stop learning. We should be humble about the markets and our knowledge; otherwise the market will prove us wrong.

These are a few of the most significant barriers every trader faces when seeking to trade successfully.

Trading successfully the Forex markets is not an easy task, it requires a great deal of hard work to get it done correctly, but with the right instruction, you may place yourself closer to your trading goals.


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