Why it is not fashionable and prestigious to be a trader on Forex market?
In this article, I want to talk about the following questions:
Why the Forex market and trading in it has such a bad reputation?
Why to be a FX trader is not fashionable, not prestigious?
Why traders do not like to talk about their work?
Why, if you will ask them about their activities, they will answer: “I work in finance”, “I work in the financial markets,” or something similar?
Why traders are shy of the fact, what they trade in the Forex market?
Why nobody talks about it proudly?
So many why!
I heard this from so many people, many of my friends are traders. I am a trader in the Forex market, and I know this. Let’s try to clarify this issue.
Trader can lose money.
Often you can read the article or see the video on the topic: “Why is it
so dangerous trade in the Forex market? Why is it better to trade
stocks? “. Or “Do you really want to trade currency? – Trading Futures
on currency on the exchange! Do not trade on the SPOT market!”
The reason for such statements is, in the first place, that existed before, and there is still very large numbers of Forex companies, which work for dishonest schemes. Now the number of such companies smaller, than it was 5-10 years ago, but, nevertheless, they are still there. Such companies are not take out of the trades of the customer on a real market, on the contrary, all trades of customers were exclusively within the company, they were just painted in the client trading platform. Naturally, with such a scheme, the company was not profitable, if the client made a profit. I have a friend who worked in two of these companies, I learned a lot very funny information from him about their working methods. Of course, unfair working company prevented clients trading profitable. Delayed execution of orders, the orders are executed at the wrong prices, delayed the conclusion arrived (in the most severe cases – profits are not paid at all) and etc. From here comes the bad reputation of the Forex market in generally.
Yes, the Forex market – is the decentralized market. The Forex broker company can afford much, much more than can afford companies providing trade stocks, futures and other instruments on exchanges such as the NYSE, NASDAQ, CME. For example, the manipulation of quotes and the execution (or non-execution) of client orders. However, several fraudulent Forex companies – do not do all the Forex market.
The loss of money from the actions of these companies is a guilty of clients. They just have entrusted their money to dishonest companies. Decades, there are companies that are trustworthy, who work honestly, earning on spreads and commissions, and not on the fact that the customer will lose their money. These companies want to the contrary, that the client was selling a lot and traded profitably. Because the earnings of the client – this company earnings, and long-term customer will bring the company more money by trading profitably, than if you just quickly lose his trading deposit. With companies who work honestly you will not have big problems, you will not be afraid to entrust your money (by the way, on the website of one of these companies you are now reading this).
Many people come on Forex market and lost their money even with good brokers. Some because of small deposit. They put 1000$ and want to double it in short time. They have big risk by using big leverage: 1 to 100 or even 1 to 200/300/500. If you were given a leverage of 1 to 100, it means that you should immediately make full use of it? Is the possibility implies a duty? No, it is not. You are a man, you are not a monkey. You can decide how much of the leverage you can use.
Why your personal mistakes must be a reason of spreading rumors about bad Forex? It is not necessary to associate trade Forex with the game in the casino. When I want not to work, but simply to bet – I go to the casino. By the way, I suggest you come to Macau, is the perfect place!
Trading on Forex it is hard work, but people think that it is easy money.
To be Forex analyst easier and more prestigious.
Without a doubt, this is easier and more prestigious. Forex analyst do
not lost money, he just write article and if he/she was wrong, it is
just mistake. All people doing mistake. He/she will got their salary in
any case. Tomorrow no one will remember what he said yesterday.
If trader made mistake he will lost money, he does not make a profit. And if such mistakes will be too much – we will read one more topic about how bad is Forex.
You can not be a trader in the Forex market without training.
We can find so many companies and people who want to study you how to
trade. You even need to pay money and they will promise to you big
income and unbelievable profits! Sometimes they will lie to you, they
will just teach you common things, but for newborn people on Forex it
will be so many new information that he/she will start to think that
they know all, that they are ready to make big money.
Approximately 95% of them will lose money and the fault will be moved to Forex.
I always asked such teachers: if you know how why you are not a dollar millionaire?
Few success stories
Yes, unfortunately we can count on the fingers successful Forex traders
stories. I think it is because people who know how and doing money have
no time for battle with people who criticize and do not believe.
If today I got 500$ in one minute, I will not tell you because I am not sure in what will happened tomorrow.
Because with success we have so many bad days, and only when we sleep we can rest. Every day we have big battle with Market and we do not have time to battle with people who are skeptical, and even with an irony smile look at us, when we speak that we are traders on Forex.
