Forex Myths

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What are some common forex myths and on which new traders believe?

 

beginner's luck seems that we often hear in the forex and it looks like it's something that really happened

 

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That there are easy ways to learn everything needed to trade successfully

 

Myth

A good myth to be aware of is that institutional traders are trying to beat retail traders out of the market. Truth is that they get information faster and interpret it into meaningful trades, while retail traders don't, unless they have an edge.

 

It only goes with the newbies who are just starting their career into forex market, as new traders tend to fall easily into myths. Successful traders have cross all the barriers of myths, as they have put lot of efforts in learning and gaining knowledge about the forex market. Knowledge is all what one requires to be successful and earn some good profit, but newbies are certainly taking short-cuts from the huge learning curve.

 

Very often people believe that the price will come to the level where it was and they won't loose money after all.

 
jigsaw:
Very often people believe that the price will come to the level where it was and they won't loose money after all.

ya , that is so true, after you practice and you thought you grow out of this IDEA

then, when you use real money, the margin call limitation on your limited budget, you thought, you don't have to recognise the movement and the current price and thought you could put it aside again, and price will come back where you start -- i.e. you have to managed your opened transaction / portfolio all the time

sometimes, mladen may have put up some good indicator to be download

but because the candle are so slim, we don't really know HOW USEFUL are those indicator too

- maybe someone could use better charting (thicker candle) and put up some of those GOOD Indicator AGAIN (re-post)

 

Very often people believe that the price will come to the level where it was

demo account defects

 
Paul75:
What are some common forex myths and on which new traders believe?

Some new/aspiring traders just after facing two or three first trades, they simply and slowly fall-in believe that Trading forex is similar like Gambling on casino.

 

we may not know all the LIMITATIONS when we switch from DEMO to REAL account

 

One of my favorite myths is that "there are no commissions in Forex"

Though technically true, it’s misleading. Do you really think forex brokerswill handle trades for free? Brokers make money on the bid/ask spread, so there is always a cost...

Full article: Forex Trading Myths | Money Listing - Its all About Money

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