In FX, there are many people who only cut their losses. This article explains important points to keep in mind in order to avoid losing when it comes to investment methods. In order to actually win in FX, several years of training are required. Therefore, it is natural to only cut losses. Many people end up hating it, but it’s important to keep trying and error.
The reason why FX is said to stop
I am often told that I should quit FX. This is because of the following reasons. Even if you trade while watching the currency in the market, it often goes against the grain and results in losses. The fees are high, and if you use the wrong settings or methods, you could end up losing all your profits for the day. You must understand the situation and place orders using leverage. If you don’t have knowledge or experience with positions and prices, you won’t know where to settle currency pairs.
90% of investors quit FX within a year
90% of traders who actually entered the exchange market have disappeared. Therefore, most people are destined to disappear without winning. So if you give up, that’s the end. And most people choose that end. Even if you look at many charts and fail, you have to find the timing of the rise and make the maximum profit. The important thing is to know when trends occur.
Forex has many loss cuts
It is natural for FX to have many repeated loss cuts. Even professional traders cut their losses many times and are able to make large profits, which allows them to make a total positive profit. There is no trader who is 100% sure to win. When making a purchase, you naturally read the subsequent price movements in advance and make predictions before entering, but the basic idea is that it is essential to set withdrawal and profit-taking points. If you are an individual and have other jobs, you will not know when to make payments unless you set this point and you will go bankrupt.
take a few years
It is said that it takes more than three years for an FX trader to become successful. For some reason, many people think that they can win quickly with FX, but that is wrong. FX traders are like craftsmen, so things don’t go well right away. It is said that it takes three years to become a full-fledged person even in general occupations. Investors initially perform technical analysis on exchange rates, and even though they lose many times, they develop their own unique style and flow over the years, and after being able to maintain a winning rate, they are finally able to comfortably win when buying and selling.
run out of money
Forex traders, especially beginners, rarely win. That’s why it’s so mentally exhausting to see your money slowly dwindling. But it’s natural that you can’t win the first time. You should drop the lot and play with the minimum lot. There is nothing wrong with increasing the lot once you start winning. A small loss hurts more than a big loss. When you are starting out, you should analyze your small amount of assets and place modest orders at limit prices. In order to avoid loss cuts, let’s hold down the lot a little more and aim for opportunities.
sense of gambling
Some FX traders, especially beginners, trade as if they were gambling. This type of person is very dangerous because they will definitely go bankrupt. Since they are not suited to FX, I think it would be better for them to invest in other things. FX can make a lot of money, but it can also cause a lot of losses. Even if you win next time, you will lose the next time. Many people think that this is just gambling when they think about it later. You will need skills to make money using each system with foreign currency from now on. You have to grasp the trend, predict the direction, and execute. Even if you start, your profits and losses will be high and not stable.
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What to do when you don’t like it
As mentioned above, when you first start trading FX, you will lose a lot and become depressed. If that happens, try the following. If you give up on FX, your initial goals and dreams will go down the drain, so you need to get through the difficult times. I have compiled some good information to consider next, so let’s check it out. I will provide it in advance, so please refer to it. In order to lock in profits, be mindful of the following points. When you have time, take risks into consideration when making a move. I recommend that you try operating a small amount at a time while watching the same rate movements.
Don’t try to win in the short term
It’s important not to try to win in the short term. When you put margin into CFDs or foreign exchange, be careful of the risks. You need to draw lines and make good predictions. Whether it’s the dollar/yen or Mexican peso, you can’t hold on to unrealized losses forever, and you need to play with a set basis and level. There are now many FX management services available. If you want to win from now on, take the time to practice properly.
Minimum lot
First, you need to stop the loss of your funds. Beginners especially cannot win in the first place. To do this, first enter with the smallest lot size. That way, even if you lose, the amount of money you lose will be small. Try to make a total profit for at least one month with the smallest lot size. All you have to do is increase the lot size after you win. After your next win, aim for interest rates, etc. A characteristic of this is that if you focus on what is in front of you, you will lose your standards in the fluctuating market and become more likely to lose. The basic rule is to set a standard if you are going to aim. It is important to learn the range of tolerance.
review the rules
Beginners often enter trades without deciding on trading rules. Also, beginners often ignore their own rules even if they have them. First, calm down before trading. If you are dominated by emotions, you will definitely lose in FX. Even small emotions can make you lose. Narrow down to one currency, such as South African rand, pound, dollar, Turkish lira, euro, or yen, and continue to make trades. Paying attention to the market will raise your awareness more than you would expect.
practice period
As explained above, it is 100% impossible to win at FX right away. It will take at least a few years, so think of it as a practice period until then. No one can win that easily. You need to set aside a practice period to solidify your foundations. Of course, you can’t expect any profits, and it will be a boring process of trial and error. That alone will improve your abilities, so you will grow all at once. Make a plan in precise steps, act, and respond. In general, do real trading that is specific to your purpose.
Change of pace
As explained above, it is 100% impossible to win suddenly in FX. Repeated stop-loss trades can be unpleasant. In such cases, it is effective to do something different to change your mood. Move your body or do something to change your mood. Then, once you have calmed down, try trading again. Even if you trade foreign exchange yourself, it is tough if you are always in the negative. Until you can make a huge profit, reduce your capital a little, check the market, and make a new entry. The most important thing is to keep doing it until you understand it as a mindset.
get advice
If you have contact with traders around you, it’s a good idea to talk to them about things you can’t win. Trading is done subjectively in many ways, so opinions from a third-party perspective are very valuable. Getting advice from a different perspective than your own can help you see things in a new light. To always make an appropriate profit, get a third-party’s opinion. In order to achieve your goals, it is important to avoid risk, trade and hold every day for the long term, and get used to it. Study using tools, etc.
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Exness is for scalping
Exness is for scalping. This is because the spreads are extremely narrow. Therefore, if you like scalping, please register with Exness and try trading. Opening an account is free, so please refer to the article below to open an account. The service allows you to trade even with a small amount of capital. In either case, the trick is to avoid economic indicators and place buys and sells. It is recommended to trade during stable times. There are many products and you can make money depending on how you do it.
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