For Beginners
February 12, 2022
In order to become a competent participant on the forex market, or a professional trader, it is necessary
Does trading worth the risk
Many websites, trading forums, and accounts on social networking sites circulate stories of traders who lost all their money due to the accumulation of their losses in the currency market. There are also many stories circulating about some Wall Street companies that lost millions of dollars.
The absence of regulating laws exacerbates the risks of trading in the financial markets. Overlooking the difficulty for the individual trader to compete with major financial institutions with their advanced technology and market analysis tools, in addition to their ability to obtain information that only a limited number of major brokerage firms have access to.
The Forex market remains attractive to a huge number of people who are looking for an opportunity to earn money and improve their standard of living, so is Forex trading worth it?
Trading can be called profitable and worth the effort and risk when the trader:
Capable of making above average profitsProvides enough free time and keeps pressures at a minimum.It requires a minimum amount of investment. It does not involve a steep learning curve.
First, the profit potential
When a novice trader is looking for advice from others about opportunities to make money in the foreign exchange market, the person who gives him this advice will most likely tell him that there are endless opportunities to make profits and in most cases this answer will be enough for the person seeking advice to have dreams of buying his dream car !
But someone else will say that he doubled his capital but later lost it due to bad luck one day or because the market reversed its direction and other things that may happen while trading in the financial markets, here the trading markets undoubtedly provide unlimited opportunities to make profit, but simply It is not easy for everyone to take advantage of these opportunities.
Emotional management and devotion to work are one of the essential factors for making profits in the forex market and some deceive novice traders by saying that they can practice on a demo account for a few weeks and then jump right into the real trading which they believe will guarantee them a lot of money.
Second, rest times
Financial markets operate for 5 days a week and are closed on weekends. This provides a compulsory break for traders for two days a week. Compulsory breaks help the trader to regain his physical and mental activity. There is no denying that Forex trading is superior in this regard to other professions where the trader can stop Off work for a few days also when busy with other things. There are an unlimited number of external factors that determine the details of the trading deal, and therefore the trader, regardless of his experience, will face certain pressures when opening deals. The second trade is usually a bigger loss, and all Forex traders are still vulnerable to these psychological pressures even the most experienced ones, and the trader cannot ignore the psychological impact of losses, which increases the pressure with each new loss, achieving successful trades is just a rational guess.
Third, investment stress
It is not possible for any trader to dream of earning millions of dollars when he starts investing with $10, as reducing the investment amount and starting with a small amount will reduce the chances of growing the trading account to very small profit levels and not worth the effort. It can be said that a reasonable investment to start trading and achieve Sustainable profits in the medium term varies according to the trading strategies used and also from one account to another, where we provide 5 types of accounts with different features and differ in their initial deposit such as (STD, CENT, ZERO, FIX, VIP) in addition to relying on financial leverage, but it must be understood that The absence of restrictions on the minimum or maximum capital required for trading does not mean, in practice, that the trader can achieve sustainable profits.
Fourth, learning and training
In the company, we provide all educational programs and tools to master trading. Educational resources are of great interest and give the opportunity to gain knowledge in the best possible way, but education and training take time to master trading. Technical and fundamental analyzes take a long time so that the trader can reach an accurate result that guarantees him to achieve profits when applied in trading. It often happens that technical indicators give contradictory signals about the expected direction of price movement, and this requires that the trader possess accurate knowledge that allows him to differentiate between true and false signals, and some important reports may be issued, but at the same time they carry contradictory indications and the novice person will find it difficult to choose Trend based on general trends in the market.
Trading is simply more of a lifestyle than an independent profession. There is no trader on earth who can guarantee that the next trade will be profitable simply because his previous record includes a large number of successful trades and therefore a lot of things remain at stake as long as those trading decisions in the markets full time are One of the reasons why seasoned traders advise their novice counterparts to initially trade part time.
Based on the above, we can say that currency trading will only be useful for people who do not face any financial problems and at the same time enjoy a great desire to learn and train, and for those who focus their eyes only on profits, looking for other professions may be the best option.
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