Why most people are wrong about Forex
by John on 11/11/08 at 4:49 pm
In Forex there are 2 types of persons: those who think this market is the perfect way to get rich quick, and those who think it’s impossible to make money on Forex.
I believe both groups are completely wrong.
The people that take Forex as a get rich quick scheme usually end up by losing their money really fast. These people tend to use too much margin and they usually don’t look to educate themselves or learn much about this market before they start trading.
When they finally lose their money, they tend to become part of the opposite group of people: those who believe it’s impossible to make money on Forex.
This second type of people are usually ex Forex traders that lost money and instead of taking the responsibilitfory their actions, they decide to blame their broker, their system or simply the entire market.
Guess what, these people are wrong too. On Forex or any other market, traders need to work hard and practice before they trade. This is a challenging game and unless you work hard on it, you probably won’t succeed. When something goes wrong, you need to find out why weren’t you successfully and what can you do to improve your trading.
