Most people who begin trading Forex do so because they read on the internet that it was possible to make quick and easy money with currency trading. There is a chronological path that most of them follow before realizing that Forex trading is not what they thought it would be. The most common identified beginners trading path is as follow:
1. Know about currency trading. In Most Cases May Also Know What Forex Is Basically they learn about Forex trading on the internet or were informed about it by a friend, relative or love one. Or maybe had a lecture about the possibilities of trading currencies during one of their lectures in school.
2. Have an interest in Forex trading. After noticing that people actually make money form it, they became interested in actually traded Forex so they can also make some money too.
3. Try to locate an easy and profitable Forex service. Now they start looking for some information on Forex and how it works. They try to find services where they can start trading with.
4. Begin gambling with their trades. Once they find a Forex service, they begin trading with absolutely no signals and idea what is going on in the currency markets. This more or less like gambling, since they are just hoping and praying that things will work well for them.
5. Unable to make the easy profits they though they could make Unfortunately, in most cases, things don't happen the way they want. They lose money here and there, now and then.
6. Repeating scenarios 3, 4 and 5. At this time they may start blaming the Forex service they are using or maybe the Forex robot which promised to make millions overnight. What they do at this stage is go back to step 3: Look for a new Forex service. Step 4: start the gambling all over again. Step 5: lose money here and there and start all over again on step 3
7. Repeating scenarios 3, 4 and 5 again... and again... Now they do this over and over again, hoping that their persistence will pay out sooner or later. Too bad for them, because persistence only pays off when you have a good plan
8. Realizing that they are losing too much. They just can't seem to make any money. At the long last, they realize that they are only losing money. They realize that persistence alone is nothing. In most cases they are more broke than they were when they started off with Forex trading.
9. Give up and quit their trading for good. This is just a natural thing to do. Every rational human being will do just that. After a while, they just can't keep losing that kind of money. So they give up. Disappointment is high and they keep it a secret and try to move on with their lives.
Forex trading take is not as easy as you think. If you want to make money with it, you have to treat it like a real business.
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