Categorie archief: forex trading

5 popular myths about making money with Forex.

There are many words spoken en written about Forex trading. Some are facts and others are not. I can sum up 5 myths about making money online with Forex trading.

Forex trading is get rich quick scam : If this was the case there would be lots of happy fast traders. The truth is the exact opposition because the most traders have lost their first account so quick not knowing what they are doing in the first place. Others have made money due to their breaking all position site rules to over leverage. You can make money online with Forex trading, but it is time consuming and it takes effort. It takes many years for some people to learn and that it for some people will never happen. Proper education front of the screen is the only way to have success with trading Forex. But nothing is true once you have learned trading Forex

Stories about poor student made millions within 48 hours after buying a product: Those stories are told by brokers to get people interested in opening an account. They tell you colorful stories about making quick money with trading Forex. If you start an demo account you can make money the first or the second week. That opening a real account and get confronted with harsh realities of trading. Do not bother consider the stories you might hear or do not get carried away by those stories.

Hidden knowledge owned by gurus about the indicators: That only the successful traders hold knowledge and the key to making money online with Forex trading. That also these people only hold knowledge of sophisticated indicators. There in no special indicators to it.These indicators only show what happened earlier. It is based on past price action. You can see it in real time.

Automated trading: That after buying an automated software and a how to make money online trading Forex. That is all a lie there are knowledge and strategies written but there is no exact science to making money online with Forex trading. I do not trust a sales talk of gurus. Some brokers pitch a sales talk like their automated Forex trading robot can beat anything. That is not true.

Forex trading is a scam: Without a doubt there is the myth that Forex trading is a scam. Non of this is true. It might look like is a system to rob you over and over again. Players with big money has the plans made up to turn the market over.