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Seven Big Lies of Forex Traders

Are you about to start trading Forex? Since I'm the largest financial market, I'm pretty sure you've heard more than a thing or two about Forex. Some good, some bad, but not all are true. If you want to get off to a good start in your Forex trading career, it is important that you separate the liars from the truth. And here I will show you 7 BIG lies in Forex that many people fall into:

Forex trading is a piece of cake: really? Tell it at the beginning to Forex traders whose accounts didn't see the light of day! And to be exact, 90 percent of these new operators lost their accounts. As in any business, you should invest time, money, a lot of practice and a little 'trial and error' in Forex trading until you see the steady income. It takes more than just reading a book or two, buying forex or robot trading software, buying an expensive and complicated strategy, and the like.

The Forex market is open 24 hours a day, I can make money whenever I want: even if I had to agree with the first part (that Forex is open 24 hours a day), I would completely disagree with what follows. Unless it's a machine, there's no way to sit in front of your PC 24 hours a day. Therefore, it is very important that you pay attention to the hours when your chosen market or currency pair is most active.

Copy signals = BIG benefits in the Forex market: Copy is the best form of flattery, but it is not the best way to make money in Forex. Believe me, many of the traders were burned after the blind signs. In doing so, you leave all responsibility in the hands of another person. Many have argued that if you follow the signs of someone who is profitable, then you will also benefit. However, this is not the case and you will soon find your account beaten with huge losses.

I SHOULD predict exactly that the outcome of the market is profitable: as much as we want to have everything under control when trading in the Forex market, we cannot. There is no 100% scientific technique to predict the outcome of the market ... at least none that I know of.

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I need to have complex trading strategies to succeed: this is another popular myth that many online sellers of various Forex software, robots, etc. They want you to believe. This myth has been denied by many successful online funded forex trading account using simple and old strategies. What brought them, on the other hand, is a good dose of self-discipline and money management.

I have to have MUCH start-up capital to be profitable: Having a huge and deep Forex marketing pocket won't help you if you don't have the self-discipline, the right strategy and the necessary money management techniques. Unless you want to move exchange rates with your commercial orders, you don't need billions of dollars to get started.

It's gambling! True, you can't be 100 percent secure in Forex or in any other financial market, but that doesn't mean it's completely random.

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