843
To have success in Forex trading through FXpro, it is necessary to have the necessary baggage of theoretical and practical knowledge.
A grain of salt
The problem with Forex trading is that the market is so unimaginably huge (more than 5 trillion dollars a day). At the same time, there are very few studies that reflect the activities of individual traders and provide comprehensive statistics on this issue.
One of the reasons must be that the combined part of people in the daily Forex turnover is so small that they can be neglected. Therefore, from a global point of view, it makes no sense to study how traders behave. Moreover, the individual trader as the end user of the Forex brokerage service is the weakest link in the chain of transactions. The market as a whole is huge, banks and institutional players are strong, strategic investors are also strong. Brokers too. And traders? Most of them leave the market after several months of requests to make investments of 100 dollars.
Success rate
Almost every new Forex trader wants to go straight to business. Meanwhile, the problem of motivation of traders is the main reason why most of them leave the market without satisfaction with the results. And by "the majority of traders" we mean 97%. The exact percentage may vary (in any case, these figures are only an approximate estimate for the reasons stated above), but the bottom line is this: out of 100 new traders, only a few will be able to stay on the market long enough to see how their funds grow.
Motivation
A small study conducted to understand the motivation of Forex traders shows that in most cases traders come to the Forex market to make a lot of money from very little money. In other words, the average trader wants to invest 1 dollar in Forex, has studied very little how everything works, and hopes that the leverage of 1: 1000 will automatically make him almost 1000 dollars.
Is it possible to invest 1 dollar and convert it into 1000 dollars? Yes, both technically and methodologically. But there are prerequisites for this, and there is a risk.
2 good rules
First, you should not come to Forex to solve your financial problems. If the life situation has led to bankruptcy and debt, Forex is not the best option to get out of it. In fact, it can worsen the situation, so it is better to solve the problems first, and then switch to Forex in order to maximize your success and diversify your assets.
Secondly, you don't need to come to Forex to make your ego your main source of income. If personal earnings allow you to redirect part of the income to Forex, then this is a good solution. You don't need to take money from your basic needs. You can allocate money from what you don't need. Thus, it all boils down to a careful analysis of the lifestyle, so that the trader can assess where the money can be redirected.
Preparation and time
It is necessary to understand one important concept: you do not need to beat the market. In fact, the only way to make a profit is to find the best way to interpret and understand the market so that you can follow it and make money from it. That's why they say that the central rule of any Forex trader is "the trend is your friend." This means that you simply need to correctly predict the movement of the market in most of your transactions.
Сonclusion
There is no need to have high hopes that you can win on Forex from the first day. Victory requires preparation, and preparation takes time. On the other hand, one should not despair, not seeing the desired millions. Everything will be fine if you put enough effort in the right direction.
