Note Note: This article is the end of an argument with all the friends who are just about to enter the Forex market. Please read carefully.
The European Securities and Exchange Commission has required all brokers serving European clients to report the percentage of losing traders on the front page of their websites. According to statistics from 30 Forex brokers that serve Europeans, more than 76% of European traders are at a loss.
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Yes, more than 3/4 of European traders lose. Why? This is because the maximum allowable leverage is 1:30 in brokers serving new European clients, but in countries other than the United States there is no limit on leverage. In most brokers you can also get a 1: 1000 leverage.
Let’s take a look at the reason for this high percentage of losers.
1- Lack of sufficient knowledge to trade
The nature of the Forex market is such that it makes everyone dream of getting rich overnight. This makes people start trading only when they learn where the buy and sell button is. Unaware that the Forex market has no way to get rich overnight . The Forex market is one of the most challenging and attractive markets.
2- Leverage in the Forex market
If you have read the educational articles so far, do you know what leverage is in Forex? The second risk that threatens Forex traders is leverage. However, there is no defined danger in the nature of leverage and it is as harmful as it can be harmful. But human emotions make this advantage of Forex work against him.
In European and American countries, which have strong regulators in the Forex market, due to the same leverage risks, the maximum allowable leverage for new traders is 1:30. Even with such a restriction, 76% of European traders lose.
Unfortunately, the return of this Forex risk is also due to a lack of knowledge. It loses when a trader trades without knowledge. His loss is multiplied tens of times with the help of Leverage, and that is enough to destroy his account.
3- The 24-hour Forex market
Yes, you are right, these were some of the benefits of Forex trading. But unfortunately we have to say that at the same time they can be among the disadvantages.
When you have a 24-hour market where you can trade anytime, anywhere, you always have a dynamite ready to explode.
Suppose you solved problem number 1 and now you have enough knowledge to trade Forex.
But when you are tired, when you are hungry, when you have a family problem, or when you have just closed your deal at a loss and you are nervous, it is not a good time to enter the deal at all. Forex is 24 hours a day and always available to push you to enter a trade. And that can be the beginning of a big loss.
4- Fear and greed of human beings
The truth is that not all faults can be blamed on Forex. Humans, with their inherent characteristics, cause their losses.
Fear of defeat and greed for victories are the biggest reasons for Forex traders to lose.
If you look at the trading history of several Forex traders, they all have one thing in common: small profits and big losses.
Due to the lack of a specific trading strategy or discipline in the implementation of the strategy, they close the profitable trades quickly (fear of price return and loss) and keep the traded losses open in the hope of price return (fear of acceptance). Break).
Also one of the most common problems in Forex traders is high trading volumes. They often increase the volume of subsequent trades after concluding a lucrative deal and greedily achieving astronomical profits, and unfortunately this is the happy ending for them.
Conclusion:
If you do not want to be one of the 90% losers in the Forex market, the easiest thing to do is to close this page right now and forget everything you heard about Forex. This is really an offer that we have to give you from the bottom of our hearts. It does not feel good at all to see compatriots drowning in loss. These 90% of market losers are neither dumb nor far from the village, they are just human beings with human characteristics.
Much can be said about the risks and risks of Forex, but if you look at the above again, it all comes back to two things:
- Lack of sufficient knowledge
- Lack of emotion control
If you have not yet closed this page then you have probably decided to continue. Only and only if you can put all your effort to overcome these two problems can you give a chance (only a chance) to become one of the few people to win this market.
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