Do you know, how many traders have quit their trading in Forex? Millions of traders are entering the market of Forex every day. They have been quitting this market because most of these new traders could not figure out the Forex market. This is not your typical sell and exchange market. It is not a market which is defined by country or boundary. This market is infinite and it cannot be cornered. If you think you will be always winning in forex, it is better you do not invest in forex because even the professional traders also lose in Forex. Even the most experienced traders at Saxo have used their demo trading account to master the art of trading. So in order to become a profitable trader, you must learn the art of trading first.
Losing is only a step of learning. If you are winning like a miracle, you cannot continue for many time in Forex. It is like a kindergarten education. You are a student here and you have to learn constantly in Forex. In Forex education, most of the time, traders get bored of the same things. How many times can humans listen to strategy/ they have to hear about this strategy for every hour. Also, you need to be patient. Many traders do not have patient and cannot accept if they lose. They can lose their arm but they cannot live if they lose 10 dollars.
For these people, quitting is easy. When you are determined to trade in Forex, you have also known its risks. An inevitable outcome of trading is the loss. Traders will always a loss. If it is a famous trader’s trade, a new trader’s trade, it will always lose. You cannot get down by a trade. If you have 10 dollars in your account, get prepared to lose 2 dollars. This is how Forex is making people lose money and earn money. Only the people who are making a consistent profit in these markets can keep themselves on the run. Still confused? You should then use a demo trading account and see how losing is inevitable for every trader in the market.
There are many traders who have quit trading after losing trades. Traders who simply exit the market after losing trades, they are like the golden goose in forex. They do not take the money and only invest in giving money to the market. They do not trade if they lose and this is how traders can make money. If you want to make money, do not get down by a loss. Accept it and trade on. You will be making money in no time if you can trade in Forex with and don’t quit after trading. In order to become a profitable trader, you need to embrace your losing orders in the market just like the winners. Always make sure that you follow proper risk management factors since it will allow you to lose more trade and still gives you profit at the end of the month.
Summary: Trading the financial instrument is an art. If you trade the market then it’s very obvious that you will have some losing orders. Try to master the art of trading by using a demo trading account since it will help to learn without losing a single penny in the market. Once you develop a solid trading system try to trade the key support and resistance level on the market with proper risk management factors.