Stats sometimes may look cruel, especially when it comes to Forex or any other financial market. The thing is that 90-95% of traders are habitual losers. Only the tiny minority (5-10%) wins in the long run. Why do beginners give up and quit? Is trading for anyone or for the chosen only?
Let’s try to find the answers to these questions together with Masterforex-V academy experts.
Masterforex-V Academy Experts on Forex Trading
Market Leader decided to interview some of the most talented and successful traders in the industry and mentors from Masterforex-V Academy.
When asked these questions, we got the following answers:
The success in any field including Forex trading comes to those who are diligent and persistent. They set goals and try to reach them by overcoming difficulties.
On the other hand, most rookies give up and quit because most of them come to Forex trading seduced by all those catchy commercials about easy and fast moneymaking opportunities. They dream big and start trading almost right off the bat. Sooner or later, they start realizing that “the trend is not always your friend” and trading itself is not as simple and easy as they used to think. Eventually, they got disappointed. When coupled with getting habitual losers instead of winners when trading Forex, negative emotions start getting control over them, which eventually results in giving up and quitting trading forever.
Indeed, if you want make money by trading financial markets, you just have to become a professional, a trading expert. Like in any other field, you have to be professional in order to succeed. You cannot become a teacher, a musician, a doctor, a footballer or anybody else just in an instance. It requires time, effort and sometimes money. Trading is no different.
Apparently, you just have to send a lot of time learning the subject and mastering the skills needed to succeed and simultaneously working out all the necessary good habits to ensure consistent results on a regular basis.
There are hundreds of articles dedicated to the reasons for rookie failures in trading. Still, most of them are superficial. They do not go deep into the subject since their authors usually tell us about emotional overload, stresses, lack of experience, money management inconsistency etc.
Still, there are rookies, intermediate traders and advanced traders. All of the three categories are subject to losers. Apparently, the first one is the most losing one. Once again, the main reason why rookies fail, give up and quit trading is the wrong image set in their minds by ads. They think that Forex is some kind of the Holy Grail for those who are looking for get-rich-quick schemes, which do not exist in reality. Apparently, actual trading practices disprove their beliefs and crash their delusions, especially when the money is gone. By the way, those catchy commercials attract a lot of compulsive gamblers who believe in luck and short-term results rather than being focused on stability and long-term success.
So, when you know the true reasons, you can abstain from repeating others’ mistakes. First of all, you should keep in mind, that Forex should be treated seriously as a real job, not a hobby. Moreover, it requires serious training with skilled mentors who can teach you how to do trading the right way and avoid typical and costly mistakes made by most rookies.
Well, it is time to find those mentors. This is not a problem anymore. Masterforex-V Academy offers you comprehensive training that can turn you into a trading expert. If you are a beginner and do not know where to start, you are welcome to visit Masterforex-V Academy’s FREE school for beginning traders and investors. Remember that anyone can become a good trader with good mentors, proper diligence and hard work. Good luck!
