Is there Forex Market without losses?
Unfortunately, Forex does not exist without losses, and people, brokers or schools of trading who claim the opposite, most likely just set themselves a goal to climb into your pocket. A real professional will say that no one can give any guarantees on the profit or effectiveness of transactions to Forex, it is only worth talking about the probabilities, inclined them to their advantage, which, in the long term, should give hope for success.
Only and not otherwise! Since the loss issue is the cornerstone of success for each trader and especially the beginner, we will try to cover below the main aspects of this painful, but very important element of trade.
To losses on Forex leads usually unsystematic trading, not accompanied by precisely defined levels of exit on stop-loss or take-profit. And, oddly enough, usually every trading system assumes a clear plan for entry and exit, but emotions are so strong that the voice of the mind is ignored, the stops move, the novice trader can still afford to average and the like.
All this inevitably leads to losses of the entire deposit to Forex, as such methods simply do not leave a chance for a trader to stay on the market long enough to learn how to trade. The following are the most common pitfalls, which are encountered by all without exception.
The problem of human rightness
At first glance, it may seem strange, but people like to feel right. And it might even seem ridiculous if it did not bring so much sadness since this dangerous component of our mentality is one of the main enemies in Forex. A true professional must constantly monitor his mistakes and correct them, knowing in each situation to reveal his wrong and not to allow solid losses, but this is not given to everyone.
Usually, people prefer to indulge in self-deception and blame the whole market, although in fact the reason, of course, in themselves. A swollen ego will inevitably result in losses to Forex, so before the bidding, you need to be humble and watch out for everything, since the market is the best teacher.
If there really is a desire to become a good trader, then it is necessary to enter a detailed transaction diary and preferably record video of the trade to analyze it on the weekend or after closing the transaction in order to identify errors, patterns and other details that contribute to improving the quality of further trades.