Where To Find Reasons Of Your Loss On Th Forex Market?

What questions are traders looking for answers on working on the Forex market? Let’s try to list them:

* What currency pair to choose for work?
* Should I trade with one pair or with several?
* When should I open a position?
* To buy or to sell?
* Should I put Stop Loss and Take Profit and on what levels?
* How much time should I keep a position opened?
* What conditions can make me close a position?
* To close or to turn?
* What sum of money should I have on my trade account?
* How to choose a credit shoulder (if a broker provides you with this service)?

This list is not full, but I am sure that as studying the subject, you will have new questions.

When I started to work on the Forex market, I had read a lot of books about the Forex market. It took “my head” three days to sort and to think over the information, but on the fourth day I realized that I had no idea of how to work on this obscure, unpredictable and so dangerous market. Here we come!

Every author has his/her own opinion and point of view. You often can meet the words that say that everything what you have read and done before is wrong, and this author found the right and new method of approaching that would bring a lot of money to you. You start finding out “where the beginning” and you see that this author offers you to buy his/her system (program, signals, books etc.) This “around stock show” is not as harmless as it may seem at the beginning. Pluralism is good in discussion but it is fatal in action. As a result you find yourself at the parting of tens ways.

The problem is not that there are not enough trade tactics and systems (good too); the problem is that there are too many of them. The problem of choice again! This task is too hard for many. You start your work on the stock with simple strategies and you start winning a bit. Soon you become disappointed a bit. 10% a month, this is not enough for me! As experienced traders say that it is possible to twice a deposit every week. You start studying different smart books and create something that consists of three screens of Alder, wave analysis of Elliot, about ten indicators on different intervals, of course; you analyze why Euro has jumped up and yen has jumped down. This is so important to understand why! You trade for a week, for a few weeks, but the account is not growing and you even have incurred losses. Oh, you understand that you do not manage your money. You start studying the strategy of money management. You trade one more week, but the situation is still the same. You have to change your tactics and fast! You have to try new trade methods described in the books. And at last you give up on planning, analysis and you wait for the moment when one transaction either will return your deposit or “kill” it. But it happens very often that the last transaction finishes your work on the Forex market.

What has brought you to this result? Excessive complication of the tactics, confidence in the wittingly false axioms of technical analysis, constant change of trade strategies and methods, and as a result — groundless, “impulsive” operations, greed. I.e. You have to look for the reasons inside yourself.

There are two ways you can earn on currency exchange market.

You can learn the basics of currency exchange trading with the help of a nice forex book and do the forex trading yourself.

Or you can hire professional traders to manage your account and they will trade for you. Find out more about forex investment.