Sunday, July 20, 2025
  • Login
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
No Result
View All Result

Popular Trading Myths, Are You Believe It?

Fenda Agustina by Fenda Agustina
6 years ago
in Learn to Trade

Forex trading is an activity of buying and selling foreign currencies to get profit from the difference between the selling price and the purchase price.
Forex trading activities have long been popular in this world. However, forex trading also develops myths that live in the community that is not true and needs to be straightened up so that it does not cause misperceptions.

Let’s check out the popular trading myths among traders:

Forex trading is difficult and only controlled by economists

Some people who are unfamiliar with financial markets will consider forex difficult to understand. Moreover, they think that the calculations are complicated and only those who understand economics can trade forex.

However, the myth is not true because anyone can trade forex, whether old or young, graduates or high school graduates, entrepreneurs and employees to housewives. Everyone can become a professional trader as long as they want to always learn, be consistent in forex trading and have patience.

Warren Buffet, a successful investor from the United States once said that you don’t need to be a rocket scientist. Investments are not a match where people with an IQ of 160 outperform those who have an IQ of 130.

RelatedArticle

Trading Psychology: Mastering Emotional Control in the Market

Profits of 5 Global Banks High Despite ECB Rate Cut

The Rise of Social Trading and Copy Trading

Risk Management Techniques in Forex Trading

It needs very large capital

In fact, with affordable capital, you can already trade forex at any brokers. Indeed, this myth is not entirely wrong because it depends on the broker that you want to use. Nowadays, as technology advances, forex brokerage firms offer trading with smaller sizes so that trading capital can be affordable to the wider community.
However, if you want to expect big results, you certainly need more capital.

Forex trading is the same as gambling

Many people still think that forex is the same as gambling. Though the difference between Gambling and Forex is clear.
In gambling, decision-making is based on how lucky you are. This is different from forex where decision making is based on technical and fundamental analysis. Additionally, your successful trading based on what method which you use. According to The Balance, choosing the trading style that best suits their personality can be a difficult task for new traders, but is absolutely necessary to their long-term success as a professional trader.

Trading makes bankrupt

Like a business, you must manage forex trading properly so that it can generate the desired profit.
As with other investments, the funds used for trading are not funds that are used for daily needs or your business needs. But the funds that you set aside specifically for trading. Thus, if your trading performance is not what you want, it will not interfere with your life.

Besides, there is risk management as well as business in general, which is stop-loss, money management, and risk-reward ratio.

You must monitor prices in front of monitor everyday

Your imagination of a forex trader maybe someone who is always in front of a computer monitor screen to monitor forex prices. This view is not entirely wrong, but it is not entirely correct either.
Currently, traders can conduct forex trading activities via smartphones. Besides, if you want to execute a trade at a certain price, for example, you want to make a profit (Take Profit) trading of USDJPY pairs at a certain level, you can use the facilities in the application to execute trades at the price you want without you being in front of a computer screen.

Thus, some popular trading myths from the public should be proven and asked forex trading practitioners who directly experience how forex trading is.

Read more: Keeping Trading Journal, Can You?

Tags: popular trading mythstrading mythstrading myths vs trading factsTrading Tips
Fenda Agustina

Fenda Agustina

"An investment in knowledge pays the best interest." - Benjamin Franklin

Related Posts

Trading Psychology: Mastering Emotional Control in the Market

Trading Psychology, Coin to be tree, Short-Term, Invesment Strategies, social trading and copy trading.
by oney
October 24, 2024

Introduction Trading psychology is a critical aspect of successful investing. Controlling emotions such as fear and greed can significantly impact...

Read more

Profits of 5 Global Banks High Despite ECB Rate Cut

central bank policy decisions, profits of global banks
by oney
October 22, 2024

Introduction Despite the recent rate cut by the European Central Bank (ECB), the profits of five major global banks are...

Read more

The Rise of Social Trading and Copy Trading

Trading Psychology, Coin to be tree, Short-Term, Invesment Strategies, social trading and copy trading.
by oney
October 20, 2024

Introduction Social trading and copy trading are revolutionizing the financial markets by connecting traders and allowing them to replicate successful...

Read more

Risk Management Techniques in Forex Trading

Winning Strategies, price action trading strategies, chart pattern recognition, isk management techniques in forex trading. Mastering forex trading. Introducing Broker Forex Program. A businessperson in a suit holding a glowing blue sphere with the words 'FOREX TRADING' displayed prominently in the center. The background features various financial charts and data screens, symbolizing the digital and analytical nature of forex trading.
by oney
October 19, 2024

Introduction Effective risk management is essential for success in forex trading. Traders need to employ various techniques to protect their...

Read more
Load More
Next Post

Calculating Exponential Moving Average

Trending Issues

  • start-up

    5 Facts in the Story of a Start-Up KDrama (Part 1)

    0 shares
    Share 0 Tweet 0
  • Everyone can Make Money while Sleeping!

    0 shares
    Share 0 Tweet 0
  • Malaysian PM to side with China rather than the U.S.

    0 shares
    Share 0 Tweet 0
  • Cristiano Ronaldo and His 6 Successful Businesses

    0 shares
    Share 0 Tweet 0
  • Stock Trading 101: Defining a Stock Index

    0 shares
    Share 0 Tweet 0

Get the latest market news and trading tips to your inbox daily, subscribe now !

Topic

  • Asia News
  • Asia Trade
  • Bonus+Promotions
  • Broker News
  • Business News
  • Cryptocurrency
  • Currency Analysis
  • Finance News
  • Forex & Market
  • Forex Tips
  • Hot News
  • Investment Tips
  • Learn to Trade
  • Market Analysis
  • Politics Issue
  • Reviews
  • Social Media
  • Stock Analysis
  • Stock Market
  • Stock Trading Tips
  • Technical Analysis
  • Tips
  • trading strategy
Go Trading Asia

Go Trading Asia covers the latest in Business and Economic News and Market Analysis, with the aim of Providing Readers with the knowledge and tools to make better informed financial decisions.

  • Contact us
  • Privacy Policy
  • Disclaimer

© 2021 Go Trading Asia.

No Result
View All Result
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us

© 2021 Go Trading Asia.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In