Top 10 rumors about Forex

1. Forex trading is easy

Many people want to participate in world foreign exchange markets believe that Forex trading is easy, you only read a few books, then you can make a profit with only 2-3 hours per day business . Other people think they can buy it is a strategy that it is profitable and will bring their wealth with Forex. That is just speculation. Success in the Forex not easy, you will take time, money and effort


2. If I succeed in the stock, I can make money with Forex

Success in the stock market does not mean you will succeed in Forex, there are many differences between securities with money. First, the Forex requires hard work and dedication by this market open 24 hours a day. But you can not just sitting at a computer all day and night, so the best way that you should find the most suitable period for trading. Strategy "buy & hold" (buy and hold on to it) do not fit on the Forex market. Also, you do not have much money markets information as you can get from the reports and statistics from the companies.

3. I can earn money whenever I want if Forex open 24 hours a day

Again, you do not need to sit a computer all day to trading. You will have to develop automated trading software to work for 24 hours

4. I will become a successful Forex trader, if I follow the signs of another person

Many trader failed due to start following the signs blindly. Learn to believe in knowledge and skills of your own.

5. No commissions are paid in Forex

You only have to pay profits only and do not pay commissions. Item profitable this? That is the difference between purchase price and sale price of a currency pair at the same time. You can take the outcome as much profit in your hands if you plan brokers believe short-term trading.

6. Forex is a scam.

Many people think that Forex is deceiving others with the money they have to do hard-earned. Although there are many scammers behind the name of Forex, that does not mean that Forex is also a fraud. There are many Forex brokers are trained, director of accounting, the company can be trusted.

7. I need to accurately predict the market outcome to be profitable in Forex

Do not have a scientific method to know something on the market 100% certainty. Also there will be no Forex market if you can know the exact currency exchange rate. Business is a gamble. One of the first things the new trader needs to learn is to think about risk reward ratio.

8. I need very sophisticated strategies to achieve success

This is a fairly common speculation that many online sellers want you to believe. The main requirement for success with self-discipline is Forex and currency management capability. There are many dishes trader makes huge profits with the old and simple strategies.

9. I need a big capital to earn profits with Forex

Large capital does not help you, you do not need more money to be able to diversify the currency and you can not convert the currency exchange rate with your orders (you will need billions of dollars to do this). Indeed, you can do business with very little capital because the Forex market is almost always applied the concept of leverage propelled by money brokers (also known as leverage).


10. Forex is a risky bet because it is completely random.

Although there is no certainty in Forex as well as in any financial market does, this does not mean that Forex is completely random. And certainly not a betting chance. Because your success here depends largely on the skills and experience of you. Knowledge is power. So it's better if you learn to distinguish between speculation stereotypes with the truth. Do not be tempted by the promise of easy profit with Forex. But do not be afraid just because somebody said that can not make money with Forex.