Any drawbacks of FOREX..?
brother i will new in Forex and i want to know the drawbacks of Forex can any one know about it??
You will often read about great traders who simply got wiped out because they make mistakes such as not using a stopover leveraging etc but once they had the experience of it and how it felt they corrected their error. I always try to correct my errors with the help of my broker Bprimes. In forex you are operating in a world with no structure, no logic and where there are no rules except the ones you have created to survive and hopefully prosper.
Loss in trade is lead by fear. we can say that fear is a highly powerful weapon which can make your trade to the downward. It can make you confuse, it can make you paralyzed in the forex trade market. fear can make you a large number of losses. Not only in your trade life it can also make you harm in your daily life. getting fear of losses can make more losses so try to avoid the fear. I always try to keep away from fear. My broker Forex4you always helps me a lot to make a profit from this market. They are very helpful.
Forex is a sea of money. If you can swim and survive in that sea, you will become rich. To survive and earn money from the forex market you have to be well educated and you have to know all the techniques of forex properly. By taking right decision at right time on right place you can earn a lot money. To earn more money you need to choose a broker which can help you to take right decision and make profit easily. I am currently trading with Tpglobalfx. They always help me to take important decisions and help me to make profit easily.
The biggest drawback is a lack of centralised price feed different brokers can supply different prices, there is not "true" price so you can't say if broker cheats or not.Originally Posted by israr_ali
There are many disadvantages of forex trading as well. It is conceivable that a man may lose all his invested money for a matter of minutes if he or she treats the trading as gambling. In the event that a man does not have the capital or the know how to deal with their positions when they are away, he is going to suffer. You need good knowledge and a good broker to trade with. I am upbeat that I got a decent broker. My broker gives low spreads as low as 0 pip. It has many trading instruments including forex, Futures and Shares and advanced educational resources.
Emotion can cause great problem in trading. Because taking decision emotionally can lead the trade into the loss. Technical decision is far better than emotional decision. I don't give importance to emotion while I trade. My broker TP Global FX is also help me to take decision technically. It prevents me from taking decision emotionally. I like them because of their low spreads, dynamic leverage and easy decision making tools.
As a newbie, you can learn the technique by creating a demo account. It will help you to find out the problem what you are facing while trading. It also helps to reduce your losses and create an opportunity to increase your profit. I also started my trading career through a demo account of Forex4you. Really it helped me to understand my fault in trading.
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