With the rise of the internet and the proliferation of financial services, traders have more opportunities, more sophisticated technology and more options in order to make a fortune. But the fact remains that you still have to be smart, to avoid being overwhelmed with options. In order to understand how Forex trading gets so expensive and boring, I asked an analyst of Goldman Sachs who is a skilled FX trader how he became so addicted to the game. The expert explained:
“I used to make money when I started using this trade. I was betting on US Treasuries, but as my money grew larger, I realized that I was not much better than the 99.9 percent of the people who actually trade.”
How much are you winning the vast majority of your trades?
Forex traders make huge profits and still have a huge risk. The risk is that they can lose money on their trade. So there is really no point in keeping those huge numbers of dollars in your bank account. And this is what they do all the time!
How much money do you lose while trading?
How do you cope with all that risk?
“You can play it safe and avoid exposure to risk, but you cannot avoid the consequences. Even if you have a small amount of forex profits to work with, you have no financial freedom. All you have is the freedom to lose your money and you will feel very lonely.”
What were your biggest losses?
You cannot escape the consequences of your choices. If you buy too much in your forex forex trading. You will get rich and there is no limit. But if you keep your money in a bank account, you are exposed to any potential risks you might have with your money. This is why it is important to remember that you need insurance. Your bank can provide it to you. If you take enough time to consider your financial situation, you will gain a bigger percentage than yourself. But it will take a lot of work, a lot of time. But even then there is a small window in which you don’t need to worry so much. You can have money to use in case your trading does not turn out well.
What would you say is the most important skill in the forex trading world?
“The knowledge you gain on your trade makes you smarter during the course of your trading.”
Why do you
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