Why do novice traders decide not to trade forex anymore? Of course, in the first place, it is a loss and disappointment. The foreign exchange market did not bring a quick income…
Sooner or later, every trader raises the question: is it worth it? We are talking about the comparability of the time and effort spent on material wealth. Of course, a beginner has this question to himself more often. One must be stubborn enough to continue trading on Forex, despite a series of financial losses and disappointments.
THE PROCESS OF BECOMING A TRADER GOES THROUGH SEVERAL STAGES:
- The initial stage, when a beginner tries to embrace the immensity. This stage is characterized by a large number of merged demos and real deposits.
- The stage of growth, when a trader begins to plan his trade, simplifies and improves his trading strategy.
- Stage of professional maturity. At this stage, the trader is distinguished by patience in achieving the set goal and sufficient discipline in observing his own trading system. A distinctive feature of this stage is the development of trading intuition, of course, it is associated with the accumulated experience of the behavior of currency pairs.
HOW FAST DOES A NEWBIE LEAVE FOREX?
Most often, the beginner does not reach the second and third stages and abandons the trade. And this is understandable because the initial formation requires significant moral, physical, mental and financial costs from the newly-made trader. Sometimes a person returns to Forex, realizing that he has not gone all the way to becoming a trader. Significant interruptions in trading help the trader to accept the market not as a game, but as a tool for making money.
Sometimes traders leave Forex in the second and third stages. The reason for this may be getting a good position or a stable, well-paid job. Sometimes a trader gets bored with constant emotional stress, and he becomes an investor or finds a calmer job related to Forex trading, for example, a consultant or analyst with a broker.
Passing through all the stages of becoming a trader does not give the 100th guarantee that you will become successful traders. Unfortunately, Forex, like everywhere else, is affected by natural selection, and the most emotionally stable and well-adapted individuals survive. Statistics show that only 5% of traders consistently earn in the market, but this is not a reason to despair. This is an incentive to enter the top five. I wish you all good luck!