Announcement
Most traders have heard or read that 95% of beginners in forex do not make money. This is a very common myth widely spread on the Internet. In addition, this myth is not based on verifiable statistics and unfortunately prevents many operators from reaching their full potential by creating unnecessary and harmful commercial fears.
What Are the Opportunities for a Forex Beginner to Succeed?
Basically, there are always traders who make money in forex. In theory, there is a winner for each loser. Making money regularly is another story. In the long run, there are fewer winners than losers. In addition, 95% of traders are not full-time professional traders, but that does not mean they do not make money. A funded forex account does not have to be a professional; In fact, the unrealistic hope of becoming a professional operator is often an obstacle to success, as investors often trade with too much influence to quickly increase their profits.
The goal of the beginning trader should be to make small profits regularly. A trader who raises his capital every month for an extended period is a profitable trader who gradually gains confidence thanks to his negotiating skills. He is not yet a professional, but it is profitable. Therefore, the chances of success are statistically quite high to make a small profit each month. With more experience in forex, the operator will set a weekly goal before eventually becoming a professional trader.
By practicing regular and systematic realistic and systematic trading, the trader refines his strategy and constantly raises his capital. The beginner operator must distinguish between professional trading or profitable trading full-time and part-time. Businessmen who do not intend to become professionals but only earn some extra money are more likely to succeed in the long-term foreign exchange market. The psychology of commerce is a very important element, a trader who has no ambition to become a professional in the early stages is in a much better emotional state. Having realistic expectations results in the operator being more objective and consequently not using high leverage and larger funds because the main goal is not to make a living by trading, but only to generate an extra monthly income. The fact that one does not have pressure and does not rely on trade to guarantee a lifestyle can play an important role in the psychological factor. As a result, this will have a positive impact on the quality of operations and the rational investment amount. Minimizing the emotional element significantly is the easiest and fastest way to succeed in currency trading, as this is the most frequent cause of failure. Since it is possible to trade currency with part-time profitability, the statistics of people who really generate profits each month are probably closer to 20 to 30% and maybe even more.
In conclusion, we must emphasize the fact that the chances of the beginner investor becoming a profitable currency trader are excellent if the ambition to become a professional is not immediately realized. For starters, a beginner should expect to win consistently, no matter how much revenue there is. This mentality increases the chances of success as it offers a realistic goal that avoids the trader’s common mistake of speculating quickly to make a living on currency trading. Therefore, it is better for beginners to establish a part-time business plan.
