Forex charts move depending on people’s emotions. It often happens that the movement is completely different from what I expected when I entered. People are filled with despair there. “I lost in FX and my head is crazy.”
Is FX going crazy?
Making money in forex is never easy. There is no guarantee that the chart will move according to logic, and basically it will move erratically according to people’s emotions. Therefore, no matter how much a trader continues to win, there will always be times when he loses, and times when he loses momentum.
However, if you are a beginner, you may not be accustomed to the trading itself yet, so there are quite a lot of people who lose first and go insane. If you lose, you will have to think about various things by reviewing the chart and what kind of entry pattern you have, and in the end you will not know what is what and you will go crazy. The psychology that tends to be a beginner is as follows.
- No matter which chart time frame you look at, you don’t know the trend of rising or falling, and it’s scary
- Entry without knowing the points and timing of buying and selling
- Even if you enter at the timing when momentum comes out, it will go backwards after that
Forex loses if it moves with emotions
The important thing here is that FX often loses in most cases when it moves with emotions. And after losing, the blood rushes to my head again, and I think I will enter with emotions, but I will lose again. Look at your face in the mirror. Stay away from FX when your face is bright red. Forex is a system that always loses when it gets emotional. However, it is a normal human reaction to be happy when you win and angry when you lose.
90% of FX lose
The important thing here is that 90% of Forex loses. The majority cannot win. As mentioned above, the characteristics of people who cannot win are those who move with emotions. In other words, those who can win do not move with emotions. Only those who can trade calmly whether they win or lose will survive.
3 years to win in forex
It is not a level where you can beat Forex just by having a positive profit for one month. In order to win all the time in FX, you have to practice for two or three years. In general, it is said that it takes three years to be able to win consistently in Forex. Three years is a long time to control emotions, establish techniques, and learn chart patterns.
Characteristics of people who are suitable for FX
The characteristics of those who are suitable for FX are as follows.
not influenced by emotions
People who can think logically and objectively are very suitable. People who can think rationally and objectively can trade without being swayed by their own emotions and preconceptions. The opposite of this is a person who becomes emotional. When you go frenzy, you can’t even analyze it.
Forex is a constantly changing market. As a result, what worked yesterday may no longer work today. In order to keep winning stably in Forex, it is necessary to keep learning. To understand the market, society, politics, and international affairs are greatly influenced, so it is suitable for those who like current affairs.
someone who has a method
In order to win in FX, one method is thoroughly investigated and the method is the main battle. If you make 1000 or 2000 entries in one battle, you will know where to take profits and where to cut losses. You can see a clear line, so you won’t be shaken by emotions.
people interested in investing
Forex is an investment that will lead to future asset formation, but it is difficult to win if you are not interested in the first place. At some point you will get bored and lose interest.
Demo trading is recommended for Forex beginners
Demo trading is recommended for forex beginners. Demo trading allows you to practice trading without losing your real money. To do so, let’s start by opening an account. You can practice demo trading as many times as you like, so you can fight with real money after getting used to it.