Forex is one of the largest markets in the world and the largest currency trader can unite many myths through the Internet. It's easy to read various fake articles about the Forex world. The first part of this article is about those who write these false articles.
1. Myth: The stock market is equal to foreign exchange, so if you make a profit in one, you will also get another.
One thing does not mean another thing, the stock market and the foreign exchange market are different, and the satisfactory approach is completely different, but let us see:
* The foreign exchange market is open 24 hours a day, Unlike stock exchanges, investors need to study the market to understand what is the best time to buy or sell currencies.
* There is not much information on the stock market in the foreign exchange market, and everyone can easily get a lot of information about some companies.
2. Myth: Making money in the foreign exchange market is easy.
This is not the case. In order to make money in the foreign exchange market and in general, all need to learn, dedicate and work hard. Foreign exchange is no exception.
Some people still think that you can make money through foreign exchange by buying quick turnaround strategies and even reading some articles, but this is not true. Whoever really wants to make money must invest heavily in his own and technical knowledge and work hard. But now investors can rely on the help of software called Forex Robot or Forex EA to accelerate the process of realizing profits in the foreign exchange market.
3. Misunderstanding: "I want to make money, the foreign exchange market is open 24 hours"
This is not a fact, traders (investors) strategy must define the best time to buy and sell currencies, no trader will be able to It takes 24 hours before the program's agent.
4. Myth: You can only succeed with a few tips.
In fact, if you don't know much about it, you won't be able to succeed in the Forex market, not just to track what this or that investor has said on their blog. The demo account provided by the broker can help investors to succeed and gain greater confidence in this market, a great help and a big step in doing well in this market.
5. Misconception: Don't pay any commission to brokers
The truth is that traders pay commissions to brokers through spreads, the difference between the purchase price and the selling price. The fact is that when you make purchase and sales orders, it is very short In the meantime, most of its profits belong to brokers.
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Orignal From: Myths and Realities of Foreign Exchange Trading
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