Forex is not scary, but people are afraid of it. Why?

Why people are afraid of Forex?

Since any possibility of making money is continuously connected with the possibility of losing it, then all human fears lie on the same plane - the fear of losing one’s money. But you can lose your money for various reasons, in fact they form a fear of the market. I propose to consider the main of them:

Misunderstanding of the principle and essence of the market

For a person unfamiliar with this industry, one word “forex” or “trading on the financial market” will cause a slight tremor and mistrust, since it is believed that they only take money there, and the media are happy to warm up this opinion, constantly telling you about negative stories. In general, the majority, to the extent of their misunderstanding of the essence of trading, believes that Forex is a kind of casino where there is a chance to quickly cut money ... In general, like in any other field, ignorance and misunderstanding cause fear.

Dirty players.

Everyone is afraid to be cheated, and in the modern world, where trading is conducted mainly through the Internet and there are tens of thousands of different businessmen, it is naturally likely to run into a "dirty" game. There are no guarantees that you will not get involved in an expensive and no less useless training course, and then they will also help to merge your account when trading as much as possible. People naturally fear such a course of events and deception by the broker.

Forex is for the elite?

Looking at the statistics, it’s not difficult to understand that not everyone earns money here, and it turns out that people start to think that they are clearly not part of the “smartest” ones, that they don’t have the unique abilities necessary for trading, but in fact they’re just too lazy to develop and learn.

In reality, all these fears, although justified, are not essential, it is just necessary to study hard and gain experience. Although, perhaps, this is precisely what scares many people, because the worst of losing money is only losing time. There is nothing worse than spending years studying the market, and then realizing that you didn’t understand anything and did not learn how to make a profit ...

Any fear of anything is gossip. And Forex is no exception. Many are afraid of the Forex market precisely based on stories of bad experience, merged deposits and poorly selected brokers. Yes, and the ubiquitous advertising about making easy millions is suspicious.

And, as a rule, guided by these rumors, a person adds up his unfounded opinion.

And this opinion boils down to the fact that Forex is a fraud and it is impossible to earn there. They believe that Forex is a kind of roulette and poker on the Internet, a game of chance. They do not consider Forex serious earnings.

Therefore, people are afraid of the Forex market because of their fear of being cheated or disappointed. For the same reason, people do not become entrepreneurs. They need a stable lifestyle, peace of mind. They sit still succumbing to their fears, instead of acting and trying something new. This fear based on rumors stops them. And, having not tried it, they continue to submit to rumors and fears.

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Damian

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I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....