Many have a fear of forex and each has his own reasons
Fear is the most powerful lever to control a person. Everyone has an inherent fear, only fools are not afraid, but people are divided into two categories: fear and do, fear and not do, guess which one is more successful?
Next, we will consider the main reasons why people bypass the forex market.
1. Forex is a scam.
The level of primitive thinking that does not distinguish a monkey from a person. Most of the traders leave the forex market, leaving behind a negative feedback loop. When you start acquaintance with Forex, leaf through the Internet and you can often find the signature "forex scam", I think you already come across this inscription. The fact is that people used to blame anyone for failures, but not themselves. I can give an example of many traders who have achieved success with their perseverance and earn money in this market.
2. There is no faith in one's own strength.
On the forex side, this is also supported by statistics that about 90% of traders lose money. Sorry, according to statistics, 90% of businesses in the first 3 years also close, we don’t do anything, is it just silly to go to work? In one book on success, it is said that you can become a master in any business in 10,000 hours, that’s 416 days, this figure does not have to be accurate. Taking a guitar in your hands and having studied for 10,000 hours you may not become a guru, but you can be called a good guitarist. I think you have already made your own conclusions.
3. Forex can crash.
Well, yes, some uncle or situation will appear, which will lead to collapse. At least it’s stupid to think so, the Forex market is decentralized. While there are different currencies, while forex is alive. Let's say the dollar has become a single currency, we have cryptocurrency, in extreme cases, precious metals, stocks - resources. Technical analysis works on any financial instrument.
4. Fear of credit.
Under no circumstances do you take a loan for forex trading, it is more likely that you will have to give it from your own pocket. I know rare cases when a person took a loan for trade and returned it to the bank, but this is only luck according to statistics. On the other hand, you will need to become a forex professional. If you invest something, it is, for starters, small blood sums, so that if you lose, you are more serious about the market.
5. Fear of what others will say.
We are always fixated on what others will say: how we look, how much we get salaries and where we work, with whom we are friends, what we are fond of. The desire to seem the best based on "status" goods, show-offs, hypocrisy will not lead to anything good. I’m also fixated on this, but I’ve gone through this stage and now I’m drinking coffee at the terminal in search of good deals, and when I first brought out $ 500, I didn’t care about the opinions of others, moreover, people started asking me to show what I was doing.
6. Fear of failure.
We have already sunk to such a level that we are afraid to fail. In order not to spoil their self-esteem, people consciously refuse risky actions. Failure psychologically suppresses a person, this is not the best sensation, but on the other hand it teaches us how to do it unnecessarily, it also morally tempers us, and with the next similar failure we will no longer react so much. But what if you succeed? Give the monkey a typewriter, infinite time and it will print you Shakespeare.
7. Fear of losing everything or stop making money.
No one is insured against this item in any field of activity. It’s better not to “store eggs in one basket”, you should not rely only on Forex, only on one account and one strategy, secure yourself with extra money or make Forex your hobby.
The best way to deal with fear is to do what you scared of.
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....