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This post is going to discuss some unrealistic and disbeliefs related to forex trading which is infused in traders mind. Such kind of disbeliefs is making a deep pattern of thinking which confuse the traders and involve them into bad habits. But sad fact is that these misleading beliefs can be seen on famous sites and sources and that’s why people believe on these viewpoints. It’s difficult to do trade with daily charts: One of the main precarious viewpoints about forex trading is that, trading on daily charts makes a risky business; stop loss is far wider then short term trading. You are indulging into higher risks if trading on H4 graphics which considered as less knows how of position. If you want to set a stop loss of more than 100 pips, your risk is similar with position. So you need to make adjustment in your position size. Another important misconception regarding forex trading is that, there is a lack of time on higher configurations. Trades quality is much important than quantity but lots of traders loss their money due to their constant trading. What traders usually do, they want quick profit with less effort and this thing lead them to trade on that time when there is no appropriate prospects to make profit exist practically. Keep in mind one thing that your success is not associated with your amount of trades. You like winning trades run: Lots of traders leave their trades run or have some goals which are so unrealistic, which is definitely never helps you to got good amount of profit. There are numbers of traders which end up with this because unable to get good profit so they lose every opportunity to win, because they select to end their trade when the market turns in smaller profit or even in loss. For that problem, trader takes a risk because leaving strategy must be planned before starting trade. Brokers are not traders’ enemy: It is a common concept related to brokers that they are enemies of traders which are continuously cheating and destroying chasing stop. There are few dealers who do that but most of the brokers are well reputed and like to make strong, long term relationship with their clients. Brokers have got financial mean to provide good service to their customers, the competition in forex rate business is very tough. If you have bad experience in it, that doesn’t mean that you implement on every broker. They are easy target and usually get unjust blame from traders who are unable to know that spread get wider while economic announcement and other reasons like that. There are number of forums on which traders makes lots of comments regarding loss of money which are full of exaggerations, lies, misjudgments etc and it is not useful to pay any attention to them. Some of them have really bad reviews on brokers but the fact is that traders are responsible for their bad luck and loss. But make sure that you must have well reputed broker to deal your currency.
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