Forex traders from which you need to keep as far as possible
There are three types of Forex traders who will definitely fall for a beginner on his trading path. And I really want to hope that you do not want to be like them.
Type number 1. Believer
They always have a clear answer to any market situation and, in general, everything related to Forex. It is a specific answer with the deepest self-righteousness. They always develop their “secret” market analysis method. The basis of the “technique” is usually the spiritual practices of yogis for contemplating trends in combination with the search for hidden messages on the face of the Chairman of Eurocentrobank. This gives them the knowledge of everything and this “everything” they endlessly share with others, although no one asks them. But Believers always make sure that nobody understands the details of the “secret methodology”.
The absolute majority of Believers are fatalists and regularly predict the end of the financial market, and specifically the dollar. Recognize only the “bear” (downward) trend. And if lifting begins suddenly, this is a sign that the end to everything is already close as never before.
Summary: This is not a trade and not earnings. This is the usual mental insanity. And like any holy fool, you have to listen to him, stroke him on the head and give him candy. After all, if you tell him that he wastes time and money in vain, then the integrity of the bones of the person who said it may be in danger.
Type number 2. Proud eagle
The motto of the Proud Eagle: “I became a trader because I do not want to work from eight to six for someone else’s uncle”. Note that throwing work has nothing to do with success in trading. First of all, you need to slam the door proudly leaving the office of the chief, so that the windows pop up and only then sit down at the computer to start thinking “where does the Forex turn on”.
The proud eagle comes to Forex not to enjoy trading and to develop a profitable strategy during sleepless nights. In the vacated “from eight to six,” he does not do anything concrete, and all the time he spends in search of the “Forex absolute power ring” and cracks his head for everyone.
When you want to work out of boredom, our hero usually chooses intraday trading or even scalping. It is understandable – the medium and long-term trade is more nervous in terms of generating income and creating visibility of activity. Go explain to your family why, after a two-week external idleness, the position held in place went into a minus. But to come in the evening in the sweat of 100 minute deals for the day is much more fun, everyone hesitate to ask a tired person how it all ended.
Summary: Such a person does not care at all and most importantly at all. He is not interested in the result, he is only interested in his fantasies. Fantasies usually end with a loss of a deposit followed by a long showdown with investors.
Type 3: Champions Coach
It is very easy to find profits for the one who brings Coach, just look at any forum or type any search query on Forex. You are for them just a thing like a bag of money inside. In praising themselves, they have gone so far that they themselves believe in the nonsense that broadcast to others.
Any Forex magazine is littered with their smiling silly faces, looking at a potential client with lust for money, which will make them closer to their dream after they stuff their worthless products with the next unfortunate. I don’t want to talk about the Internet – you have to buy large monitors to fit the profits of the trainer who brings them all. They only promote themselves, and you can be sure they do not trade themselves.
They fall on the path in the face of the coach to increase personal confidence and methods of positive attitude to Forex. Naturally, no specifics will be offered. They can also praise their “author’s” strategies based on standard indicators with all their problems, before darkening in their eyes. Questions about the results of testing “strategies” are subject to booing by the comrades in profit to all the trainer who brings them. They have already fallen for money and now they are waiting for you to be with them. If you strongly insist, you can push the results from the strategy tester, which is very far from real trading.
Coach champions never talk about the difficulties of trading, and what time and nerve costs Forex requires from a trader. It sells badly, especially among the Proud Eagles. They are told by them that success can be achieved without knowledge and initial capital.
Summary: there is nothing much to say – except for a bruise under the eyes, such people no longer deserve anything.
Now that you have met this trinity, I think it will not be difficult to recognize them from the first words. And send very, very far. Normal traders with them are not on the way. Good luck to all and big profits.