Hey guys, Is forex trading a scam, or is it a legitimate way to invest? I’m curious to hear about real experiences. Have you found success or encountered pitfalls in forex trading? Thanks in advance.
No, it’s not a fraud. This is a money maker.
Locate a trustworthy broker. Avoid trading retaliation. It’s not a casino here. There will undoubtedly be another chance or set up in five minutes or five days. When trading, keep your emotions under check. Quickly cut your losses and stop convincing yourself that the market will rise or fall with the following candle because the volatility is extreme. As much as you can, let your winners run, but keep things grounded. It could be wise to close the trade or partially if there are indications of diminishing momentum or rejection.
Most traders lose money because they can’t accept a loss or become overly greedy, or because they tell themselves a tale about being a winner or loser. Take that all in. The market can uniquely play with traders’ emotions and psychological makeup.
Wishing you luck.