Small traders, such as the butcher on the corner, the agent, the garbage man or the plumber are the largest group of traders on the Forex market. They are people like you and me. They acted or wanted to trade, to earn some extras. Once they start trading, they discover that it can not only deliver something, but it is also fun!
And that’s where it goes wrong!
The world of Forex trading may seem pretty complex and may even have something mysterious about it. New traders read that a lot of knowledge is needed to be able to trade profitably. Anyone who just does something will undoubtedly lose his investment.
And so they go looking for information ….
They find them in forms of websites, blogs, tutorials, forums, blogs or books about Forex trading. They end up in a sea of information and do their best to process and apply that new information.
The more they immerse themselves in Forex, the less they realize that they are actually busy with something that is not possible and something they do not want at all, namely: becoming a professional trader!
Most Forex traders, 65% so, already have a job! Most of them are just very happy with it and they would not stand up to choosing a completely different career. And should they consider that anyway, then professional Forex will be trader, probably the last thing they think of.
Logical! after all, they are bakers, plumbers, police officers, garbage collectors, and so on. Forex trading is not their daily work. There is also no ambition to become a professional trader. It is an activity that hopes to earn an extra supplement to their monthly income. For them, Forex is nothing more than a nice hobby!
Just a nice hobby!
Almost every Dutchman can play chess.Sometimes you win, sometimes you lose. Winning often depends on two factors: how good your opponent is and clear moments when you see something that your opponent does not understand.
If you want to win more you will have to learn more and practice more often. Making hours, learning existing strategies and trying them out one by one. If you go for this, you are likely to join a chess club, hire a coach, cancel all of his other hobbies and throw yourself completely into chess. Most people do not do that! For them chess is just a fun way to be busy: a hobby.
With Forex trading this works in exactly the same way!
Who does not want to be a professional trader approaches Forex for what it is: a hobby! And like any other hobby, it costs you money and delivers something. How much it will cost you and what the yield is for you depends entirely on your approach! Remember that fun, fun and pastime are also revenues. It is not just about money!
Are you approaching the Forex as something special, something complicated and something that is only reserved for professional investors? Then you will also have to do everything to become such a professional trader. Take a course, take a coach in hand, cancel all your other hobbies and make sure you can make a substantial investment!
65% of all Forex traders are destined losers.
Earning money on the Forex market is possible because someone loses money somewhere in this world. That’s just how the market works. Would anyone earn tomorrow, the day after tomorrow all Forex brokers are bankrupt and the party is over.
That will never happen, however, precisely because most traders (65%) are simply starting traders who take the acting too seriously due to a wrong approach and thus get started with tools, and strategies that simply do not have the time to completely control. There, and simply the time, the knowledge and without realizing it, does not actually have the ambition
The right approach!
Do you want to earn something with Forex? Do you only want to invest a small amount and still earn something? Do you have no ambition to become a professional Forex trader? Approach Forex for it is: your new hobby and a nice way to earn some extras.
Do not take it too seriously and always start with a DEMO account. That is almost as fun and gives you the opportunity to try it out, make mistakes and gradually get the hang of it.