It’s something you can’t really avoid: New entrants of the forex market get acquainted with certain false ideas which are either misconceptions or myths.
Here are our top 10 myths you should forget about, and focus instead on the best way to learn how to trade!
#01. You need an economics or finance degree to trade Forex 🧑🎓
No, you don’t. My cousin is a farmer and he beats me every time.
#02. You need to have a lot of money to start trading 💵
If you have a computer, Internet, a brain, and a few bucks, it will be enough.
#03. The Forex Market moves randomly 🥴
Like a drunk on the sidewalk, you mean? In theory yes, but no. The exchange rate of currency can often exhibit trending behavior that is far from random.
#04. Being unconventional improves your chances of success 🤡
Not really. Adapting to the changes in the market will be a better idea.
#05. The higher the leverage, the better 📈
The reality is that you have an equal chance that it can work against you. Why take that chance?
#06. You have to be in front of your computer all the time 💻
Nope. Have you ever heard of automation?
#07. Trading is actually gambling 🎲
Hell no. Remember that in casinos, the house always wins. You have better chances with trading.
#08. Only professionals traders make money👨💼
Even if it was partially true, well, you can just become a professional then, right?
#09. Forex trading is really easy 😏
Yeah sure, that’s why everybody is a millionaire.
#10. Trading is not fun 🕹️
That’s because you don’t know yet AdelTrade, the gaming platform for traders!
You are now enlightened enough, and ready to join AdelTrade, to learn a bunch of other things about trading.