myregister Posted June 23, 2015 Share Posted June 23, 2015 I think that stop loss is essential but I think that there are a lot of things that a trader need to look out for so they don't get rob blindly. You get robbed blindly sometimes in this kind of world. Especially if someone has something to gain more than you. I think you should know it all to avoid losses but a lot of people also lose all their money without stop loss. I think that as long as you have a better advantage and give brokers no reason to scam you then you're good. I'm worry about being scammed by brokers. Things like not being able to withdraw money is scary too. SL is not a myth, that is truth and fact that will help you manage the risk and stopping more losses that you may get in future. What myths is actually that forex is an easy job, you make profit easier not by sweating, well mybe you won't sweating but you must working hard for your money by making an accurate analysis. Quote Link to comment Share on other sites More sharing options...
Stekin Posted July 17, 2015 Share Posted July 17, 2015 It is a Forex myth to assume that you will always earn money in Forex and when you think that you can always get the best in the market, then the trader needs to get in touch with it and for you to understand the business, you need to see it as a place where losses are imminent and you need to make it work out well for you to make. Quote Link to comment Share on other sites More sharing options...
pepy Posted July 18, 2015 Share Posted July 18, 2015 That's right forex myths will only make people go astray, the consequences also fatal because of this people consider forex as just a game and some even refer to it as illegal or anything that smells of scam. I think that we should be more wise to address this forex myth. Quote Link to comment Share on other sites More sharing options...
Decub Posted July 20, 2015 Share Posted July 20, 2015 I think a lot of people has got a lot of knowledge about Forex that they won't be fooled so easily. By this, I mean, they know what they want and they also realize that it is basically something that requires you to have a fairer knowledge of what you really want first of all. Quote Link to comment Share on other sites More sharing options...
myregister Posted July 20, 2015 Share Posted July 20, 2015 I think a lot of people has got a lot of knowledge about Forex that they won't be fooled so easily. By this, I mean, they know what they want and they also realize that it is basically something that requires you to have a fairer knowledge of what you really want first of all. They must critically think about this issue, well i know FX myths could hinder so many newbies espcially to those who still has limited knowledge and experience about forex. I think the best way to counter myths are by education and experience without those forex myths will be exist hindering many potential traders to join in forex. Quote Link to comment Share on other sites More sharing options...
Stekin Posted July 21, 2015 Share Posted July 21, 2015 Lack of knowledge can make anyone to believe anything. If someone lack knowledge of how to manage Forex well, then he or she will easily get confused on what to believe because there are so many news about Forex on the internet and different people say different things online about it. It is only for those who know what they want that can get the best thing from it in the process. Quote Link to comment Share on other sites More sharing options...
pepy Posted July 27, 2015 Share Posted July 27, 2015 I think lack of knowledge is not myths that is a real deal that people should face. If somoene lack of knowledge they will absolutely loss more of their money compared to someone who have more knowledge in their head. Forex myths is actually one of the hindrance to people's advancement in forex. Quote Link to comment Share on other sites More sharing options...
boltushkin Posted July 29, 2015 Share Posted July 29, 2015 One of the biggest forex myths is that it's ... scam. It may really seem difficult and comlicated for newbies to earn consistent profit there but it's because they don't have solid trading strategy and can't control their emotions at all. I've been trading with Hotforex for 3 years and first year was full of losses and frustrating trades. I managed to enter profitable side of trading only after that painful education but now I make off living with that. Wish you the same and don't afraid to lose. Quote Link to comment Share on other sites More sharing options...
myregister Posted August 4, 2015 Share Posted August 4, 2015 True, i also think that forex is not a scam this is just another business like others the one who will be scam is not forex but brokers or even banks who provided the liquidity to those brokers or even PAMM manager who claim they are trade in forex. Quote Link to comment Share on other sites More sharing options...
jamante Posted August 10, 2015 Share Posted August 10, 2015 here is the biggest myth of them all "THE HOLY GRAIL" algorithmly speaking its impossible. Quote Link to comment Share on other sites More sharing options...
Stekin Posted August 11, 2015 Share Posted August 11, 2015 Mythology is in Forex and there are so many people who believe so many different things about Forex which are not true. Some people believe that Forex is a type of business where losses are something that you cannot run away from why there are still others who think that in here, you are definitely going to make such a huge money that you will never imagine. Quote Link to comment Share on other sites More sharing options...
pepy Posted September 11, 2015 Share Posted September 11, 2015 The best forex myths that i've ever seen is actualy how people think forex as simple and easy business, well in surface it is simple but when you dive inside then you will see how complex is this business with many people inside trying to defend their interest. Quote Link to comment Share on other sites More sharing options...
myregister Posted September 12, 2015 Share Posted September 12, 2015 It is actually simple and also easy business, you just need to sell high and buy low LOL actually that is not really easy because how do you know that the price will rise so we can buy and sell later or when the price will fall so you can do the opposite?, the answer is that is analysis but that is a complex way yet i think the only way too. Quote Link to comment Share on other sites More sharing options...
pepy Posted September 14, 2015 Share Posted September 14, 2015 Well another myths so far that i know is that merely being unconventional in one's approach improves one's chances of success. For me that is nonsense, only an understanding of underlying market drivers can provide any kind of edge. Whether that is 'conventional' or 'unconventional' is moot. Quote Link to comment Share on other sites More sharing options...
myregister Posted December 21, 2015 Share Posted December 21, 2015 The best myth of course is you can become a rich person through forex just in shorter time. I said that it highly won't be happen, because forex is such a volatile busines yet provided very high risk if you cannot maintain the risk in the right manner. And there's no anything such as holy grail strategy, that is a pure myth. Quote Link to comment Share on other sites More sharing options...
pepy Posted December 22, 2015 Share Posted December 22, 2015 That is such a propagand and someone shouldn't buy those propagandas. It is quite unreasonable considering forex is one of the businesses where the risk is very on notice.In the other hand someone need to be careful than trying to think becoming rich. This kind of myth makes many newcomers want to make more money here without even knowing the risk itself. Quote Link to comment Share on other sites More sharing options...
myregister Posted December 28, 2015 Share Posted December 28, 2015 That is such a propagand and someone shouldn't buy those propagandas. It is quite unreasonable considering forex is one of the businesses where the risk is very on notice.In the other hand someone need to be careful than trying to think becoming rich. This kind of myth makes many newcomers want to make more money here without even knowing the risk itself. That is right a very good propagandas and still people buy it why? Because many people want to achieve economic freedom and it seems forex offers that, and people who introduce forex also show only the good side without taking the bad side into the eyes of someone who attract to forex. You will even see the small note below of each broker saying that forex is a high risk business. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 4, 2016 Share Posted February 4, 2016 Well aside from that we can talk many myths about forex here, one of those myths is demo account = newbie. This is a common myth but don't really popular because people never bother with it because it doesn't mean you already earn well you suddenly forget demo account, in fact many experts alike still use demo account even its frequency not as much as when they were newbies. Quote Link to comment Share on other sites More sharing options...
myregister Posted February 5, 2016 Share Posted February 5, 2016 Oh yeah that kind of thing is actually myth, i also agree that demo account is for everyone for the sake of virtuality or for the sake of experiment. This is not the place for newbie only or the place for someone who cannot even earn well, but for everyone i repeated. Also demo account is important part of modern foreign exchange nowadays. Quote Link to comment Share on other sites More sharing options...
pepy Posted February 26, 2016 Share Posted February 26, 2016 Oh yeah that kind of thing is actually myth, i also agree that demo account is for everyone for the sake of virtuality or for the sake of experiment. This is not the place for newbie only or the place for someone who cannot even earn well, but for everyone i repeated. Also demo account is important part of modern foreign exchange nowadays. See isn't it? It is for all for someone who want to practice or for someone who want to do a testing to their strategy or expert advisor. I myself see people do that kind of thing is simply because they don't even know what is the purpose of demo account and create myth that demo account is just for newbie. In fact that is totally wrong. Quote Link to comment Share on other sites More sharing options...
myregister Posted March 12, 2016 Share Posted March 12, 2016 Depart from this demo thingy, i think another myth that each single trader should fix is scalping. Well it is quite easy to grab small profit, but to do scalping is not easy as we think. Price still need to analyzed so we can grab optimum profit, and also we actually target the similiar profit than those longer term traders, the difference that scalpers open more than one positions in relatively shorter time. Quote Link to comment Share on other sites More sharing options...
pepy Posted March 17, 2016 Share Posted March 17, 2016 Yes, it is all about uncertainity from the market itself, sometimes i want to convince myself that it is easy to make profit, when the data is clear then the market will follow but that is not always the cases, sometimes or even more than that making a big turn, it seems like nonsense thingy and i am sure most traders will agree with me. The myth of 100% successful strategy also is a true myth. Quote Link to comment Share on other sites More sharing options...
novarisa Posted March 17, 2016 Share Posted March 17, 2016 Yes, it is all about uncertainity from the market itself, sometimes i want to convince myself that it is easy to make profit, when the data is clear then the market will follow but that is not always the cases, sometimes or even more than that making a big turn, it seems like nonsense thingy and i am sure most traders will agree with me. The myth of 100% successful strategy also is a true myth. The most important fact that every traders should know is that we will never know where the prices will going. We can just predict it and it's not that 100% accurate. Quote Link to comment Share on other sites More sharing options...
myregister Posted March 25, 2016 Share Posted March 25, 2016 That is the uncertainity of forex itself, i must say i hate it but that is the fact which i cannot deny, our prediction won't make much change, only our action is. So, from that all, the myth of 100% accurate prediction is true, it is just myth nothing more than just usual prediction. I always predict the market but the result isn't always good sometimes it is worse than what i imagine. Quote Link to comment Share on other sites More sharing options...
pepy Posted March 26, 2016 Share Posted March 26, 2016 The price will stay volatile especially in major pairs but i think we still can predict the market by use analysis isn't it? We are trying to analyze the market's condition and trends also how it moves. Overall, i see that the most popular myth that is holy grail strategy, which many people sold too LOL Quote Link to comment Share on other sites More sharing options...
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