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Forex Misconceptions PDF Print E-mail
Written by Stan Kajzerek   

Forex Misconceptions:

How much?- How much money do I need to start to learn and how much money do I need to start trading? ....in the first month it will cost you $890.00 for your membership fee plus $89.00 to participate in our online learning program during live market conditions. This number is based on the forexoffice.ca educational format. Once you are ready to start trading in your live account, on your own, you can start with $250, $500, $1,000 or which ever number represents 25% of your total portfolio. Now you are ready to work on your Forex psychology.

Holly Grail: It sound interesting, it almost sounds Godly...but the best things in life are free, so do not pay for it, because it is your brain. All you have to do is to use it in a way that is logical and not emotional. Do not overanalyze this market based on your umbrella of past experiences and/or based on your inherited beliefs or values.  Practice, so you know what to look for,... you are looking for patterns on your Forex charts, and make a decision based on what you see almost instantly rather then applying your thinking cap and allowing yourself to drift in the wrong direction.

Forex Secret – a marketing word that is used and abused. There are no secrets in the Forex market. On the other hand, there is no one person that knows it all, which in turn creates the notion of a potential secret - a bottomless concept.

Do I Need Personal Coaching? - A simple test for me to confirm my fitness level is by looking in the mirror.

Forex Signals – Forex trading signals usually work for a signal originator, and not for people who hope to get a signal. If it is not your own trading signal based on your own trading plan, then it is not your own risk management. In conclusion, do you really want to pay to lose money?

Stress - anything that you do in your life incorrectly can be stressful.

Volume / Liquidity – Volume is not a very reliable technical indicator in the Forex market. Forex is global; therefore volume is difficult to measure. Stock market always considers volume and price action, but Forex trading is only similar to stock trading... Attend our daily webcasts / trading sessions - to learn why Forex trading can be a safer trading environment then stock market trading. And, yes...you can always exit your position on the Forex market... in seconds....versus stock market, where you may not find anybody to buy your stocks. Liquidity is constant on Forex market. As long as people need money to trade products between countries, liquidity is not an obstacle to a Forex day-trader.

Easy- A Forex myth. There is nothing "easy" or "quick" in the Forex market that translates to your profitability.

Misinformation - filter-out your source of information by focusing on Forex lessons from a professional Forex day-trader:...Live Trading Webcasts...during live market conditions with live Forex data feed. Forex is dynamic in nature, therefore your learning system needs to be dynamic as well.

24 hour trading opportunities...yes...but only for a few hours per day the Forex market may offer proper conditions to trade.

Note the difference between usefulness of historic price action versus non-reliable trading systems or trading robots that are based on historical data.... Join Now...and learn even more ... real Forex trading with a Forex professional: Stan Kajzerek.

Word Association - This is a simple and a very effective Forex awareness that saves lots off money. Once you hear: easy and quick - you lose money, secret - you lose money, chase - you lose money, unctuous - you lose money, greedy - you lose money, "big moves" - you lose money, news events - you lose money, earn while you sleep - you lose money, no experience necessary - you lose money, "gold-rush"concepts- you lose money, guarantee - you lose money, try my system - it will make you feel hopeful - you lose money every time. Trade more than two Forex pairs as a beginner - you lose money. Talk constantly about money - you loose money. I will tell you how to be successful - you loose money. We can help you - you loose money. First time revealed - you loose money. Limited seating - you lose money.

Demo account - 90% of Forex success is based on your personal - Forex psychology. It reveals itself only when you start placing orders in your live account. Therefore, after three or five month of learning / trading on demo in our trading room / during our live webcasts...you should start to apply your knowledge, on your own, in your live account...start with mini account in reference to your portfolio.

 

 Secrets    Secrets   

 

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