If you are on the currency exchange market and want to make a big punch you must be following a lot of reviews, trends, projections and expert advises. To your surprise, most of what you were reading so far is all lies. It will not be unfair to say that the entire forex trade market is established on the pillars of some of the biggest lies in the market. There are no rules, to be precise, which guides the forex trade and if you are following any of those you are risking your money in wrong way. You must have encountered rules which assure you of a guaranteed profit ever month or a higher timeframe can guarantee profit. All these are blatant lies the traders have manufactured to make you play in their way and lose your money. Do you believe anybody making millions in the Wall Street actually follow these rules? NO. The most successful traders never follow these rules. Let us find out which are the biggest forex lies that you should never believe.
You must have heard somewhere that trading with Stop Loss is the best way to make profit and securing your investment. I have also heard that the pro traders always trade in stop loss mode to secure their money and restricting the loss. This however is plain eyewash to the amateurs. The stop loss model of trading make you lose your money at the fastest pace. Holding the currency till the right time is the best way to trade. Currencies often sees downfall but if you follow the trends thoroughly you will see that with each downfall steep rise occurs. With your stop loss formula, you simply lose the opportunity to earn big and even losing out on your investment.
Most traders also believe that the market is always right because they have been taught so. Never believe on these lies. These are manufactured theories to make you invest your money in all the wrong places. The market is never right because it is never constant. You know that the values of the currencies are always changing. Do you ever wonder why that happens? Because the countries keep on changing their currency exchange rates every moment. They all want to reach the right exchange rate and since they are all trading with multiple currencies getting the optimum value is never possible. All currencies, at all the moment, are gaining from some currency while losing to some. The market is not fixed and it is not right to be believed.
One extremely trending opinion in the trading market is that ‘History Repeats Itself’. You might have acquired a lot of information about the changing pattern of the values of currencies depending on each indicator, each news release and each incident but you will never find out the same thing happening again. Even if the situation is absolutely same with each indicator placed in exactly the same place as earlier, the behaviour of the money will not be the same. Forex is a huge market, in fact the value of the currencies do not follow the indicators of only one country. It is actually impossible to figure out the trading behaviour in most, if all is not possible, of the country and create an indicator matrix. In fact history does not repeat itself, at least not in the forex market.
Some of you may have already made mistakes believing in these lies. These are rules created to rule you and to rule the market you have to make your own rule. Do not believe in anything else than the prices you see on the chart. That is the only thing that is always correct because there is the amount you are going to invest and that is the amount you are going to earn. Believe those numbers and nothing else.
