3 Struggles of Trading No One Tells You About — As described by Financika Users

1. Not Knowing When to Take a Break

Like with all things, distancing yourself in certain situations is necessary. Although the Forex market is open 24–7 somewhere in the world, it does not mean you have to be actively trading all the time. The two most important times to take a break are after a win and after a loss. I learned this the hard way. After you win for example, you have the tendency to trade more, because you believe your strategy is working. That is exactly when you are the most vulnerable to losing money. Likewise, continuing to trade when you’ve lost money is also very dangerous. Taking that break at the exact right time is crucial. Financika South Africa offered me a Stop Loss option, which I found useful when my predictions did not go as planned and I immediately needed to step back from the Trading world. — Anonymous Trader

2. Misunderstanding Technical Analysis

When I first started in the world of Forex, I had no idea about Price Auction and the other useful techniques involved in Technical Analysis. I assumed that it was as easy as, “Bill Gates gave a good speech today, so Microsoft stocks must go up.” However, that was not the case. It was only when I started working with brokers such as financika trading, who offer free training and technical analysis breakdown, did I learn what it means to understand the aspects of trading. Good traders know — not using any kind of technical analysis is like driving a car with one eye closed. It can be done, but the chance of errors (or going broke) is much higher. — Anonymous Trader

3. Forgetting That You are Risking REAL money

Pips and percentages are terms that we all use when trading. That becomes a problem at some point, however. For the past two years I’ve done relatively well for myself. Towards the end, however, I forgot about the actual money I was putting in. My head was constantly running on pips and percentages. A good tip is to start visualizing the actual amount of money you are depositing with your trader. Materializing your deposits is the safest way to avoid giving away a huge chunk of your money when working with online brokers. — Anonymous Trader