Myths about trading
Trading Myth: You need a lot of money to start trading
Myth Shattered: A good trader can make money regardless of his/her account size. Any strategies you have, skills and mental attitudes will work equally well with a small account. The key thing is not to rush and build up a track record on a small account and only then expand.
Trading Myth: Automated trading robots (and indicators) are the way to get rich.
Myth Shattered: Unless you want to succeed long-term, they are not. Trading conditions change so rapidly that no algorithm or the pre-determined system will be able to spot the changes, but a complex human mind will. If trading was as easy as hitting a few keys on a laptop, everyone would be millionaires by now. Slow down and learn how to trade properly.
Trading Myth: Trading is about making money fast.
Myth Shattered: Trading, first and foremost, is about preserving your capital. A lot of beginner traders get into trading on the basis of a widespread stereotype that it will get them rich fast but instead, they end up losing badly. Trading is much more about cleverly managing your risks and being patient. As soon as you start using your capital on only the trading opportunities that meet your strict criteria, you will start to grow your trading account and by extension — your capital.
Trade Responsibly: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
